Phase 2: Preamble
OK, so by now you have refined and validated your product/service idea, and you feel confident that you have found a high potential opportunity in your industry. What next?
It’s time to get you and your business ready to “open your doors” to the world and launch.
What will that look like and how will you know when you and your business are ready?
If you Google: “What kinds of questions will investors ask startups,” you’ll get a good idea of what you need to do to prepare yourself and your business to officially open up and go live.
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So, why do investors ask all these questions?
Short Answer: They know that the more of these questions you are able to answer, the better prepared you will be to succeed when you open for business.
The risks that investors take are calculated risks, meaning that the chances for success are higher than the chances of failing.
And they know that the better prepared you are (the more of these questions that you can answer) the higher the probability of success for you and your business.
Good News: You already have most of the answers to most of these questions from the Secondary and Primary Research that you have been doing since the beginning of Phase 1.
Question: How will you know when you are ready to launch?
Answer: You’ll know that you are ready to launch your business when you can answer most of the “Investor Questions” above with confidence and conviction.
Our Goal in Phase 2 is to walk you through the rest of what needs to be done to get ready to launch your business. Then we’ll help you organize everything that you have into a powerful, concise Business Plan.