3. Phase of Life. Is your product limited to certain time periods in customer's lives? (e.g., single, child rearing, retired, empty nest, college age)
Think about the lifestyle choices people make such as when we buy life insurance or stop snowboarding. What drives these changes?
Questions you should answer within your business plan:
- Who is your customer - provide a specific description (summarize the information above that describes your ideal customer)
- How many potential customers are there in your target area?
- How are these customers currently being served?
- What is the unmet need and how will you meet it?
- Think about how you will win the customers currently being served by others?