3. What Stage is the Industry in (Startup, Growth, Maturity or Declining)?
Questions you should answer within your business plan:
- Description of the current industry
- How can you take advantage of the current industry trends?
- How much growth can you expect?
- Is this a market you want to go into?
- What ideas can you borrow from the competition? (I.E. Supply chains, distribution channels, points of sales)
- What can you do that your competition can't?
- What can you improve upon (e.g., make more profitable, simplify, streamline, just-in-time, reduce waste)?