6 QUESTIONS YOUR BUSINESS PROPOSAL MUST ANSWER

Many entrepreneurs have great business ideas but are faced with the problem of "insufficient capital" to start up a business especially when the business is capital intensive. Some are so scared of applying for a business loan because they believe they will be turned down or afraid of failure. Others want to write a business proposal that will attract investors to fund their business but don't know where to start or what to include in the proposal. Luckily this post is made for such people .

There are so many businesses one can start with little capital. So if you have an entrepreneurial drive and a good business skill and spirit, you can start a business without funding. All you need to do is conduct a good search for a profitable business idea that will yield success. To back this up,we conducted a search and brought ideas together on how to choose a good business idea. Your great business idea guideline.

There are some business ideas that fall in the middle and many entrepreneurs need funding to set up the business. To attract investors to your business, you have to write a good and an eye catching business proposal and here is a guide that will help you do that. How to write a well structured business proposal.

There are many things you need to put in place to make your business proposal unique and attractive. There are also certain questions your business proposal must address and remember, honesty is the primary key when writing a business plan.

6 QUESTIONS YOUR BUSINESS PROPOSAL MUST ANSWER.

• What makes your product unique?

Every product fulfil a want,need or desire of its customers. The first step is to identify the need your product will fulfill in the market and determine if these needs have already been met. By so doing, you know your competitors. Find out something that will stand your product out from your competitors.

• Is there enough market demand that value the difference?

Discover the market segment that will value the uniqueness of your product and know the percentage of people who will be willing to pay to have your product.

• Is the uniqueness of your product defensible?

The quality that stands your product/services out  must be defensible and not easily copied by your competitors. Devise a plan that will protect your business from this and build a barrier that will protect your product quality and uniqueness.

• How will i reach my target customers considering and reducing cost?

Your business proposal must be clear in stating how you intend reaching your target customers with your products/services. While doing this,put cost in mind.

• How can you prove your business idea is viable and inexpensive.

There are ways to prove the viability of your product without making the full investment. Discover ways to cut down cost and make your business appear less expensive.

• How will your cash flow look like? 

Build a good financial model that support your business and decision. Note: New products often take much more time and cost to launch that's why a good experience is needed when setting up a business. In your business proposal, list out how you intend to manage your finance.

CONCLUSION:

Launching a new product/services can be exciting and rewarding to entrepreneurs who are new in the market. Entrepreneurial path comes with some degree of risk,but alllnswering these six questions honestly in your business proposal will help you make the right decision and keep you informed.

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