The business plan should address: "How will I get customers? How will I market the product or service? Who will I target?" The principles of a business plan are pretty much the same. But after page one to two, everything is unpredictable, because costs or competition will change and you don't know how things will be received by the market. You have to be able to continually adapt. Companies that fail to adapt will die. Others are brilliant at adapting.
Cameron JohnsonYou have to have a product or service that offers customers a unique advantage over the competition. Some people think it has to be price, but only one person can have the lowest price, and the person with the lowest price isn't necessarily the most successful.
Cameron JohnsonTry to find if something out there is similar. If it's already being done, now you need to find out if you can do it better or cheaper. If you have a good product and no one's buying, improve it and tweak it.
Cameron JohnsonIt's not always going to be smooth sailing or everyone will do it. If you have something people want, it should be the perfect recipe for success.
Cameron JohnsonIt doesn't matter if you have the greatest product in the world if no one will buy it. Have an idea of where your customers will come from and how to get to them. Partner with blogs and magazines that target that audience. If you partner with them, hopefully you won't have to spend money on advertising.
Cameron JohnsonStart with the least amount of money possible. Some people say they need a certain amount to start, and I say you need a half of that or a third of that. That gives you the biggest return. If you put all your eggs in one basket, it's harder to adapt when you need to. Unless it's very capital-intensive, you don't need much money.
Cameron Johnson