Many business plans are written with the objective of raising finance. However, even the most professional and cleverly written plan will fail if the company loses sight of its real audience; the customer. An essential element in the development of a business plan is the identification of real customer needs and a practical outline of how the business will meet these needs and deliver its product or service to its target base. Customer analysis should be well researched, highly specific and demonstrate a full understanding of the customer demand dynamics, purchase motivations and decision making processes. The company’s product development, production and marketing plans should tie in with this customer analysis in every respect. Never forget that it is the customer who ultimately finances your business.

                                                                                                                                                                                                       

Other guides

Which Venture Capital Stage Fits Your Business?

Business Plan Ready?

When not raise money

The Naked Truth of Raising Venture Capital Finance

Venture Capital Providers Don’t Care About Your Resume

The Customer is King in Your Business Plan

Venture Capital Loves Competition

Is Your Business Plan Aimed at the Right Audience?

Is Your Business Plan Out of Date?

Marketing

Does Anybody Need What You Are Selling?

Cash flow management

How to Make Your Capital Go Further

Investor selection

Where to Look for Angel Financing and Venture Capital