How do I decide if my business plan stacks up before starting my business?
I would suggest asking yourself the following 3 questions if the plan is for you.
1 How good is the quality of your research? (and how much is guess work?)
2 Have you asked for feedback on the plan (and how much would you really listen?)
3 Have you worked out a "worst case scenario"? If so - would you be comfortable if you found yourself in it?
If your plan is for a potential investor, consider:
1 Does the plan indicate financial reasons for investing?
2 Does the plan indicate other reasons why they as people should get involved?
3 Has your planning and research reduced the risk of investment?
If you plan is for a bank manager consider:
1 Can you offer a personal guarantee on any loan (do you want to?)
2 Has your planning and research reduced the risk of non payment?