After you identify what is the customer’s pain your idea or business concept is going to solve, you also want to know specifically who is feeling the pain caused by this problem and how many such people are out there.
Tag Archives: Business Plans
The 10 Worst Opening Pitch Lines of Entrepreneurs
There’s nothing wrong with having passion when you “pitch” your idea to an investor. But, much like that opening line at a bar or on a first date, the opening line of an entrepreneur’s pitch to an investor can be just as awkward. Here’s 10 of the WORST opening pitch lines – avoid these at all costs.
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Lesson 3 on Business Plans: Customer Pain
I find myself asking young entrepreneurs the following question: What is the serious customer pain your company is trying to solve? If a company is addressing a problem or pain that is not significant enough, it may be a “solution looking for a problem.”
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Lesson 2 on Business Plans: Opportunity
I not so sure I believe in “creating” customers or changing their behavior. Having been an entrepreneur for over 20 years, I prefer creating a niche buisness in a space that is already large and profitable or that I believe will experience explosive growth.
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