Supporting Information

Supporting Information

In Attitude Adjustment, looking at the principles of the plan-as-you-go business plan, I suggested separating the supporting information from the plan. The plan doesn’t necessarily include the supporting information that everybody assumes is part of the traditional formal business plan. And now we’re looking at that supporting information, including market analysis, industry analysis, and descriptions...


Market Research on the Web

For market research, as with business industry research, you go very quickly back to the Web. Here are some starting points: marketresearch.com — MarketResearch.com is a commercial site aggregating published market research. jjhill.org/ — Hill Research Library, an excellent nonprofit library resource, offers market research at accessible rates. business.gov — This is the U.S. government...


Simple and Practical Market Research

Market research doesn’t have to be expensive to be credible. True, there are research companies out there that do custom research for larger companies for thousands of dollars. You can buy expensive research reports for some markets, generally high-growth markets of special interest to companies that can afford to buy expensive research reports. You may...


Know Your Industry

A standard business plan should explain the general state of the industry and the nature of the business. You might be able to skip this for an internal plan because most of the target readers already know the industry, but even in this case, taking a step away and taking a fresh look can be...


Prove Your Market

In the Heart of the Plan section we discussed knowing your market. Proving your market goes beyond knowing it. This is for when you need to show your business to outsiders, whether that’s for investors, a business plan contest, a bank, partners, potential partners. Sometimes you need to talk about your market to close friends,...


Explanations and Descriptions

As the following table shows,┬áthere are lots of sections in the formal plan document that are basically describing and explaining your business to outsiders. I’d like to go back to the general plan outline from the first section, and look this time at the kind of descriptions and explanations you’ll need to add as supporting...


Distribution

If your new business is going to distribute products in the U.S. retail market, that means what people call “the channel.” Also known as channels of distribution, or retail channels. As in stores. Big stores or little stores. Macy’s, Office Depot, Staples, Safeway, whatever. I see too many business plans that underestimate the effort, resources,...


Crossword Puzzle Information Gathering

I was in Mexico City in the 1970s, working for Business International mostly and also for Business Week, Financial Times, and other business publications. I usually couldn’t get the information I wanted. Or needed. There was no Internet back then, or at least not anything available to anybody normal. And we were in a developing...


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