Determining your target market and why people would want to buy from you are the first steps to business planning.
Your business plan needs to answer tough questions and address realistic scenarios. You need to be clear about what you have to offer and the benefits that your business provide must align with your customer needs.
When starting a business, be sure to understand what makes your business unique and how to make it stand out from the crowd. You do not want to become a jack-of-all trades and master of none because this can have a negative impact on business growth.
Creating a niche for your business is essential to success. You can identify a niche based on your own market knowledge or conduct a market survey with potential customers to uncover untapped needs and potential opportunities for your business.