 |
Beginning the Business Planning Process: A Look at the External Context
Now that you have evaluated your business idea in the context of your organization, it is time to take a look at the market opportunity and the external environment. The External Environment Assessment (see below) will ask you to look at the following:
- Your potential customers: What products or services do they currently use?
- Your competition: Who else is operating in the same market and targeting the same customers?
- Your competitive advantage: How will your business be different?
- What is the macroeconomic and industry context?
|
Complete the External Environment Assessment. You may not be able to answer all of the questions at length, but you should have a general sense of what kind of opportunity exists.
|
Through the External Environment Assessment you should consider your potential to sell your product or service in the context of your prospective customers and existing competition.
|
|
|
|
