Hey guys:

Owning your own company isn’t just about fulfilling a passion; it’s about knocking down all the unexpected obstacles that come with the territory. In every business you will face a problem but don't worry there is always a solution for it :)

Defining the problem you are solving for your customers is far and away the most critical element of your business plan and crucial for your business success. If you can’t pinpoint a problem that your potential customers have, then you might not have a viable business concept.

To ensure that you are solving a real problem for your potential customers, a great step in the business planning process is to get away from your computer and actually go out and talk to potential customers. Validate that they have the problem you assume they have, and then take the next step and pitch your potential solution to their problem. Is your solution a good fit for them?

Once you have described the problem that your target market has, the next step should describe your solution. Your solution is the product or service that you plan on offering to your customers. In this section, you should describe your solution in detail. What is it and how is it offered? How does your solution solve the problem that your customers have?

You may find that, after directly dealing with an issue, what initially terrified you isn’t so scary after all.

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