Fulfilling My Idea

Back to: How to Write a Show-Stopping Business Plan Step-by-Step

Why am I in a unique position to fulfill this business idea?

1. This question asks what makes us qualified to bring this idea to reality and, if relevant, what our background is in relation to the idea. This question is important because it immediately demonstrates your authority and expertise in your chosen industry. If you don’t have experience in the industry itself, you can talk about other skills that you will be bringing to the table.

Using our Case Studies again, here are some approaches to answering this question:

1. 1. • From Geoff “I have spent the last 10 years restoring classic cars as a hobby while also maintaining full time work as a general mechanic”.
      • From Jennifer “I have been working as manager in this health food store for 5 years”.
      • From Mike “Although new to the commercial cleaning service, I have managed two other domestic service businesses successfully since 2008”.
      • From Cindi and Wayne “Our current business was established 5 years ago and we now have 2 concreting trucks running to 90% capacity with demand increasing on a monthly basis”.
   Note that each of these examples clearly states 

what type of experience the writer has,

1.  

the length of time they have been in the industry

1.  or 

what associated experience they have

1. . As before, the basic answer can be expanded upon slightly to provide a little more evidence of credibility.

Here’s Jennifer again:

I have been working as manager in this health food store for 5 years, coming to this industry after taking a Bachelors degree in nutrition and health. My family also owns an organic dairy farm and I am fully conversant in the practices and procedures for obtaining organic certification for this and other types of farm produce.

1. As you can see, immediately the feeling of expertise is enhanced by adding a few further details and we begin to feel comfortable that Jennifer knows a bit about this industry.

Exercise

Your turn! Think about why you are in a position to fulfill your business idea and write it down starting with the synopsis answer first and then expanding slightly.