No matter what you do when you initially set up a business, it should be about making or breaking your model. Whether you’re building a product, selling to customers or trying to raise capital, it should lead to a greater understanding of what you do.
You may have a great vision for your business but, it’s probably not complete. It may be clear in your head what you want to achieve but, if it’s hard to explain it’s not ready.
You need to understand how people perceive your business and fill the gaps in your vision. Anticipate concerns; work until feedback and issues become redundant.
Your business idea will only be ready when you’re able to express it in one simple and meaningful sentence. At this point, you’ll fully understand your value proposition, market-fit and business model.