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Five Questions Your Business Plan Must Answer

Business plans don't have to be a lengthy ordeal. But you're more likely to get off to a good start if you think through critical questions about how you'll make money and run the show.

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This story appears in the October 2011 issue of Start Up.

Five questions your business plan should answer:

1. How will you win market share?

Your plan should define your ideal target customer and how you'll market, sell and distribute your products or services to buyers. Within the plan, detail the size of your market based on geography, population of target customers or other defining factors. Then, identify the competition and explain how your company will win over enough of that market to grow.

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