TRUTH 17
Test the validity of ideas with a five-minute business plan
If you are going to make your ideas come to fruition, you need to test their validity. Building a five-minute business plan is a great way to do this. You can see whether your ideas are on-topic, achievable and robust. A five-minute plan allows you to think through the detail of putting your ideas into action. It also gives you answers to questions that will arise when you start to share your idea with others.
Your five-minute business plan needs to address key questions about aims, market conditions, resources, risks and so on. By breaking your planning into stages, you can expertly tackle the following key areas.
- Generate ideas.
- Evaluate and take the best ideas forward. ...
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