Building your lane

• Goal Setting 

(What would you like to achieve physically and financially within the next 1 year/3 years/5 years.)

• Finding your target audience.

You cannot service or meet the needs of everyone, who will your brand cater to? 

(This is done using market research below)

• Market research

Demand: Is there a desire for your product or service?

Market size: How many people would be interested in your offering?

Economic indicators: What is the income range and employment rate?

Location: Where do your customers live and where can your business reach?

Market saturation: How many similar options are already available to consumers?

Pricing: What do potential customers pay for these alternatives?

Here are a few methods you can use to do direct research:

• Surveys
• Questionnaires
• Focus groups
• In-depth interviews

• Writing your business plan

https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan 

• Calculate start up costs

https://www.sba.gov/business-guide/plan-your-business/calculate-your-startup-costs 

(Sample Template)

• Personal Vs. Business Credit

https://www.sba.gov/business-guide/plan-your-business/establish-business-credit