Business Plan Market Analysis

Conducting an industry analysis is an essential part of writing a business plan. We discuss some common industry analysis mistakes you'll want to avoid making.

When review a business plan, investors prefer that you acknowledge that you have competition and explain how you can beat them. Dismiss the competition too quickly, and investors may just as quickly dismiss your business plan from serious consideration.

It is from the market analysis chapter of your business plan that the reader will be able to gauge your knowledge and understanding of your target market. What are you supposed to know as you go about writing this chapter?

PEST analysis is that technique which is used to draw a clear picture of what the external macro-environment that a proposed business or actual business will operate in looks like. What is involved in using this analysis technique for business plan development?