Assignment Task: Your business plan will be based on a three-year financial projection looking forward (e.g.: Income Statement. Balance Sheet, Cash Flow Statement; Breakeven Analysis, and Cumulative ROI over 3 years.)
If your idea is a lifestyle business then the title of this section is Business Description; if your idea is a scalable business with an exit strategy then the title of this section is Business Venture:
You must choose a way to validate your idea; performing a survey is one option:
In this section of the business plan you, are describing in detail the following:
1. Your business idea in detail;
2. Your minimum viable product (MVP) that you will begin with; ( A minimum viable product (MVP) is a version of a product with just enough features to satisfy early customers and provide feedback for future product development.)
3. How you validated or plan to validate your idea for the business which may be a survey you performed, provide a number of responses or other validation data and the questionnaire
4. Your growth strategy for the projected three years;
5. Your milestones to develop additional segments of your product(s) in the three years that correlate with your growth strategy.