Before,you make a business plan, should you create the product you want to sell?

Question

Before,you make a business plan, should you create the product you want to sell?

Answer 1

no.. the business plan should be first, followed by market research, followed by 1 prototype of the product followed by finding investors followed by going in to production.

Answer 2

Someone is watching Dragon's Den???

I would reckon it is dependent on the product. If a prototype os needed to verify it works, to demonstrate or show the bank/investors etc., then I would say yes.

But if it is a service or a product that can be drawn and scaled up, then maybe not.

Bear in mind it is probably also dependent on what the investors prefer to have and see!

Answer 3

you should create the business proposal, then if the proposal pases, you make the business plan, then the product.