Many entrepreneurs often wonder how to transform their ideas into a concrete and dynamic plan. Regardless of the size of their ventures, entrepreneurs must prioritize developing a business plan from the outset. This practice allows them to carefully consider the key elements driving their ideas.
Typically, the first step is to pose questions such as "who is our target audience?", "how do they gain from what we provide?" or "which problems are we solving?" and others. However, thorough and comprehensive customer comprehension remains underutilized by the majority of entrepreneurs, particularly local ones who believe they have a good grasp of their communities.
Here, we focus on outlining the process of starting the creation of your business plan, particularly for a new community mall in suburban locations. We will walk you through an illustration of creating target customer personas based on preferences, aiming to enable you to see them as individuals rather than an abstract idea.
Several important factors need to be taken into account for a successful business development plan for a new community mall. Let's begin!