THRIVING IN CHAOS, BY VICTORIA PREW

Kickstart the New Year: The Ultimate Question Framework for Your Business Plan

Read time: 3.5 minutes

Happy Monday team 👋

Building a successful business isn’t about filling out a templated plan—it’s about asking the right questions.

If you're early on in the startup game, take an hour out to think about the below questions. The more clarity and focus you have upfront, the clearer your vision will become.

I've put together a question-driven framework inspired by startup leaders like Y Combinator to guide you through building and refining your business idea. Think of this as your mini MBA toolkit for crafting a high-impact business strategy.

❓Business Planning Questions:

Step 1: Define the Problem

• What is the specific problem you are solving?
• Why does this problem matter now?
• How urgent is this problem for your target customers?
• What happens if the problem isn’t solved?

Step 2: Validate Your Solution

• How does your solution uniquely solve the problem?
• Why is your solution better than existing alternatives?
• Have you spoken to real customers to validate the need? If not, why not?
• What is your MVP (minimum viable product) to test this idea quickly?

Step 3: Identify Your Market

• Who are your early adopters? (Be specific.)
• What pain points do they experience daily that your solution solves?
• How big is your total addressable market (TAM)?
• How will you prioritise a smaller niche to build traction before scaling?

Step 4: Assess the Competition

• Who are your direct competitors? What do they do well? Where do they fall short?
• How will you differentiate your product or approach?
• What advantages do you have that competitors can’t replicate?
• Why hasn’t someone solved this problem better already?

Step 5: Define Your Business Model

• What is the core value your customers are paying for?
• What pricing strategy aligns with that value?
• What are your primary revenue streams?
• What are the key costs associated with delivering your product/service?

Step 6: Set Key Metrics

• What does success look like in the first 6–12 months?
• What are your most critical KPIs (key performance indicators)?
• How will you measure customer satisfaction and retention?
• What benchmarks can you compare your performance to?

Step 7: Plan Your Go-To-Market Strategy

• How will you find and acquire your first 100 customers?
• What are the most effective channels to reach them?
• What is your customer acquisition cost (CAC), and how will you optimize it?
• How will you leverage referrals, word-of-mouth, or viral loops?

Step 8: Forecast Financials

• What is your runway? How much capital do you have and need?
• What is your projected revenue for the first year?
• What are your fixed and variable costs?
• What assumptions have you made in your financial model? Are they realistic?

Step 9: Build Your Team

• What key roles are critical for your success?
• What gaps exist in your current team?
• How will you attract and retain top talent?
• What shared mission or values will keep your team aligned?

Step 10: Test, Iterate, and Scale

• What is your riskiest assumption? How will you test it first?
• How will you gather customer feedback to improve your product?
• What processes will you use to adapt quickly as you grow?
• How will you know when it’s time to scale?

📚 Recommendations:

• Grace beat me to it! My friend Grace Beverley has put together The Business Method - a really epic guide to launching a business, I'd highly recommend checking it out if you're looking for a thorough guide / business course.

The Barrier & The Advice:

I'm adding in a new section to my weekly newsletter! You might remember when you signed up, I asked for your biggest barrier to starting a business. The questions have been super interesting, so (in the spirit of sharing learnings), I'll be tackling your questions as we go. Here goes:

What I'd do:

• (Question relates to a home improvement startup):
  1. Profile Your Ideal Client:​
     Start by creating a detailed profile of your dream client. Think about where they shop, the type of content they consume, what inspires them, and the problems they need solving. The more specific you get, the better you’ll understand how to position yourself. For example, are they busy professionals with no time to design their spaces? Or parents looking for functional but stylish solutions? Once you’ve defined this, tailor everything—from your messaging to your service offerings—to meet their specific needs and think about content ideas around this.
  2. Offer Free Consultations & Connect Locally:​
     Word of mouth is one of the most powerful tools when building a reputation. Reach out to your local network or online communities and offer no-strings-attached consultations. People love the chance to connect with someone offering value upfront. Not only will this help you better understand your audience’s pain points, but it will also build trust and goodwill—which often turns into paid projects. Focus on genuine relationship-building.
  3. Master One Social Platform and Build Exposure:​
     Choose one platform (e.g., Instagram) to showcase your work. Start by posting quick, impactful before-and-after photos of your projects. Even if you’re working for free at first, document everything—your process, transformations, and personal story. Focus on sharing your “why” (e.g., why interior improvements matter to you and how it transforms spaces). Build consistency and don’t overthink perfection; authenticity resonates far more. Do x5-10 small but meaningful projects for free, use the results to craft a portfolio, and leverage that exposure to convert your first paying clients.

Have a great week, and chat next Monday!

Victoria