Lifestyle Business Checklist Continued

I’m still working on my Lifestyle Business Checklist and it’s coming along quite well. I’m asking very specific questions that I’ll have to answer if I ever want to examine a market. Here is my checklist so far

  1. How do you want this business to affect your life?
    1. How much monthly income (salary) do you want your business to earn you?
    2. How many hours per week maximum do you want to spend managing it?
    3. From where do you want to be managing it?
    4. How fun is it supposed to be?
    5. What feeling will you get when you tell people that you own this business?
    6. What type of relationships would you like to have with your partners (not co-owners)?
  2. What market is this for?
    1. How are you a part of this market or how do you understand it?
    2. What is it enthusiastic about?
    3. What problems do they have?
      1. How are they currently solving this problem?
    4. Tell me about the regular purchases this market makes
      1. [Product name]
        1. How often is this purchased?
        2. How much does this product cost?
      2. Total amount spent on all products
        1. Per month
        2. Per year
      3. True Fans
        1. Demographics
          1. Gender
          2. Age
          3. Ethnicity
          4. Income
          5. Marital status
          6. Location
          7. Religious Affiliation
          8. Political Affiliation
          9. Education Level
        2. Interests/ Things they own or use
          1. Hobbies
          2. Music
          3. Gadgets/Tech
          4. Clothing (type and fashion)
          5. Books
          6. Car/transportation
          7. TV Shows
          8. Movies
          9. Food preference
  • Which media they consume/channels to reach them/how they hear about products
    1. TV channels
    2. Magazines
    3. Websites
    4. Online video channels
    5. Streaming video services
    6. Blogs
    7. Forums
    8. Trade Journals
    9. Podcasts
    10. Radio stations
    11. Music streaming services
    12. DVD commercials (which DVD’s do they buy?)
    13. Books (Which books can you get a reference in?)

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