Whats Next?

Existing Market 

1. I believe the next step for my service is speaking to potential life insurance companies to figure out who would be open to collaborating with me in creating these customizable plans for customers. I believe it's an amazing idea and could be open to extreme profits. However, I believe that innovation is the hardest thing to convince these well known established companies. The best thing to do is create a relationship with another startup company that believes in innovation. It will be hard, but the fact of the matter is that to be a successful entrepreneur you must take risks.

2.
Customer 1:

I asked my first customer about what they thought I needed to do next. Their primary response was that I needed to establish a certain client base. The idea itself is great, but I need to expand my network and develop a business plan with more customers. Companies want to invest in startups that have already done their research and created a client base so they can get off the ground running.

Customer 2:

My second customer suggested I begin talking to big companies that have already made their mark in the life insurance world. Even without trying to gain relationships or partnerships they could offer key insight to the new world I'm trying to enter. Understanding the way your competitors think will give you a great edge to getting better insight on the way clients in this industry work.

Customer 3:

My third customer told me that I needed to focus on the big picture things. He thinks I've gotten the basics down, but I need to focus on how I can develop the company into a bigger one. After the profits start rolling in, how will I keep my customers, how will I expand into a bigger company, will expansion hurt my profits or cause me to lose my base.

3. What makes the most sense in expanding my venture is to definitely formulate a business plan and present it to existing competitors. Not to just create relationships and finding partners to work with, but to get friendly insight on how this world works. I've done my research but the best way to get concrete insight and great feedback is to talk directly to those people.

After that really dive into my venture and start my business plan. After using the feedback to adjust my work, I can finally begin what I've been working at for the past months. I have the financials all i need is my concrete plan to get the business up and running. First step get feedback, second, get some office space, third, create the market and explode.