And it is on you to achieve a fit without freezing it.
In What I have Done Wrong I have pointed out that there are traps and how I tried to avoid them
But there are steps before and I try to point them out for innovation businesses:
Ask a few principle questions
In what business do you want to be in?
What technology, products, behavior, services ("product") will you be able to provide?
Who is your dream client?
Who will be your strongest competitor?
What differential advantages does your business provide for this client against this competitor?
Who is your dream partner?
Is your financing right?
Describe a few things in a compass
Targets and milestones
Outline a marketing strategy
Analyze and segment your markets
Select the segment where you can become leader because of your differential advantage in the competitive arena - describe as CATWOE
ClientsDescribe a rough marketing and promotion mix
Transformations (like knowledge into margins)
World View (your business principle)
Environment (who influences your business)
Final questions before selling
Do you have identified the segment for leadership?
Are there known product deficiencies?
Are the prices right?
Is the timing right?
Do you know your position in the competitive arena well enough?
Do you have the right marketing resources?
Do you have stories for the right channels?
Are you prepared for insight sales?
Is your sales force fit?
Time to think about success factors?
Let me speak with the 14 keys of success Steve Jobs recommended and how I see them through the lens of UnRisk: Lessons of Steve Jobs
Don't believe in those who suggest you need to work your ass of - you need passion, to do things that matter for those who care.
Look into the numbers
Be patient, but look whether you can create enough cash flow to pay the costs of your business, the bills and food. It may be in a bootstrap arrangement, but you need to know the finical impact of your decisions. Don'r forget: you gave up a salary and you have to pay yourself.
Coming from where you are to where you want to be?