The best advice I can ever give an entrepreneur is to “fail fast”. It may sound a little pessimistic, but just think about the numbers. Something like 9 in 10 companies that get investment will do no better than pay back investors. If you haven’t even obtained investment yet, the odds are higher than 90% that this will not be your big hit.
The problem is the #1 most important part of a business plan. It’s no accident that most business plan templates start here. If you don’t understand the problem you’re solving , you’ll build the wrong solution. If you don’t have the right problem, it will be very difficult to sell your product.