Business Plan
What is a business plan and why do you need it?
If you are interested in entrepreneurship or if you dream of starting your own business, then you have probably also heard of the importance of a business plan. Maybe you even downloaded one of the many models online. And maybe you're already tired just thinking about everything that it means to make a business plan. If you don't know exactly where to start, devising a business plan can seem like a complicated job. But don't lose hope! It's actually not that difficult.
So what is a business plan?
The business plan is the backbone of your company and not "just" another document that you have to present to the bank or potential investors, as you might think. It's basically the sketch of your business put on paper. Although what is on the sheet of paper is not yet a business in the truest sense of the word, it is still a great way to prepare, control and develop your idea with the aim of creating a real and profitable business. It's the game plan, basically.
But you need to know that a great business plan will lead to a 34% faster development of the business. It also gives you an idea of the direction your business will take, with the chances of reaching profitability being higher by 16%. A good business plan is also a necessary tool to raise the money you need for your idea, demonstrating to investors that you know how to take your business to success.
What sections does a business plan include?
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Concept
What's the main idea of your business?
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Opportunity
What is the problem in the market, your solution to it and the value you offer (UVP)?
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Product
What product or service do you offer?
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Business model
How will you make money and what do you need to be successful?
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Competitors
Who is the competition and what sets you apart from it?
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Clients
Who will buy your product or service?
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Marketing
How will people find out about your business?
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Roadmap
What are the most important steps you need to take to be successful?
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Risks and challenges
What are the challenges and possible risks?
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Equip
Who are the people who will help you take your business to success?
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Traction
Do you have results (sales, letters of interest from potential customers, visitors to your site) that suggest that your business will be a successful one?