IN THE BEGINNING, THERE IS THE BUSINESS PLAN

by Muhammad Inam Ul Haq
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Various benefits of a business plan

Do you want to become self-employed or expand your young company?

With an effective business plan, you lay the foundation for your project. When you work out a business plan, you test your business idea and create the conditions to score points with banks and investors. This helps you decisively to secure the financing for your start-up or your business expansion.

We provide you with valuable templates free of charge and help you avoid the most common mistakes. Make an appointment with an experienced start-up consultant.

THE 6 MOST IMPORTANT QUESTIONS ABOUT THE BUSINESS PLAN

What exactly is a business plan?

The business plan or business plan summarizes in a structured document which idea an entrepreneur is pursuing and which steps to implement. Business plans are usually 15 to 50 pages long and typically follow a similar pattern. In addition to a precise, easily understandable description of the business idea, the business plan contains figures that depict the business planning in as much detail as necessary.

What is the benefit of the business plan?

This applies just as much to an existing company’s strategic and operational planning as it does to a start-up. With the business plan consultant, you check all important aspects of your company in a structured and understandable form. You illuminate the benefits of your offer for your customers, examine the competition and your position about it, analyze your team’s strengths and weaknesses, and convert the upcoming activities into a schedule. And last but not least, you create financial clarity. First and foremost, the business plan is a guide for your entrepreneurial activities.

If you need the support of funders for your project, the business plan is of particular importance:

At the employment agency and the competent body: to apply for a start-up grant and entry fee to start self-employment

At the house bank: to apply for loans and guarantees and to negotiate overdrafts

For development banks: to apply for subsidies or guarantees

For investors or essential business partners: to discuss commitments and holdings

For competitions: as proof of the business idea

How is a business plan structured?

There is no fixed form specification. Nevertheless, it should not only convince with facts but also with its structure and readability. This includes a clean layout, an appropriate font and size, an appealing design, error-free formulation and correct grammar.

Each chapter in the business plan describes an essential aspect of the project:

  • The range of services and the business concept
  • The vision, the goals, and the strategy
  • The responsible entrepreneur, his team, and the organization
  • The target groups, the market, and the competition
  • Marketing and sales
  • The legal framework
  • The finances with capital requirement planning, profit planning, and financial planning
  • In an executive summary, all critical statements are placed at the beginning of the document for readers in a hurry and better orientation.

What is often done wrong with a business plan?

There are countless ready-made templates for business plans. These samples can give you an impression of what content a business plan should contain. However, they are not allowed to adopt these standard structures and formulations blindly. A company formation and an investment project are always individual. A business plan template is not exactly that.

The competition is underestimated. Always keep in mind that other providers may try to imitate your ideas or offer an alternative product. Even if you have compelling, they don’t always last.

How do I get to a business plan quickly?

You can use a ready-made template and special software for the rapid development of a business plan. Your business and your situation can hardly be taken into account. Especially if you really want to put your idea to the test and if the approval of financing and subsidies depends on your business plan, quality should take precedence over speed.

Who can assist me in developing a business plan?

The general principles of the business plan are imparted by chambers of industry and commerce as well as chambers of crafts in the context of start-up seminars for a small fee. This creates an initial overview and helps to understand the importance of the business concept and its thorough elaboration and documentation. However, individual questions cannot be dealt with in detail there.

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