I want to make a business plan
Once you have a carefully considered idea with both commercial and social goals clearly formulated, the next step is to prepare a business plan.
Preparing a business plan is a matter of describing your business and coming up with a plan for how you want to run and develop it.
Remember that if you are planning a long-term development process, it is important for management to be behind it.
Important for securing funding
By preparing a business plan, you ensure that you have considered key aspects of your business, such as how you are to make your money, which partnerships you should enter into, how you are to reach out to customers, and how an idea can be extended to new markets or with new products.
A business plan is therefore normally also essential for securing external funding.
Short and sweet
Your business plan should include a description of how you expect your investment to repay itself.
It is a good idea to keep the plan as brief as possible so that it is a dynamic document that can be updated regularly. In this way, the plan can support a sustainable business.
- Identify all costs and revenue opportunities
- Examine the risks and uncertainties associated with each component
- Assess the financial consequences of the biggest risks and opportunities and integrate them into the business plan