What is your online business plan
Every business idea is unique! Be it the business model, the marketing strategy or you as the founder who gives the company your personal touch. Every business plan is also individual. Only the content, the structure of a business plan remains basically the same. In the following section we have put together for you how a business plan is optimally structured, what content should not be missing in any business plan and valuable background information on the individual components.
There are currently no official requirements for creating a business plan. Depending on the addressee, a business plan should meet certain requirements.
Your business plan should at least consist of the modules business idea, market & competition, marketing & sales, business organization and financial planning including various calculations. Your plan should have a minimum of 10 to a maximum of 50 pages. How detailed the individual business plan is in the end depends largely on the start-up project and the goal pursued with it. If the business plan is used, for example, for submission to banks, the main focus should be on developing the idea and extensive financial planning that gives the reader a clear picture. The requirements and content can differ depending on the industry. A business plan for a hairdressing salon can have different focuses than a business plan in gastronomy.
The business plan should not only consider the start-up project, but also subsequent growth and expansion processes. The business plan not only serves as a guide during the start-up, but also accompanies the founder as an entrepreneur. However, the business plan must always be adapted to the new circumstances. If, for example, new competitors enter the market, a previously optimally planned sales strategy may have to be redefined.
The structure of a business plan essentially consists of the following points:
1. Executive summary
The executive summary forms the beginning of your business plan. The reader gets to know you and your business idea. Briefly and concisely summarized, you bring the content of your business plan to the point. Here the reader decides whether it is worth paying more attention to your business plan. The executive summary forms the beginning of your start-up project and should convince.
2. Founder profile
In addition to the business idea, you as the founder shape the individual character of your business plan. Introduce yourself and your team. The reader is interested in your skills and experiences that will make you the entrepreneur you want to be in the future. But your weaknesses also find their place here. Qualifications for which there is a backlog should be explained.
3. Business idea
The heart of your business start-up. The business idea forms the core of your business plan. The rest of the way builds on this chapter. You should be familiar with this and provide the reader with all the necessary information. Describe your business idea and the business model based on it in detail. Present your offer to the reader. At the end of the chapter, all basic questions should be clarified and the unique selling point of your offer should be clearly highlighted. Make the goals for the next 3 to 5 years clear and let the reader participate in your visions.
4. Target audience
You should know your target group better than they yourself. Collect everything you know about your future customers and divide them into suitable segments. Create the perfect customer and introduce them to your readers.
5. Market & Competition
This chapter explains some of the feasibility of your business idea. Base your assumptions on realistic and meaningful data and describe your competitors. Each chapter has to be convincing in its own way. Show the reader that you know your market and that you are prepared for any unexpected market developments. In addition: A detailed market and competition analysis is a prerequisite for sound financial planning.
6. Marketing & Sales
Give your idea the attention it deserves. This building block is underestimated by many founders. But: The best product is of no use if it does not reach the customer. Consider the so-called 4 P’s - Product, Place, Price, Promotion. Determine all the important facts about the offer, price, sales and advertising. Finally, determine the necessary marketing budget for this marketing strategy.
7. Business organization
How is your company organized and how are the tasks distributed? The organization of your company determines the future structure and legal form. Describe the organizational structure of your company and address your tasks in the company. Future employees will also find their place here.
8. SWOT analysis
In this chapter you show foresight. In addition to the strengths and weaknesses of your company, you should pay particular attention to the opportunities and risks in this section. Prove that you can deal with future risks and hurdles and already consider the first steps how you can counter them.
In addition to the business idea, the financial part is certainly one of the most interesting chapters of a business plan. Investors and capital providers in particular pay special attention to this section. If you fear difficulties here, get external help. Most business plans fail here. Credit requests are rejected and important strategic partnerships fail. Always consider a sufficiently large time horizon and substantiate your assumptions with meaningful figures. Be realistic.
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