Writing a business plan
Identifying your competition has benefits for you and your business. Learn how to do it here and get ahead of your competitors!
Writing a business plan is the first thing you will do if you want to become an entrepreneur. It takes some time, but it’s a great investment for you and your business. After all, it’s going to help you get started and can be a reason for investors to invest money in your business.
What is an entrepreneurial plan?
In a nutshell, a business plan is a formal document that outlines the goals of your business. You also describe how you are going to achieve these goals and by when you want it done. You also bring all opportunities, competitors and (potential) customers in the picture.
What is in a business plan?
An entrepreneurial plan consists of 8 parts. I have listed all 8 below.
- Introduction or summary
- The entrepreneur
- The company
- The market
- The marketing plan
- General and Legal Issues
- The Business Model Canvas
- Financial Plan
How do you create a business plan?
You create a business plan by completing the 8 sections.
In the introduction of your business plan you give a brief summary of your plans. Do this in 1 to 2 A4’s. The summary shows that you have your goals well in mind and can distinguish the main issues from the side issues.
Who are you? Tell something about yourself, both important details such as contact information, education and work experience as well as your motives, qualities and ambitions. This shows what type of entrepreneur you are.
Then tell something about your company. Here you go into your plans and goals. Also mentions interesting developments in the industry of your company. Also indicate what you need for this, such as a KVK registration, permits and insurance.
In this chapter you look at the market in which you find yourself. Describe the market, your target group and the competition. Tell why your product or service is a gap in the market and has a chance to survive in the market.
The marketing plan
In the marketing plan you describe how you are going to market your product. How are you going to ensure that the customer comes to you instead of the competitor? Look here, for example, for distinguishing factors.
General and legal matters
Show that you are aware of legal issues. Show what you need to take into account and draw up your terms and conditions if you want to use them on your website. And what about the AVG?
The Business Model Canvas
The Business Model Canvas has many different parts which will ensure that you actually draw up a small and concise business plan. You bring all your business aspects into focus.
The financial plan
Whether you need funding or not: make sure you have your finances in focus. Make sure you have a clear revenue model and map out all your finances using different budgets. If necessary, explain these as well.
Writing a business plan
Writing a business plan takes a while, but when it’s finished you have a nice and solid foundation for your business. If all goes well, you’ve done all the research on your business and the market around it.