From idea to business idea
How the market supports my business idea
Getting ready for the market
Financing - Profit analysis
Do I need other skills?
Tools & References
Business plan
Formulating a business idea is the first step towards fulfilling your dream of becoming an entrepreneur. Your business plan presents your idea of which type of products or services you are going to sell or offer. The business plan also describes important strategies on how you will reach your customers and who you will reach with your products or services.
A business plan also points out the strengths and unique competences of your company. A thorough business plan increases your chances of success.
Your business plan in general should include answers to the following questions:
Business plans may have various content. However, a typical and simple structure of a business plan includes the following:
Customers
To be able to reach your customers it is necessary to know who they are and to be aware of related costs.
In this section you should include information about:
Competitors
An analysis of the strengths and weaknesses of current and potential competitors helps you to identify your own opportunities and threats. You should insert information in key words for each relevant competitor group:
Operations plan: your day-to-day business
This part includes information on:
Marketing
Here you should give details about:
Sales - Key to long-term survival
Providing information on:
Start-up expenses
Calculate your initial investments. Which activities are needed to get the enterprise off the ground? Which related costs are foreseen? Try to fill in the below table, be not too modest nor exaggerate on what you need for a good start.
Finances
Where do you want your enterprise to be in 12 months from now?
State which income and expenditures are to be expected for the first 12 months.
Projections - And where will your company be beyond the first year?
Think of the following questions:
• Where will the enterprise be in 1 year?
• In 3 years?
• In 5 years?
Your business plan in general should include answers to the following questions:
- What is the purpose of my business?
- Is there a demand for my product or service?
- Which is my target group or target groups and how do I reach it or them?
- Why should any customer buy something from me?
- Is my business really idea unique? If not, what singles out my business idea compared to my competitors?
- How do I make an income?
Business plans may have various content. However, a typical and simple structure of a business plan includes the following:
Customers
To be able to reach your customers it is necessary to know who they are and to be aware of related costs.
In this section you should include information about:
- Profile of your customers
- Why this particular target group?
- How do you get their attention?
- Measures to convince them to buy or use your product
- Costs of these measures during the first business year
Competitors
An analysis of the strengths and weaknesses of current and potential competitors helps you to identify your own opportunities and threats. You should insert information in key words for each relevant competitor group:
- Profile of your competitors
- In what way are they competing with you
- Why do customers buy from them
- Why are customers going to switch to you
- Measures to be taken in order to convince potential customers to switch to you
- Costs of these measures during the first business year
Operations plan: your day-to-day business
This part includes information on:
- How will your products be produced / your service be carried out?
- External parties to be involved in the implementation of your day-to-day business
- Distribution channels you are going to use in order to reach your customers. Related costs.
- Quality assurance measures
- Staff is needed
Marketing
Here you should give details about:
- Your marketing strategy
- Your marketing message
- Your marketing strategies
- The marketing instruments you are going to use
Sales - Key to long-term survival
Providing information on:
- The price you will charge.
- Why is your price set at this level?
- Are you planning to use discounting?
- If yes, what will it be, and how will it be offered?
- Which quantities will be sold?
Start-up expenses
Calculate your initial investments. Which activities are needed to get the enterprise off the ground? Which related costs are foreseen? Try to fill in the below table, be not too modest nor exaggerate on what you need for a good start.
Finances
Where do you want your enterprise to be in 12 months from now?
State which income and expenditures are to be expected for the first 12 months.
Projections - And where will your company be beyond the first year?
Think of the following questions:
• Where will the enterprise be in 1 year?
• In 3 years?
• In 5 years?
