Business plan
Your business plan is first and foremost a management tool to help you to make the right decisions.The business plan should give you and other people a realistic picture of what you are going to do and will be an important governing document during your start-up phase.
What is a Business Plan
A business plan is a document that describes the strategy a company will use to succeed in establishing itself and gaining a competitive advantage. It includes a market analysis, an overview of products and services, and the target customer group.
The business plan should also contain budgets and outline a strategy for how the company will grow. A conscious approach to sustainability can be an important tool for growth and success. Sustainability is about using resources responsibly, reducing environmental impact, creating a fair working environment, and ensuring long-term economic growth. In your plan, describe how sustainability will be a part of your business.
Why create a business plan?
When you have worked on your business model and have an overview of how you will run your business, it can be useful to formalise this in a business plan. The business plan will improve your chances of a successful start-up, and provide a clearer understanding of the actual risks you are taking on.
When should the business plan be drawn up?
You should prepare your business plan when you have established the most important decision points in your business model. A business plan will make it easier to see links between what you will sell, the market and the resources that you will need in order to start your business.
The Business Plan as a Sales Tool
The business plan is also a useful tool when presenting the project to banks, partners, authorities, and others. Investors want a clear and well-structured presentation of the projects they are considering investing in.
Be actively involved in the development of your business plan
It will give you a good overview and provide a basis for use in decision-making before you make investments and sign agreements. It is important that you are in control of the work relating to the business plan and do not leave it to others. It can be a good idea to seek advice and guidance along the way.
