The business plan
What is a business plan and why do you need it?
The business plan is a written corporate concept. It contains all the steps that young entrepreneurs are planning so as to implement their business idea. The first business plans were created in the USA as a tool for raising capital from banks, private individuals and venture capital companies. In the meantime, almost all of our investors ask for for a business plan.
Studies show that start-ups with a business plan are more successful than those without. Because when you write it down, it then becomes clear whether the idea is really mature, what information is still missing, and what the company could actually look like in concrete terms. It also serves as a timetable that leads through the chaotic start-up or takeover phase and provides monitoring instruments for the time afterwards.
Your business plan depicts your
- visions,
- assumptions,
- market assessments and forecasts
from a business-related point of view.
With the help of the business plan, your idea gains transparency in relation to
- feasibility,
- economic efficiency,
- and customer benefit.
Numerous young entrepreneurs
still start without a business concept. With the help of a business plan, you can greatly reduce your entrepreneurial risk. In existing companies, a business plan sets the course and thus serves as a control tool. The business plan is therefore primarily an important planning tool for you, yourself! It is also a prerequisite for investments when it comes to potential financiers such as banks or private investors.
Ultimately, the market decides the value of a business idea. With the help of a company concept, the idea can be thoroughly examined again before it’s put to a practical test.
With your business plan, you don’t have to show the detailed path to successful implementation. The business plan should serve as a guide. Think about the most important framework conditions and list any open questions. In this way, major damage can be avoided.
This also creates a meaningful document for the presentation of your business idea. During capital negotiations, you can use the business plan to clarify open questions quickly and competently. This means that you are well prepared for all kinds of questions.
Later, the business plan serves as a monitoring tool, since the implementation of the individual steps can be checked very precisely afterwards.