A widespread opinion among entrepreneurs is that they think they can develop their business strategy en passant. But a detailed business plan, in which time was invested, offers a big one added value. In the following article you will find out when a business plan is needed and which points should be considered when creating a business plan.
How a business plan is structured
A business plan can be described as a roadmap to self-employment, as it contains the most important information for planning and implementing the business idea. Especially at the beginning, in the initial phase of setting up a business, it pays off to have a plan that shows you in which direction you need to go and what the next steps are. A well thought-out business plan helps with the successful implementation of business ideas. The business plan essentially consists of two building blocks:
in the written part the business concept is explained in detail. It is important e.g. B. that it is answered what the offer looks like in detail, who it is aimed at (target group), how attention should be drawn to it (marketing strategy) and what opportunities and risks (SWOT analysis) the founders see themselves exposed to. Ideally, the text part of a good business plan is like an exciting short story that will not let the reader go. The written part should be at least 20 pages long, for comprehensive business concepts this can also be around 50 pages.
Of the financial part or financial plan shows the financial feasibility (profitability forecast) of the start-up project. It also shows whether the business model is viable. The financial plan should contain essential points such as sales planning, liquidity planning and profitability planning for the next three years.
Create a business plan for yourself
Founders create a business plan primarily for themselves. Because this acts as a compass that shows the direction. But even after the foundation, the business plan should not simply disappear in a drawer, but should be implemented consistently. Of course, adjustments have to be made if the framework conditions change or planned measures have turned out to be unsuccessful. the business plan-Creation forces founders to use the business start-up to plan very precisely and to deal with their business model down to the smallest detail. To do this, founders have to ask themselves essential questions such as: B.: What exactly should my product or service be? Who are the customers? And how can these be obtained? How high will the turnover be? What are the costs? Only when these questions have been answered and the concept put through its paces was made, it can be estimated whether that business model is viable and possible loans and subsidies can be applied for.
Create a business plan for the start-up loan application
Very few founders have the opportunity to realize their business idea through bootstrapping. Anyone who has no money to start a business should think about the possibility of start-up loans. A detailed business plan is required for the application. Because the lenders want to see whether the start-up project is right and the loan can be repaid. To apply for a start-up loan, the business plan must be submitted to the house bank. After successful approval, it will be forwarded to KfW. The sum will only be paid out if both have agreed.
Convince investors with the perfect business plan
Investors and business angels also first look at the business plan before inviting entrepreneurs to an interview. They then select the most interesting projects from a large number of business plan submissions. For larger ones venture capitalcompanies, hundreds of business plans are submitted every day. Therefore, founders should stand out from the crowd at first glance with their presentation and content. In addition, great importance should be attached to a potential analysis (external link). In this case, the market potential and the sales potential must be estimated as realistically as possible. The greater the potential, the more interesting the project is for investors.
Create a business plan for the employment agency or job center
Even those who want to become self-employed out of unemployment must draw up a business plan. Depending on the type of funding (start-up grant or entry fee), the presentation and content of a business plan change. However, when applying for both grants, the viability of the project must be verified by a Expert Opinion (carrying capacity certificate) be detected. service tip: The start-up center of the nationwide initiative “Deutschland starts” offers founders such a certificate within 48 hours to create.
Tip: One Business start-up advice can help with the creation of a business plan and about the process of business start-up also supported. The consultant knows which points must be included in a business plan and how it is structured. Depending on the situation, counseling can also be funded (service: funding check).