Skip to content

The business plan, the binomial of the entrepreneur

The often criticized business plan is an essential step in creating a business from the moment you look for a banker, an investor, an incubator, a partner, but it can serve as a point of reference as the evolution progresses. of the company. and constantly updating it allows us to better identify the points to improve. How to use it wisely?

The business plan will allow you during the evolution of your company to think about the company’s strategy and the direction you want to take. You must adapt to the changes linked to the evolution of the market and the competition that will lead you to redesign a new development plan. This will allow you to analyze what you could change, the forces on which you must rely, but also the risks of the moment T. You will have to take into account the risks that lie ahead in the short, medium and long term. It turns out to be a fundamental tool to help manage the company, allowing you to see if your company has development opportunities or what you should do to anticipate a crisis.

The models of business plans presented to the creators are abundant and follow a little questioned pattern. In reality, it is the project leader who contributes its added value but also the product or products or services that it offers. In the context of an evolution of the company, the history lived by the manager and his collaborators is added to the business plan.

The Essentials and Essentials Executive Summary (Summary)

This is an essential summary to present your project as part of starting a business, but also for entrepreneurs who want to raise funds. It allows you to remember the essential points if you want to see your business evolve towards exponential growth!
You must be able to present your analysis to your collaborators, but also to the investors who have supported you so far. It is located at the top of your business plan and should not exceed 2-3 pages and provides a general description of your project/company.

Some fundamentals in the development of the business plan

Include the history of your business

It is always relevant to go back to the genesis of the project because it shows the path traveled, the successes but also the difficulties and obstacles that you have been able to overcome so far and it is time to assess the path traveled:

  • How was your project born? How did you get the idea?
  • Why did you choose this idea?
  • How far have you come from the beginning? What are the stages you went through?
  • What is the current situation?

Present your team and its evolution

In a business development, it happens that one or more associates leave the ship, so it is necessary to be lucid and explain the reasons: skills, human relations… You may have hired employees and it will be necessary to discuss their skills and their added value and what is the reason as well

Present your products or services

Regarding your offer, it is absolutely necessary to see if your product corresponds to an expectation and if it is at risk of becoming obsolete due to environmental, economic or technological developments.

Locate your competition

And yes, the panorama of competitors is constantly changing and, therefore, locating them and knowing their strengths, but also paying special attention to entrants (direct competitors: presentation of their products, their positioning, their strategy, as well as their strengths and weaknesses and indirect). competitors).

Highlight your customers

Your product responds to a real need in the market but everyone knows that consumers have not sworn loyalty and therefore they can go to your competitor without hesitation, the internet opens up all the possibilities for them.

Detail opportunities and risks

It is very simple in this part to define the essential points that will determine your success and those that, on the contrary, can lead to the bankruptcy of your company. Identifying the risks and stating them shows that you have analyzed all possible eventualities and have thought about the risks you are likely to face.

Leave a Reply

Your email address will not be published.