Create a business plan

Making a business plan is the way to extensively map out your opportunities, competition and potential customers. In addition, it gives you a good insight into the feasibility of your plans and goals. If you make a business plan, it is useful for yourself ... and for possible lenders!

When you write a business plan, in the summary you give a concise overview of yourself, your business idea, the market, potential customers and potential competitors. And, very importantly, your earnings model. 

In addition to an overview of your personal data (contact details and relevant training and work experience), you also provide insight into your competitors and motivation: why do you want to do business and what needs are you going to meet? What is your idea and why does this seem like a good idea to you? This is your chance to present yourself! In addition, you also answer questions such as:

• Do you start alone or with others?

• Do you hire staff?

• Where do you establish your company?

• In addition to being an entrepreneur, are you also employed?

• Do you need permits?

• What do you outsource?

• How do you arrange your pension?

Here you describe your target group, your competitors and the development of the market. Most entrepreneurs make a SWOT analysis in their business plan and also add the results of their market research. The SWOT analysis is an overview of opportunities and threats in the market and strengths and weaknesses of your company.

Do you write a business plan for the hospitality industry or a store? And are you looking for a suitable location for your company? Then you should also think about where your customers and competitors are located. 

You want customers to choose your company and not the competitor. In your marketing plan you describe how you intend to recruit your customers and how you respond to the competitive market. The marketing mix is also discussed here: your product or service, location, promotion and the price you ask for it. With this you translate your plans into practice. 

The financial plan helps you to see if your business idea is feasible. It is an indispensable part for potential investors. In addition to a business model, revenue expectation and the liquidity budget, you also make an overview of all your costs in your financial plan. Think of costs for renting a building or office space, purchasing sales products or salaries.

Here you will find everything that is important for your company and that you have not yet mentioned. Do you have a brilliant idea for a new product and do you want to apply for a patent or are you planning to deliver your product or service abroad? Then it is important to mention it. This also applies to any competition or relationship clause for (future) business relationships or employees. Show that you have thought about everything, for example even checking the zoning plan if you want to start a home business.

10/2021