A Business Plan is basically a planning tool in which the main variables involved in a business are presented in an organized manner. Obviously, the process of making plans for setting up a new business has always existed, even if empirically or only in the entrepreneur’s mind. But the setting up of a document analyzing the main variables involved in future business ordered according to a model, or a logical order, which is what characterizes a business plan, is relatively recent and has become popular with the emergence of so-called companies. You can have a look at the Review and come up with the solutions now.
“Dot-com” from the ’90s on. Today, the “Business Plan”, in good Portuguese, is part of our daily life and when we talk about a new venture, we almost always talk about the elaboration of a Business Plan as the first step to be taken.
Objective Of The Business Plan
For most entrepreneurs, the preparation of the business plan has as its main objective the presentation of the project to potential future business partners such as partners, incubators and investors.
However, although it serves this purpose very well, we consider that the main benefit of setting up a Business Plan is the knowledge acquired by the entrepreneur himself during this process. If taken seriously, the preparation of the business plan induces the realization of planning in an organized manner, forcing the entrepreneur to reflection.
Questions such as: who is the buyer of my product? Is it possible to produce it at a commercially viable cost? Is my project profitable? And countless other questions to be analyzed, are crucial to the success or failure of the venture and the search for these answers have good chances to generate knowledge for the entrepreneur, reducing uncertainties and consequently the risks for the entrepreneur.
One can think of the business plan as a series of questions that must be answered by the entrepreneur in order to prepare him for the effective assembly of the business. The table shows the structure of a Business Plan model developed according to this concept:
Questions For The Entrepreneur
- Note that, in a nutshell, virtually all relevant aspects of a venture have been addressed. An entrepreneur who is able to plan and answer these questions satisfactorily will surely be better prepared to face the market.
- Of course, putting together a good business plan does not guarantee the success of the venture, but undoubtedly represents an important step in that direction.
The use of the business blueprint happens to be an essential detail and that is the reason you can have a perfect detail. Great plans really pay off and that is what you have to go for. The results are usually positive and that makes the whole process quite acceptable now. We are aware that the strategies do not always go as thought, but it is true that there are always scopes for improvisation and you can have a lot of it. This is where you can come to the win-win situation. True it is that you need to search a lot for these sorts of works, but the end of the day, the option is always open. This is where the business processes jump up quite high now.