What is a business plan? Goals and strategies of a business plan
The business plan or business plan is the working paper that contains all the goals and strategies of a company with the basic requirements, projects and measures for a certain time frame.
The purpose of a business plan
The business plan has several tasks. On the one hand, it is used outside the company to convince potential donors. On the other hand, he also has an important function within the company: He forms the basis for further strategy and planning concepts in the company.
The way to your own business plan
How does planning and structured presentation help you in the course of business?
The business plan not only takes on an important task when starting a company. Rather, a good business plan accompanies the company, because it is continuously supplemented and updated to the changing circumstances. The classic business plan becomes a constant companion for questions about the positioning of the business strategy, the analysis of the competitive situation SWOT and the further development of the company.
The business plan consists of two parts:
- the part of the text that provides a detailed description of the business idea or company,
- a number part (the financial plan), which considers statements about the financing and development of the business idea / company. Here we have a description for financial planning.
Benefits of a Business Plan:
- A business plan serves as a central management element and fulfills important internal tasks.
- It provides clear guidelines on which the work of management and employees can be oriented.
- It can also be used as an orientation aid.
- The business plan is also used to define the company’s goals and strategies. Helps to take stock of how the company has developed.
- Allows you to identify bottlenecks in the area of personnel or capital at an early stage.
- Carry out target / actual comparisons.
- Thinking through and questioning your own ideas.
- Important external tasks from the business plan
- A business plan is not only important for the internal structure of a company. A good business plan is also an important basis for external perception, because it is the company’s calling card.
First of all, it serves to convince potential investors of the company in order to secure the financing. This may be necessary when starting a company, but also later when acquiring new investment funds for marketing or for the development of new products.
On the other hand, the business plan can also be used in negotiations with potential partners or offices. In this way it can be used to secure existing and planned business relationships with customers, suppliers, etc.
A business plan has the following tasks outside the company:
He has to do important persuasion work with third parties – such as potential investors. It gives the first impression of the company.
Application for a start-up grant, the expert opinion depends on the business plan.
When is a business plan needed?
When starting a company, it makes sense to write a business plan. It helps to find investors and business angels, investors or banks to convince them of the business idea.
In addition, a business plan forces the start-up to deal comprehensively with the business idea and its implementation as well as the possible weaknesses of the idea using SWOT analysis.
But also an already existing company can benefit from a business plan. Many companies are still managed by “feeling”, which is why there is often no clearly recognizable strategy or guidelines against which success can be measured.
In addition, a business plan leads to more transparency in business decisions. A business plan for an already existing company is also necessary for the procurement of outside capital and investors, as more and more investors and capital providers require such a plan.