Your business plan is first and foremost a management tool to help you to make the right decisions.The business plan should give you and other people a realistic picture of what you are going to do and will be an important governing document during your start-up phase.
How do I create a business plan?
When you have worked on your business model and have an overview of how you will run your business, you may need to put this into concrete terms in your business plan. A carefully considered approach to the business plan will improve your chances of your start-up business being a success, and you will have a better idea of the actual risks you are taking on.
If you need help from investors, a business plan can be a useful tool when presenting your project to banks, business partners, public authorities, etc. Anyone who is considering investing money in your business concept will want to know what they are getting themselves into.
When should the business plan be drawn up?
You can prepare your business plan after you have established the important decision points in your business model. A business plan will make it easier to see links between what you will sell, the market and the resources that you will need in order to start your business. It will give you a good overview and provide a basis for use in decision-making before you make investments and sign agreements. It is important that you are in control of the work relating to the business plan. It can be a good idea to seek advice and guidance from other people along the way.