Your idea is feasible? Then clarify your intentions. We recommend you to set up a business plan, regardless of whether it is required for investors, or other stakeholders. A well developed business concept is the foundation for your success!
A solid business plan outlines strategies and specific objectives, related to the financing, production and distribution of the core purpose of the enterprise. Additionally, required resources and dependencies are captured. Thereby, a business plan exposes errors and failures at a very early stage and forces you to make decisions early on. Not only in the initial stages but also for subsequent expansions, the business plan serves as an important communication tool for potential business partners, investors, banks, the Employment Agency and other founders.
Our advice for you:
- Do your planning in written form, comprehensible and realistic.
- Involve potential customers in the planning process.
- Gain transparency of your competitors.
- Allow enough time for the development of your business plan.
Business plan
In which way you design and arrange your business plan is up to you. Past experience has shown that using a word processing program for the qualitative part and a spreadsheet program for the quantitative (financial) part is very useful. Including charts and pictures will help to illustrate your intentions when setting up the market analysis and competitive analysis.
Stick to the following advice when writing your business plan:
- Seek advice early.
- Be brief, but do not leave out any important details.
- Be clear and avoid too many technical terms.
- All figures in the business plan must be comprehensible for the reader, you may use the appendix for additional calculations.
- Include adequate reserves.
- Do not conceal the actual capital requirements. You should focus on reality rather than appearances.
Useful links:
http://businessplan.lexware.de/default2.aspx?view=0>p=PersoenlicheAngaben
http://www.start2grow.de/de/services/downloads/
http://www.kfw.de/kfw/de/index.jsp
