This summary document tells the story of your project, from its beginnings to its future prospects. Its writing may seem tedious, but you believe in your project, nothing can discourage you! Discover the landmarks to start well.
A business plan, is it necessary?
The Business Plan (or BP) is sometimes called into question but in practice it is quite necessary, for two reasons:
Necessary for the creator (or creators) because it allows him to advance, step by step, and not lose sight of its competitive advantages or the demand of customers; it is a working tool.
Necessary then to explain the business to future partners (partners or shareholders, business angels, bankers, suppliers and creative contests, etc.), seduce them and convince them to participate in this adventure; it is a communication tool.
To fully appreciate the interest of the BP, it must be understood that beyond the final document that will be presented to partners and juries, it is the creative process that is essential. And this process is concretized by the construction of the BP, which must necessarily take several weeks to “ripen” its original idea.
How to develop it effectively?
Be agile, fast but complete; that is to say, to put in mode “lean start-up”: to quickly confront the reality of the ground thanks to a viable minimum product (model, flyer, brochure, landing page, etc.) while spending the least means, to validate his idea.
Go step by step, with back and forth, to “do not put the cart before the horse! “(Eg consider a communication plan while the business model is not precisely defined).
Always have in mind the value proposition that we are able to make to customers, thinking “use” more than product or service.
Imagine a simple and realistic Business Model (business model) for startup, built on a reliable and comprehensive market research.
Provide tangible evidence (do not leave on unfounded ideas).
Surround yourself with complementary skills.
Ensure consistency between its objectives and the means to be mobilized.
Establish sound financial forecasts for the first years, based on estimates of projected revenue and the means to mobilize (material, human, financial, etc.) to achieve it.
Imagine the future.
How to present the BP document?
Write the Business Model thinking about the customers, that is, the “what’s the point” and not the “how does it work” that does not have to be revealed at this point.
Highlight the Business Model, as well as the competitive advantages of the project.
Using a diagram can help clarify the Business Model and avoid lengthy texts.
The form must be precise, clear, the Business Plan well written and without jargon.
All formulate in 20/30 pages plus annexes.
The standard presentation is formatted as follows:
How to present orally the BP?
Most often, after sending the BP document, and if the project is selected, the creator is brought to present his project and defend it before a jury. This presentation takes place as follows:
The presentation is framed for 15 minutes before answers to questions.
A PowerPoint (or other format) is recommended to help follow the presentation.
A copy of the slides can even be distributed.
The end of the presentation is to ask future partners what is expected of their participation (network, R & D, funding) and the return they can expect.
To prepare for this exercise, 2 tips:
Put yourself in the place of the listener to present what he “must” hear.
To prepare while practicing to the elevator pitch, which is realized in 1, 3 or 5 minutes. It requires conciseness and is a good practice at the 15 minute presentation.
As you can see, a well-constructed Business Plan is a must for your project:
It allows you to gain height on your project to bring it to the future.
It proves its viability at the key stage where you must convince more than ever.
It can be used as the 1st “contract” with your future partners.