Four Building Blocks for a Successful Business Plan

Business planning is becoming an integral part of the startup ecosystem. A well crafted business plan   gives shape to budding ideas, showcases the unique proposition of the business and highlights the fiscal potential that might attract potential investors to fund the project. At times entrepreneurs draft or invest in business plans which are limited to being large sized documents filled with architectural theories, sample ideas, the same old strategies and lots of irrelevant financial calculations. Now we know why 9 out of 10 new ventures or business struggle to survive.

 

A business plan is not just a theoretical constant process of drafting ideas, creating goals and defining the workings of a business, rather it a coherent plan that links all the key elements of the business into a real life and achievable platform. It is this business plan which acts as the guide and audit benchmark for the business.

BPlanExperts, having worked with more than 350 entrepreneurs across 55 countries have identified the key aspects of a robust business plan. Our experience shows that a good business plan should create a framework and highlight four key building blocks; People, Opportunity, Business Model and Flexibility. Continue reading “Four Building Blocks for a Successful Business Plan”

Identify whether you are an Entrepreneur or Wantrepreneur

Motivational quotes, one-liners, videos and stories about entrepreneurship or lunching of a new venture are all across the globe, possibly to ignite fire in the belly of people with aspiration, new thoughts and ideas. In reality, aspiration and determination are not enough to be a successful entrepreneur, it takes a lot more than that.

Coming up with a unique or new idea is a great starting point, the execution of that idea is far more important. This has led to a growing number of “Wantrepreneurs” – people who initially show enthusiasm in identifying and discussing ideas, but at the end of the day fizzle off because they get overwhelmed with the required sustained commitment of executing their ideas.   Continue reading “Identify whether you are an Entrepreneur or Wantrepreneur”

Organic Growth Strategies for Start-ups

Every business should have a specific growth strategy in order to survive, progress and earn revenues. Businesses without growth strategies can be hit by unexpected adversity. A growth strategy can be organic or inorganic in nature. While usually acquisition strategies are undertaken by more mature businesses, investors typically look for organic growth numbers to review and evaluate the overall development of a new company.

Organic growth for a business is a balanced and step-by-step technique created through the utilization of its own resources, leading to a sustainable increase in sales and revenues.  It is also very important for an organization to maintain symmetry between the values created for customers and what employees add to an organization.

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Entrepreneur’s Road Map – Idea to Implementation

There are no shortcuts to success. The entrepreneurial journey is extremely difficult and challenging but if pursued with a plan, it enhances your chances of success. We at BPlanExperts.com help entrepreneurs to approach entrepreneurship with a structured approach.The board game format shown above constructs the start-up journey, with each block denoting a step closer to success. Want to play the entrepreneurship game? Let’s roll the dice.

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Business Plan: A structured approach

A majority of entrepreneurs accept the need for creating a business plan however, a few often fail to realize that an effective and comprehensive business plan can lay down a road map to success for their businesses.

While a professionally crafted business plans does not guarantee success, for entrepreneurs with great business ideas, it certainly increases the probability of them crossing the finishing line sensationally.

Often a business plan is used as a sales document with an aim to impress an investor, rather than provide an extensive strategic and operational road map of the venture. This often fails to achieve the desired results, leading to entrepreneurs blaming the vehicle i.e. the usefulness of a business plan rather than the quality of goods being transported, i.e. the content included in the document. A business plan needs to capture the essence of a business and its delivery mechanism to attract investments.

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