If you are going to run a business yourself, with others or as a self-employed person without employees, it is advisable to draw up a business plan. You describe herein what you want to do with your enterprise exactly and where you will get the funding.
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The purpose of writing a business plan
A business plan helps you to analyse your ideas for an enterprise on a business-like and creative level. It forces you to think like an ‘entrepreneur’ and to develop a revenue model and a long-term strategy. You can also use this plan if you enter into discussions with potential clients and investors/financial backers.
Write the basis of the plan yourself, possibly with a partner, so that the plan is infused with the necessary inspiration and urgency. You can involve external advisers for legal, financial or tax advice, for example.
Which questions does a business plan answer?
A business plan does not have a fixed layout or content, but the readers of your plan will often, however, have the same questions. In order to be able to assess the level of realism of your answers, an outsider wants as many facts as possible, clearly structured, on paper. As a result of this, the strengths and weaknesses of your plan will be visible. This may involve the following subjects and questions:
- Plan: Which service or which product would you like to provide? What is so special or unique about it and who is your target group?
- Market: How large is the market in which you are going to operate? What kinds of products or companies are you going to be competing with? What kind of clients/buyers are they? What kind of contact do you have with them?
- You: Describe your education, work experience and motivation. Why do you want to start this enterprise?
- Company: What will the company be called, where do you want to set it up, what will the type of enterprise be and who will be involved? What do you need in terms of space, items and insurance?
- Financing: What costs will you incur structurally? How much will you need to invest in advance? How do you think that you will finance that? How much turnover and profit do you expect to make?
Write a business plan
There are various ways to make a business plan or to identify a revenue model. Busi*ness Model Canvas is the most frequently used method in the arts and cultural sector. The Busine*ss Model Canvas included nine building blocks that help you to visualise your plans. You can also easily use this method for a project.