Writing a Business Plan
Every successful business has a plan which explains how it will operate. A good strategy can provide the necessary elements for achieving profits and being able to grow your business. Let’s find out what you need to create a business plan.
Warm up
Learn
There are five stages to go through to successfully compile the main parts of a business plan.
Go step by step and take notes on all the basics you need to know about your future business endeavour.
Dive in 1
Please read the presentation.
OR…
If you feel confident enough to come up with a business idea, then you can start from Step 2 (page 8).
After defining your business, take 10 minutes to complete “The Market”. How large do you think your potential clientele may be?
Tip: You can use one of the ideas you have created with your buddy in the first learning unit in this competence!
Dive in 2
Refocus on the presentation on Step 4 “Distribution and communication”, then:
Have a short discussion with your buddy on Step 4. How will you distribute your products/services to your customers? How will you communicate with them?
Create
Pick up your colouring pens or open a drawing application and try to create a logo for your new business!
Think of the colours, text, images you will use…
Test your logo with other buddy teams: can they guess what your business will be offering? It can come in handy to see what your target audience is thinking.
Reflect
Check some local shops that both you and your buddy know of.
What elements do you believe their business plan includes? Do you believe they have done the work? Compare examples across businesses that you are all aware of.
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