The Dynamic Business Plan

A business plan is a description of the business you want to start. It is also
a plan for how you intend to run and develop it. After making a business
plan you will have great knowledge of the business world. The world in
which your future lies.

The business plan gathers all the bits and pieces from the business
preparations and your general life experience of relevance to your
business. It contributes to a more well-arranged start-up – beneficial to the
entrepreneur, his/her family, personal network, consultants, and sources of
finance.

You should not see the business plan as the final statement for your
business. More like a platform from where you gain access to the business
world. It is a dynamic world so your plans for your business must be
dynamic too.

Working out a business plan serves many purposes:

• Help structure and realise your visions
• Gather knowledge and compelling information
• Facilitate a framework for better business decisions
• Convince family, banks and other investors that you are worth an
investment
• Proof of dedication
• Base for better counselling from cooperators and sparring partners

When the business plan is written it will describe the following issues:

Business Concept
A good idea is only a good business idea if you are able to make enough
money from it for you to live independently.
Once you have got an idea, in most cases it needs adjusting and further
development before it turns into a commercial concept.

Personal Resources and Objectives
Running a newly established company is a very personal thing as its owner
is typically the only one present in the company. Therefore, it is important to
emphasise to yourself and others alike that you do possess the capacity
and resources necessary to run a business.

Product/Service
The product or service you offer is the lifeblood of your business. Thus, it is
important to analyse its various aspects. Special attention should be paid to
what the customers demand from the product or service.



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