Business Plan Development
Every business plan should clearly respond the 7MQ…the seven minimum questions:
- What is the problem/need your business idea is going to solve?
- How are you going to do it?
- How are you going to create (monetisable) value out of this idea?
- What is the market you are targeting? (and…what’s its size, who they are, what do they do…)
- What is your business model?
- In which industry are you competing? (and…who is already playing in this industry?).
- What do you need to start creating revenue?
The majority of entrepreneurs, however, need far more than an answer for these business questions. In order to make a coherent proposal, a number of personal points should also be clear. Among others: How does this business idea fit with you?; How does your expertise contribute to your venture?; What are your entrepreneurial skills?; What are your (not financial) assets?; How are you going to manage the resources you have? (and…the ones you might receive?).
I know, drafting a viable business may be overwhelming. I can help you in different ways:
- Validating the opportunity you have identified and developing a feasible business model.
- Guiding the way you conduct your market and industry research.
- Defining milestones and relevant project-management steps, both to develop your plan and to implement it.
- Customising your plan. Searching for what is known as the “investor fit”.
- Identifying your entrepreneurial skills and key personal resources to make a coherent proposal.
- Double-checking your document against the BPAC – Business Plan Assessment Criteria. A group of 47 criteria that covers every aspect to take into account for a solid business plan. I have developed and validated the BPAC with entrepreneurs, investors and academics.
- Tracking your progress during the early-stage implementation.
All in all, the goal is to develop a viable business plan, with sound answers to the 7MQ, and equipped with a coherent personal approach that makes your entire proposal convincing.