A business plan is a tool that lets you organize your business idea and determine the key elements you need to turn it into a successful business.

 

A business plan can be required by credit insitutions and investors in order to prove that your business will be profitable and allow you to get funding.

 

Here are some fundamental elements you should always include:

 

Activity

You start by describing what you are going to do and how. Specifically:

The nature of the activity – It can be the production of goods, the trade of goods or the provision of services.

The offered products or services – They might have specific characteristics like the materials/technique used or a demographic group for which they are intended.

The required resources – Equipment, staff, workplace, raw materials.

 

Geographic market

You choose the specific area where you want to get involved in the provision of your products or services. It can be a city, a region or even a whole country.

Here are some things to consider:

Make sure that there is enough demand for what you offer.
The vaster the area, the more resources required.

 

Funding

You will need some capital to start the business and run it before it generates revenue. There are three main options:

Personal funds – This is ideal if you have a lot of savings or if the business doesn’t require a big starting capital.

Bank loan – It allows you to get higher capital but you will need to provide some securities, like a property or investments.

Microfinance – This is great for businesses who need up to €25k since you don’t need to provide securities.

 

Action Plan

How are you going to successfully enter the market and beat the competition?

This is a crucial step in your business survival and success in today’s increasingly competitive market. We at Visual Destination help your business stand out through strategy, brand identity development and promotion.

We start by putting together an action plan based on the previous key elements that we invite you to input in our dedicated page:

 

We will help you efficiently integrate the action plan into your business plan so you can confidently start your business or seek funding.

 

Depending on the purpose of the plan, some other things might be required, like:

Market analysis
SWOT analysis
Financial projections

 

We are at your disposal if you need help with the creation of your business plan!

 

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