Business plan

Also known as: Business concept, business plan, corporate concept

The term business plan is understood to be a 10 to 50 page long concept paper that presents the prospects of success and the profitability of a planned project or company. A business plan can help convince banks or investors of a planned project.

Definition / explanation

A business plan is a written document that deals with the profitability and the chances of success of a project or the establishment of a company.

Der Businessplan oder Geschäftsplan besteht aus mehreren Bestandteilen, welche die verschiedene Aspekte der geplanten Unternehmung beleuchten. Der Businessplan beinhaltet unter anderem eine Zusammenfassung der wichtigsten Eckpfeiler des Vorhabens (Executive Summary), eine detaillierte Vorstellung der Geschäftsidee, Angaben zu allgemeinen Marktsituation, sowie Details zur Financial planning oder zu Marketing and Sales.

Use and application

The basic benefit of a business plan is to convince other people, companies or institutions of your own project. In most cases, the business plan should also be used to raise funds in the form of loans, research or funding.

A business plan serves different purposes and is addressed to different addressees. It can be used in the case of a planned start-up, a company takeover, a planned introduction of a new product or a reorientation of a company.

Development of a business plan

A business plan consists of the following parts:

  • Executive summary (brief summary of the overall concept)
  • Product idea or company idea
  • Presentation of the team
  • the general competitive situation
  • the Marketing strategies
  • the Corporate form
  • Financial planning and a risk assessment

However, the exact order of a business plan is not clearly defined, so that it can vary in individual cases.

Summary

  • A business plan is a concept paper that illuminates the profitability and the prospects of success of a project
  • is used, among other things, to raise funds or introduce a new product
  • Starting a new company is not the only area of application of the business plan
  • the structure of a business plan can vary
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