Every idea has already been made
What belongs in the business plan chapter business idea?
Your business idea is the core of your business plan. If you have successfully started with the executive summary, the summary of your business plan, your business idea will be put through its paces by the reader in this chapter. All relevant information that is necessary to convey your idea convincingly and to illustrate the added value must find its place in this chapter.
In the following we have summarized which information this is and which should not be missing in this business plan chapter:
1. The business idea
In this section, describe the core of your business idea in a few sentences. Concentrate on the essentials. What is the purpose of your self-employment and when is the start-up planned for?
tip: This content forms the basis for the presentation of your business idea in the executive summary and is the basis for the entire business plan. The following content, the detailed product and service description, is based on this.
2. The product or service
Now go into the details. Describe the offer for your target groups. Depending on whether your business idea is based on a product or a service, different information is relevant. But always remember that the reader is usually not an expert. Stick to language that is easy to understand.
Is your business idea a product? Then introduce your product and start with the most important product features. But don't get lost in technical or scientific details. Avoid technical terms as much as possible.
Are there also different product categories planned? Then briefly go into the differences here and give an overview of the variety of products. In many cases, suitable images can also help to visualize your business idea.
In addition to the actual business idea, the reader of your business plan will be primarily interested in the underlying business model. How do you earn your money, how are sales generated? Address the costs associated with the idea. Describe roughly the cost structure and state the price that you set for your product / service.
3. Unique selling point and customer benefit
Do not get lost in general formulations. You have presented your product / service. In this section, focus on what is special about your business idea. What makes your offer unique? Where do you stand out from the offers of the competitors? What makes you competitive and what is the competitive advantage of your idea? What are the benefits for your customer?
Not every business idea brings an innovation. The unique selling point does not inevitably have to be found in an unprecedented product property. A business idea can also stand out through special packaging, creative design or a unique service.
The competitive advantage plays a major role for the reader. Did you highlight it clearly and understandably? Then don't forget to explain how you can keep this up against the competition or how you want to protect the idea.
4. Property Rights, Patents and Permits
In this section, your business idea is examined from a legal perspective. If your business idea is worth protecting, appropriate patent applications or trademark rights should be attached.
It is similar with the legal framework and permits. In some cases, start-up projects are linked to compliance with regulations or required permits, such as TÜV certificates, liquor licenses for restaurants or bars, health certificates or the like.
If this is the case, this information will find its place here. If appropriate precautions are necessary for your business idea, you will be asked questions sooner or later. Be prepared and prove your entrepreneurial skills here.
In the case of new developments, additional information on the current state of development, the patent situation and any necessary licenses are included in the business plan.
5. The vision and your goals
While the business idea often viewed the start-up project from a short-term perspective, the vision is about the long-term view of your start-up project.
In this chapter, you will briefly describe your drive for setting up a business. The vision can rarely be substantiated with concrete figures or data. Describe your motivation for self-employment as an entrepreneur.
If you go into your company goals, you will become more specific. Where do you see your company in the next three years? Which milestones should be achieved during this period.
6. The service and the additional benefit
The description of the business idea does not end with the presentation of your products or your service. Address the additional benefits of your project. What role does service, guarantees or maintenance play? Often it is only here that the unique selling proposition of the business idea becomes clear.
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