What is a Business Plan and is it important?

Get started with peace of mind thanks to our offer: Business Plan

END OF HEALTH RESTRICTIONS, PLACE FOR THE BUSINESS PLAN

The deconfinement calendar was publicly released at the end of May 2021.

According to the official document, almost all health restrictions should disappear by the end of June .

Enough to relaunch and create projects that have been on stand-by since the start of confinement.

More generally, we have shown in our article [4 steps to create your business in 2021] that 2021 was a year when it was quite possible to perform by creating your company.

Thus, we can hope for an economic recovery that will be accompanied by the creation of new projects .

However, going headlong without a clear objective and strategy can often be counterproductive .

That’s the whole point of a Business Plan .

How to launch your business in the best conditions?

What is a Business Plan and is it important?

What is a Business Plan?

A business plan is an official document in which your objectives and development strategy are set out.

It is in a way the transition from idea to reality , to the concrete creation of the project. A Business Plan allows you to launch your business in good conditions but also to be granted financial contributions more easily.

A business plan answers a number of questions :

Is there a demand for my product, service? What will my strategy be? How will my business be structured ? How do I formulate my operational plan ? What is the amount of my investment ? What type of cost will I face? What is the expected return on investment (ROI)? How soon ?

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What is a Business Plan and is it important?

What’s the point ?

A business plan is essential , it is the key to achieving balanced growth while limiting risks as much as possible. It is clear that entrepreneurs who launch their project with a business plan succeed on average more than those who do without. Indeed, the 3-year sustainability rate of companies that have been designed from a Business Plan is over 80% . Choosing this support means: Knowing your market : it is important to know if there is a demand for the product or service you want to market. Being aware of the trends of the market in which you wish to establish yourself is also necessary ( technological innovations, competitor strategy , etc.)

  • Lay the foundations of the organization : a Business Plan requires you to know who will be the team on the project , what will be the business model of the company but also its legal status . All these elements allow for a clearly defined and thus more efficient organization.
  • Ensure the financial viability of the project : by defining your future turnover and your future costs, you will have a more or less precise idea of the financial relevance of the project .
  • Attract future partners and have easier access to financial contributions : in addition to showing that the target market is relevant and that your project is financially viable, the Business Plan will demonstrate your motivation to see this project come to fruition . These elements will encourage future partners to accompany you as well as financial institutions.
  • Compare the achievements to the forecasts : having the role of roadmap, the Business Plan allows you to follow the evolution of your project and to redirect the actions if necessary.
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ESCadrille revisits its Business Plan offer!

Aware that many entrepreneurs would potentially launch their activity in the coming months, ESCadrille decided to give a second wind to its Business Plan service.

Our goal : to support our customers as well as possible by perfectly meeting their needs and expectations thanks to Business Plans directly carried out by Masters in double diploma DSCG (higher diploma in accounting and management) .

And because we want to propel your success , we select the best elements of the DSCG program offered by our business school, TBS EDUCATION to build your relationships.

Thus, our service goes further than a simple Business Plan. We present more financial ratios and we also create a data visualization report on powerBI where we can see the forecast financial tables as well as the ratios. This report will allow you to support your oral defenses and to be able to directly answer investors’ questions by browsing through it.

Finally, we suggest that you carry out an oral defense ourselves with the investor in order to answer these questions and bring more credibility to the report.

So if you want to start your business in the best conditions , do not hesitate to call ESCadrille Toulouse Junior Conseil. This team of close-knit, dynamic and committed young people will know how to help you develop your project .

Article written by MAXENCE RIVOIRE, mandate 2021.