Introduction Flashcards
Business plan, why?
To understand & have a well - thought plan, a road map, for your business
Business plan, why are you doing this?
Your mission, purpose, core differentiators
Business plan, what problem are you solving?
The customers need
Business plan, how are your potential customers solving their problem today?
Competition and your added value/unique selling points
Business plan, do you think you can make money?
Financial plan
Measures to avoid loss
1) To avoid it to occur: more research, ask experts, get 1st customer
2) To limit the consequences: find partners, prepayment, lower investment, change business type
Building ‘The Business’
Make it profitable: design it, buy materials, make it, finance everything, sell it, deliver it, support it, etc
Business strategy
- Vision: a broad view on the future
- Mission: a known definition of what the organization is and what it expects to accomplish
- Goals: Broad aim where you are going
- Objectives: specific measurable expressions of the goals
- Strategy: how to achieve it generatlly
- Tactics: action plan -> operations to execute
Business plan difference: existing company expanding v.s. start-up
Good brand/reputation
Risks if you lose
Find finance opportunities
Infrastructure/resources available
Change management
Chamber of Commerce process & obligations due to legal form
Legal forms with personal liability
- Sole proprietor (eenmanszaak)
- General partnership (VOF)
- Professional partnership (maatschap)
- Limited partnership (Commanditaire V)
Legal forms with corporate legal obligations
- Private limited company (BV)
- Public limited company (NV)
- Cooperative (Coöperatie)
- Association (Vereniging)
- Foundation (Stichting)
The total offering
Total value added for a customer:
- Product
- Service
- Image
- Availability
- Quantity
- Fit to customer
- Evaluated price
Stakeholders
A person, group of people or organization that has interest or concern in your project. Stakeholders can affect or be affected by your actions, objectives. Communicate with the right person!
Internal stakeholders
Employees
Manager
Owners
Different departments
External stakeholders
Suppliers
Competitors
Society
Government
Creditors
Shareholders
Customers
Stakeholders, how?
- Identify
- Judge the relevance, power, pro/con you?
- Determine required involvement based on power/interest
- Communicate & involve
- Monitor continuously
Target group, STP
Segmenting, Targeting, Positioning
Choose your battlefield and add value!
Value proposition
Engineering driven: capability push
Create a customer question
Market customer driven: opportunity pull
fulfill a customer question
STP process
Segmentation (market insight), Targeting (SWOT, competition), Positioning (how to differentiate/influence: apply the marketing mix, benchmarking)
The target market, assessing
Market size -> Market dynamics -> Market needs -> Willingness to pay -> target market
Target group, how?
Measurable, substantial, accessible, differential, actionable
Risk management
avoid a mismatch in real life: can you re-develop the offer or better change the customer target group
Value map helps to systematically…
understand what customers want
it creates products and services that perfectly match thei needs
or makes it clear there is no fit
