Introduction

Question 1

Business plan, why?

Answer 1

To understand & have a well - thought plan, a road map, for your business

Question 2

Business plan, why are you doing this?

Answer 2

Your mission, purpose, core differentiators

Question 3

Business plan, what problem are you solving?

Answer 3

The customers need

Question 4

Business plan, how are your potential customers solving their problem today?

Answer 4

Competition and your added value/unique selling points

Question 5

Business plan, do you think you can make money?

Answer 5

Financial plan

Question 6

Measures to avoid loss

Answer 6

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

Question 7

Building ‘The Business’

Answer 7

Make it profitable: design it, buy materials, make it, finance everything, sell it, deliver it, support it, etc

Question 8

Business strategy

Answer 8

1. Vision: a broad view on the future
2. Mission: a known definition of what the organization is and what it expects to accomplish
3. Goals: Broad aim where you are going
4. Objectives: specific measurable expressions of the goals
5. Strategy: how to achieve it generatlly
6. Tactics: action plan -> operations to execute

Question 9

Business plan difference: existing company expanding v.s. start-up

Answer 9

Good brand/reputation
Risks if you lose
Find finance opportunities
Infrastructure/resources available
Change management
Chamber of Commerce process & obligations due to legal form

Question 10

Legal forms with personal liability

Answer 10

1. Sole proprietor (eenmanszaak)
2. General partnership (VOF)
3. Professional partnership (maatschap)
4. Limited partnership (Commanditaire V)

Question 11

Legal forms with corporate legal obligations

Answer 11

1. Private limited company (BV)
2. Public limited company (NV)
3. Cooperative (Coöperatie)
4. Association (Vereniging)
5. Foundation (Stichting)

Question 12

The total offering

Answer 12

Total value added for a customer:
- Product
- Service
- Image
- Availability
- Quantity
- Fit to customer
- Evaluated price

Question 13

Stakeholders

Answer 13

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!

Question 14

Internal stakeholders

Answer 14

Employees
Manager
Owners
Different departments

Question 15

External stakeholders

Answer 15

Suppliers
Competitors
Society
Government
Creditors
Shareholders
Customers

Question 16

Stakeholders, how?

Answer 16

1. Identify
2. Judge the relevance, power, pro/con you?
3. Determine required involvement based on power/interest
4. Communicate & involve
5. Monitor continuously

Question 17

Target group, STP

Answer 17

Segmenting, Targeting, Positioning
Choose your battlefield and add value!

Question 18

Value proposition

Answer 18

Engineering driven: capability push
Create a customer question
Market customer driven: opportunity pull
fulfill a customer question

Question 19

STP process

Answer 19

Segmentation (market insight), Targeting (SWOT, competition), Positioning (how to differentiate/influence: apply the marketing mix, benchmarking)

Question 20

The target market, assessing

Answer 20

Market size -> Market dynamics -> Market needs -> Willingness to pay -> target market

Question 21

Target group, how?

Answer 21

Measurable, substantial, accessible, differential, actionable

Question 22

Risk management

Answer 22

avoid a mismatch in real life: can you re-develop the offer or better change the customer target group

Question 23

Value map helps to systematically…

Answer 23

understand what customers want
it creates products and services that perfectly match thei needs
or makes it clear there is no fit