Sunday, December 20, 2015

The nine step business plan | Entrepreneur

Læs den danske version her: Forretningsplanen med de ni blokke.

I have myself been in the situation where I had to write a 20 page business plan otherwise my bank wouldn't open a business account for me. So I had to use my vacation from school on writing a 20 pages long business plan.

I got my bank account but the thing is, as soon as the bank account was opened there were already changes in my business plan. So it went straight into the trash. - I didn't want to waste my time on writing a new one thinking I knew exactly what I was going to do with my company, so I left it alone and focused on getting my online store ready for sales.

Using the Business model Canvas
Business Model Canvas
I don't remember exactly when but I guess it was the next semester, one of my professors told me to check out a model called Business model Canvas. At first I was very hesitant because he is my economics professor and for me economics is an important subject but it's differently not my strong suit. So I kind of though that the model would be like economics.

It is not. Trust me.

The model Business Canvas is a great tool to get a good picture of how the company's different processes work together. It can be used as a goal, as the company is now and for the different ideas that the company chooses to evaluate or carry out.

It is divided up in nine different blocks and is easy for the different departments to understand the whole picture and so to say, speak the same language.

Down under you can watch the short two minutes video about how to use the model.


The Business model Canvas is developed by Alexander Osterwalder, who has managed to simplify a very complicated process. He has also lead authored the best sellers: Business model Canvas and Value proposition Design. Both books gives you the opportunity to take your business to the next level. 

Using it
As explained in the video it is quite simple but using it and understanding it, has been a great progress in understanding and developing my own business. When you really get into it, you will be amazed how much you can actually learn from it.

Check it out before it's too late.

- Hafsa

P.S. If you don't want daily updates from my entrepreneurial journey, then don't follow me on my new Faceebook-page Entrepreneur: Hafsa Farooq.

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