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FORMAL EDUCATION WILL MAKE YOU A LIVING. SELF EDUCATION WILL MAKE YOU A FORTUNE

Collection - Stuesdays

Stuesdays is one of our educating publication regarding entrepreneurship. These articles consist of some little-known facts and how-to-do(s) on starting a business. We believe that starting a business is no longer difficult and everyone, anyone can and should know about this knowledge.

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[Business Model as a Part of Fundamental Aspects and How to Start Building it] If you are curious of what a business model is, and why you need it to start and grow your business, then it’s time to dig into the process of an actual writing a business model. There are many ways of building a business, either through business plan or business model canvas. Right now, we’re discussing about rules for writing a business plan: First thing first. Keep it short. Business plan should be short and concise because you want your business plan to be read and no one is going to read a 100 pages or even 40 pages business plan. Second, know your audience. Write your plan by using language that your audience will understand. For example, if your company is developing a complex scientific process, but your prospective investors aren’t scientists, then you need to adapt. Accommodate your investors, and keep your product’s explanations simple and direct, using terms that everyone can understand. And last but not least, don’t be intimidated. The vast majority of business owners and entrepreneurs aren’t business experts. They’re learning as they go and don’t actually have degrees in business. Writing a business plan may seem like a difficult thing, but it doesn’t have to be. If you know your business and the passion behind it, writing a business plan will not be as difficult as you think. You don’t have to start with a detailed business plan. It can be much easier to start with a simple one page business plan or a Lean Plan. Then, come back and build a detailed business plan later. The 8th UI Studentpreneurs #BeyondInnovation

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