Most entrepreneurship courses require students to submit a business plan along with a financial model. We can assist you if you need to do a business plan and financial model for your entrepreneurship course or for your new business venture. Do contact us if we can assist you in creating a well thought out and through business plan.
If you have ever asked yourself the question “How can I start a business?”, here is your answer: Start by writing a business plan.
Planning is important in any endeavor, but more so in business. Business plans are important whether you are a start-up or an established century-old business.
How does writing a business plan help entrepreneurs? Writing a business plan helps entrepreneurs in multiple ways. A few ways in which business plans help an entrepreneur are:
- Clarify the business concept and business model: Writing a business plan will help entrepreneurs figure out what really drives their business. Business plans help an entrepreneur crystallize what the business model is. How does the entrepreneur hope to make money? What are the products and services that he or she needs to sell?
- Evaluate the cost of providing the product or service: Writing a business plan will help entrepreneurs get a good estimate of the various costs involved in starting a business. A business plan will assist the entrepreneur in understanding what it costs to provide a service or product.
- Evaluate potential revenues and profits: Writing a business plan will help entrepreneurs figure out what the potential revenues are and its associated costs. A business plan will assist the entrepreneur in figuring out what revenues are needed to break even, make profits etc.
- Evaluate funding requirements and timing: Writing a business plan will assist the entrepreneur in understanding the funding requirements at various points in time. This is critical as many businesses fail only because they are unable to manage cash flow.
It is clear that writing a business plan is an important step in the process of starting a business. Graudate Tutor provides tutoring services in a variety of topics to business school students and working executives. Our tutors are typically CPAs, CFAs and/or MBAs themselves and have the required expertise to assist you in writing your business plan. We can assist you if you need to do a business plan for your entrepreneurship course or for your new business venture. Do contact us if we can assist you in creating a well thought out and through business plan.
Business Models or Financial Models
Business models, often called financial models, are spreadsheets that show how the financials of the business plan will pay out. It will list out the cash inflows and outflows by period and model the resultant financial statements including balance sheets, income statements and cash flow statements. There are many types of business models including but not limited to the operating models, three statement models, valuation models, etc. Our CPA, CFA and/or MBA tutors can assist you in building your business or financial models. Do contact us if we can assist you in creating a well thought out and through business plan.