Modeling and Planning
The Modeling and Planning stage assists to prepare analyse and structure the business plan. This is the stage to design a set of strategies that will contribute to the internal operations and success of a start-up.
The milestones used to draft the plan provide a reference to the participants’ external environment. It is also important that people develop an effective internal structure. Investors for example, will be looking forward to verify the participants’ understanding of the market they intend to service.
In this phase the focus is on drafting the model that the entrepreneur find more adequate for making a business out of her/his idea and also to identify the strategies that will lead towards the meeting of these targets referring to organizational, market and production issues. Having a clear picture of what people will do, when, with whom, with what and how to do things, participants can also determine the best opportunities to obtain the necessary financing and other resources.
The main objectives include understanding the fundamental business modeling considerations, identifying opportunities around to develop robust, feasible business strategies and preparing to write the business plan.
A SMART Activity