{"id":60,"date":"2015-05-06T10:58:39","date_gmt":"2015-05-06T09:58:39","guid":{"rendered":"http:\/\/www.utelier.com\/blog\/?post_type=toolkit&p=38"},"modified":"2019-07-15T12:35:12","modified_gmt":"2019-07-15T11:35:12","slug":"business-plan-startup","status":"publish","type":"post","link":"https:\/\/fashioninsiders.co\/toolkit\/business-basics\/business-plan-startup\/","title":{"rendered":"Business Planning for Success"},"content":{"rendered":"
If you are a creative anywhere, but particularly in the fashion industry and the thought of writing a Business Plan sends chills down your spine, please rest assured that you are not alone. And you will be right to say that they take too long to write, you don\u2019t know the answer to many questions, and no one reads them once they are written etc. But not having one and not undertaking any proper business planning is not a good place to be either.<\/p>\n
Success is rarely accidental. Most successful businesses may have had some element of luck along the way but mostly they planned for it \u2013 one way or another.<\/p>\n
Like houses, you cannot build a business without a plan. Properly constructed business plans are the equivalent to architectural blueprints. They are important documents to have and refer to on the way of achieving your vision. But they are also rigid and not so easily digestible, especially at the start of a new business. The financial projections required at this point are akin to fantasy football. They mean nothing as they are not based on facts and proven and tested products, ideas or business models. And in today\u2019s fast-paced and fast changing world \u2013 how can anyone project what the revenue might be in three to five years?<\/p>\n
Luckily, as with building houses – before you invest time and money into a \u2018proper\u2019 blueprint \u2013 everyone starts with an idea and a sketch, which is tweaked and amended until you arrive at the perfect plan, and every detail is clear and there are no unknowns. The equivalent to this in business is a well-documented starting point and a systematic process for going from your ‘Plan A’ to a plan that works, before running out of resources and before investing time in writing a presentable and professional business plan.<\/p>\n
This is where the one-page business model comes in. A concept, widely known or referred to as Business Canvas<\/a>, championed by a book The Lean Start-Up<\/a> by Eric Ries, which in turn created a movement.
\nMuch of the information that one plot on this one-pager is the same as what is found in a traditional business plan.
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