Q&A - What are the benefits of business planning to a start-up?

The main reasons why a start-up should produce a business plan are:

• Provides a focus on the business idea - is it really a good one, and why?
• Producing a document helps clarify thoughts and identify gaps in information
• The plan provides a logical structure to thinking about the business
• It encourages the entrepreneur to focus on what the business is really about and how customers and finance-providers can be convinced
• It helps test the financial viability of the idea - can the business achieve the required level of profitability
• The plan provides something which can be used to measure actual performance
• A business plan is essential to raising finance from outside providers - particular investors and banks

BUSS4 - a clash of culture and a failed takeover [24 May 2012]
Revision Presentation - Measuring and Increasing Profit [17 May 2012]
Revision Presentation - Using Budgets [17 May 2012]
Revision Presentation - Calculating and Measuring Profit [13 May 2012]
Revision Presentation - Corporate Planning and Strategy [4 Apr 2012]
Simple solutions to everyday problems - Spanx [11 Mar 2012]
Characteristics of an entrepreneur - Fil Adams-Mercer [13 Dec 2011]
The Rise and Fall and Rise of Gerald Ratner [27 Nov 2011]
Cut price cup cake deal goes wrong…... [22 Nov 2011]
How we made our millions: Michelle Mone and Richard Reed under the spotlight [10 Nov 2011]
Unilever hit by rising costs [6 Nov 2011]
Banana Smoothies & Interest Rates [5 Nov 2011]
Lets Teach Kids to be Entrepreneurs [3 Nov 2011]
How PepsiCo are trying to control diseconomies of scale [18 Oct 2011]
Applying for a Franchise [6 Oct 2011]
Profits dive and put pressure on liquidity - the Distress Monitor [29 Sep 2011]
Revision Presentation - Risks and Rewards to Enterprise [7 Sep 2011]
Revision Presentation - Adding Value [7 Sep 2011]
Revision Presentation - Objectives of New Businesses [6 Sep 2011]
Revision Presentation - Enterprise Skills [6 Sep 2011]
The puzzle of rising profits [5 Sep 2011]
Insights from an Entrepreneur - Lara Morgan (Pacific Direct) [5 Sep 2011]
Debunking the myths of entrepreneurs and startups - a must read [28 Aug 2011]
Entrepreneurs and Calculated Risks [25 Aug 2011]
Tim Harford on why it its good for new businesses to fail [16 Jul 2011]
Partners in profit - the JLP way [10 Mar 2011]
Introducing a new kind of business organisation - the benefit corporation [17 Feb 2011]
CSR - What is “Creating Shared Value”? [16 Feb 2011]
Michael Porter - Shared Value and the Limitations of CSR [15 Feb 2011]
CSR - The Classic Milton Friedman Clip [5 Feb 2011]
The Year of Corporate Philanthropy [31 Jan 2011]
Insights from an Entrepreneur - Kirsty Henshaw (Worthenshaws) [8 Jan 2011]
Q&A - What is “profit quality”? [7 Jan 2011]
From crisps to vodka - a profile of a down-to-earth entrepreneur [7 Jan 2011]
Introducing the “austerity” entrepreneurs [4 Jan 2011]
Bangers for Cash - Giveacar and Social Enterprise [4 Jan 2011]
Celebrating the Everyday Entrepreneurs [29 Dec 2010]
BUSS1 Revision Quiz - Sources of Finance for a Startup [13 Dec 2010]
Advent business (1) - shortages [1 Dec 2010]
Video case study - enterprise at the sharp end [27 Nov 2010]
Dominos Pizza - Growth & Strategy (Part 3) - Smart Marketing [26 Nov 2010]
Dominos Pizza - Growth & Strategy (Part 2) - Innovation, Service and Smart Operations [26 Nov 2010]
Dominos Pizza - Growth & Strategy (Part 1) - Driving Competitive Advantage [26 Nov 2010]
Cash flow Clue-doh! The Mystery is Revealed… [2 Nov 2010]
Start-ups - a surge in new businesses post recession [2 Nov 2010]
Profits up at Amazon - but so are costs [22 Oct 2010]
Hilary Devey - Profile of an Inspirational Entrepreneur [22 Oct 2010]
Google, Profits and Diversification [16 Oct 2010]
How to start a toy shop [12 Oct 2010]
Insights from an Entrepreneur - Laura Tenison (JoJo Maman Bebe) [11 Oct 2010]
Insights from an Entrepreneur - Fraser Doherty (SuperJam) [10 Oct 2010]
Insights from an Entrepreneur - Will King (CEO King of Shaves) [10 Oct 2010]
Business structure in the UK - the rise of micro companies [21 Sep 2010]
Why we should encourage our students to start a business at university [1 Sep 2010]
Lesson Worksheet - Adding Value [10 Aug 2010]
Lesson Worksheet - Enterprise & Entrepreneurs [9 Aug 2010]
Lesson Worksheet - Gross Profit Basics [5 Aug 2010]
Essential business reading for the summer! [5 Aug 2010]
Tesco’s insights into customer loyalty [12 Jul 2010]
Entrepreneurs LIVE! 2010 - THE Enterprise Event for Students in 2010 [1 Jul 2010]
New BBC Resource: Start Up Stories [25 Jun 2010]
Is the mega-merger falling out of fashion? [7 Jun 2010]
BUSS4 - Recession Strategy Lessons from Four Female Entrepreneurs [6 Jun 2010]
Rajeeb Dey to Speak at the 2010 Business Teacher National Conference [3 Jun 2010]
British vodka beats the world! [19 May 2010]
Airlines founder plans a shareholder revolt [16 May 2010]
Profit seeking paradoxes in an oblique world [15 May 2010]
25 Ways to Get The Startup Right [22 Apr 2010]
How to make a million before lunch! [12 Apr 2010]
Recession Survival Strategies Cost UK SMEs £16bn [31 Mar 2010]
Entrepreneurial success - Cath Kidston bucks the recession [25 Feb 2010]
The 40 Schoolboy Errors Made by Startups [6 Feb 2010]
Revision Presentation - Profit and Cash [30 Jan 2010]
Revision Presentation - Improving Profit [30 Jan 2010]
Product, pricing and profitability in a changing market [20 Jan 2010]
OECD stats on entrepreneurship [11 Jan 2010]
Revision Quiz - Profitability & ROCE [6 Jan 2010]
Revision Presentation - the Basics of Profit [30 Dec 2009]
Some good reasons why startup business plans are a waste of time [17 Dec 2009]
Outdoor Ice-skating heads firmly down the product life cycle [3 Dec 2009]
Advertising Coming To A Windows 7 Desktop Near You [18 Nov 2009]
Innocent Drinks - Teaching Accounts Exercise [9 Nov 2009]
School for Santas [7 Nov 2009]
Entrepreneur takes advantage of the postal strike [24 Oct 2009]
4 minutes with Stelios - insights into entrepreneurship [24 Oct 2009]
The Decline of Newspapers Creates a Surge in Local Startups [4 Oct 2009]
V-Water - from start up to exit [4 Oct 2009]
Meet the Young Entrepreneur of the Year 2009 [30 Sep 2009]
Emma Jones to speak at the Business Teacher National Conference 2010 [30 Sep 2009]
The dramatic slump in advertising revenue continues [18 Sep 2009]
Born in the Storm - 4 Start-ups One Year On [16 Sep 2009]
Todd Stitzer’s Strategic Test [14 Sep 2009]
Is a recession the perfect time to launch a technology start-up? [14 Sep 2009]
Icing on the cake for entrepreneurs [13 Sep 2009]
Patent Theft threatens enterprising inventors [3 Sep 2009]
Third Age Entrepreneurs drive start-up successes [1 Sep 2009]
Video case study: battling for survival in the restaurant trade [31 Aug 2009]
AQA AS - Unit 1 - Starting a business - The BMX Box [28 Aug 2009]
Banks lend more and charge more at the same time [3 Aug 2009]
Pay-as-you-go holiday spending money [18 Jul 2009]

BUSINESS TEACHER RESOURCE NEWSLETTER
Get first news of business teaching resources, ideas and other materials from tutor2u. Over 9,400 business teachers from the UK and around the world receive our regular teacher email newsletters. Sign up for free here!