Start-ups & the importance of business planning

Thanks to Tim Mason for the “heads-up” on a superb new resource.  A new five-week series in the Sunday Times enterprise section looks like it will be essential reading for Business teachers and students.  The series kicks off with an article showcasing the role of business planning and market research in a series of start-ups…

This series really does look useful for AQA AS Business Unit 1, Edexcel AS Business Unit 1, and even the new AQA GCSE Unit 1 being taught from Sept 09.

The first article focuses on business planning.

We look at many of these issues in our CPD workshops for AQA Unit 1.  Some great business studies content in the article, including:

Having a detailed business plan is one thing; but executing it is another.  A`plan is all about action.

90% of new businesses fail within three years (note - the failure rate for new franchise outlets is much less than that)

The important thing is to establish whether there is a market in the gap, not whether there is a gap in the market.

In a market where profit margins are tight, it is essential to get a strong grasp of product costings.

The amount of planning required depends on the kind of start-up.  It is also linked to the amount of investment being put in.  Larger, more complex start-ups require more detailed business plans.

Revision Presentation - Marketing Mix: Introduction to Products & Brands [17 May 2012]
Revision Presentation - Measuring and Increasing Profit [17 May 2012]
Revision Presentation - Calculating and Measuring Profit [13 May 2012]
Revision Presentation - the Startup Cash Flow Forecast [13 May 2012]
Revision Quiz - Sources of Finance for a Startup [12 May 2012]
Revision Quiz - Franchising [12 May 2012]
Revision Quiz - Cash Flow Forecasting for a Startup [12 May 2012]
AQA AS Business (BUSS2) - Key Term A to Z Glossary [30 Apr 2012]
Enterprise, Location and Culture - Inside the new Google Campus in London [14 Apr 2012]
Revision Presentation - Mission, Aims, Objectives and Stakeholders [7 Apr 2012]
UK manufacturing - GlaxoSmithKline invests in 1,000 new jobs [22 Mar 2012]
Simple solutions to everyday problems - Spanx [11 Mar 2012]
Start-ups - the Wooden Smartphone? [4 Mar 2012]
Lesson video : Franchising for beginners [4 Mar 2012]
The history of Apple’s product innovation - in 30 seconds [10 Feb 2012]
Buying-in to the Facebook culture [5 Feb 2012]
Crazy Frog-Great example of a targeted marketing mix? [28 Jan 2012]
Growth strategy - Starbucks eyes the franchise model [28 Jan 2012]
Investment in People - Google and Human Capital [26 Dec 2011]
Edexcel closes the gap on AQA for GCSE Business as BTEC First powers ahead [18 Dec 2011]
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]
Unilever hit by rising costs [6 Nov 2011]
How PepsiCo are trying to control diseconomies of scale [18 Oct 2011]
EntrepreneursLIVE! 2011 - Speaker Line-Up [17 Oct 2011]
Revision Quiz - Startups and Understanding the Market [16 Oct 2011]
Revision Quiz - Market Research for a Business Startup [13 Oct 2011]
Revision Quiz - Locating the Startup Business [12 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]
Revision Presentation - What is a Business? [6 Sep 2011]
The puzzle of rising profits [5 Sep 2011]
Insights from an Entrepreneur - Lara Morgan (Pacific Direct) [5 Sep 2011]
Luke Johnson on sources of finance for a startup [29 Aug 2011]
Debunking the myths of entrepreneurs and startups - a must read [28 Aug 2011]
Spotify - Five Years to Break-even [28 Aug 2011]
Entrepreneurs and Calculated Risks [25 Aug 2011]
Taking Italian to the Chinese - Pizza Express Expansion Strategy [24 Aug 2011]
BUSS2 May 2011 - Ofqual assurance on exam results [8 Aug 2011]
Tim Harford on why it its good for new businesses to fail [16 Jul 2011]
Retrenchment for Thorntons following strategic review [28 Jun 2011]
Business investment: the UK corporate cash pile [15 Jun 2011]
The scandal of AQA BUSS2 - Update again, a response from AQA [9 Jun 2011]
What makes Ferguson great? [27 May 2011]
Changing demand in the market for live music [16 May 2011]
Jaguar goes for NPD investment with £5bn plan [10 May 2011]
Your suggestions for new Business Studies resources & training [9 May 2011]
Life in the chocolate factory - automation, productivity, motivation and culture [24 Apr 2011]
Edexcel AS Business Unit 1 - Specification Resource Map [23 Apr 2011]
AQA AS Business (BUSS2) - Specification Resource Map [22 Apr 2011]
Developing Exam Skills - BUSS2 [19 Apr 2011]
AQA unit 4 - some really good evidence here [29 Mar 2011]
The UK Economy - Business Investment [14 Mar 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]
Revision games - Marketing Basics (True / False) [16 Feb 2011]
Michael Porter - Shared Value and the Limitations of CSR [15 Feb 2011]
Sources of finance - the attraction of franchises [8 Feb 2011]
CSR - The Classic Milton Friedman Clip [5 Feb 2011]
The Year of Corporate Philanthropy [31 Jan 2011]
Q&A - What is “profit quality”? [7 Jan 2011]
Introducing the “austerity” entrepreneurs [4 Jan 2011]
Celebrating the Everyday Entrepreneurs [29 Dec 2010]
Q&A - Why do most businesses sell more than one product? [29 Dec 2010]
BUSS1 Revision Quiz - Sources of Finance for a Startup [13 Dec 2010]
Edexcel Unit 1 Business Studies - Key Term Revision Bank [2 Dec 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]
An Awfully Good start up story [9 Nov 2010]
Revision Crossword - Product Basics [6 Nov 2010]
Profiting from exams [2 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]
Sectors of the Economy - Online is Worth £100bn [30 Oct 2010]
Profits up at Amazon - but so are costs [22 Oct 2010]
Hilary Devey - Profile of an Inspirational Entrepreneur [22 Oct 2010]
Businesses argue the case for greater investment in public infrastructure [16 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]
McDonalds doesn’t want brand recognition - really? [22 Sep 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]
37 Ways for a Business to be More Competitive [24 Aug 2010]
Lesson Worksheet - Adding Value [10 Aug 2010]
Lesson Worksheet - Franchises [9 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]
Starter Activity - AQA GCSE Unit 2, Growing as a Business [27 Jul 2010]
Lesson Activity - Market Research Cloze Exercise (1) [13 Jul 2010]
Entrepreneurs LIVE! 2010 - THE Enterprise Event for Students in 2010 [1 Jul 2010]

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