Business Model

Uncovering Hidden Risks: A Comprehensive Guide to Business Plan Risk Analysis

Risk Management Process - Business Plan

A modern business plan that will lead your business on the road to success must have another critical element. That element is a part where you will need to cover possible risks related to your small business. So, you need to focus on managing risk and use risk management processes if you want to succeed as an entrepreneur.

How can you manage risks?

You can always plan and predict future things in a certain way that will happen, but your impact is not always in your hands. There are many external factors when it comes to the business world. They will always influence the realization of your plans. Not only the realization but also the results you will achieve in implementing the specific plan. Because of that, you need to look at these factors through the prism of the risk if you want to implement an appropriate management process while implementing your business plan.

6 Questions to Create Your Small Business Revenue Model

6 Questions to Create Your Small Business Revenue Model

The revenue model is an important part of your business model because everything that you create in your business model will need to be evaluated through the revenue model.

The success of your business model and the success of your small business often will be based on the success of your revenue model. If your revenue model works, it will generate enough income to cover all the costs that your small business will make, but also will enable you enough profit with which you can finance the future development of your company.

But, in my experience, many entrepreneurs make mistakes when it comes to revenue models even though they have created really respectful other elements of their business model.

Here, I would like to show you how you can build your revenue model using the answers to six important questions.

30 Things You Can Do With Your Business Plan

30 Things You Can Do With Your Business Plan

A business plan is a tool that means life for your company. The existence of a plan is to help you as an entrepreneur to make your company better, more profitable, and more stable.

You must use the real potential stored in your business plan. It is one of the most important elements of your whole business’s potential energy.

I have already seen many businesses that were started without a business plan becoming successful companies. However, the potential of that business will be much bigger if its entrepreneurs use and implement the plan as a tool that will map their path to success. Alternatively, at least the business plan would reduce the time between the starting point and some success points in the future.

75 Questions You Will Need to Answer as a Startup Entrepreneur

75 Questions You Will Need to Answer as a Startup Entrepreneur

The startup level of any business is one of the most complex and, at the same time, most interesting levels in a business life cycle.

Will this startup succeed or fail?

Everything that you will build at this level will reflect on the strengths and durability of the foundations of your new business.

Here, I want to share 75 questions that will need to be answered by startup entrepreneurs.

5 Business Ingredients That Your Company Will Always Need

5 Business Ingredients That Your Company Will Always Need

What are the business ingredients that your company will always need? Is it more customers? Or, better products and services? Or, a better business process?

If we continue to brainstorm the needs of a small business that will make them become successful companies, we can easily come to hundreds or thousands of separate needs.

But, thy are not isolated. One ingredient will help to other one.

Now, what are the most important ingredients that your business will always need?

Let’s look at some of them.

What is a Business Model?

plan business plan

Many times here on Entrepreneurship in a Box I emphasize the meaning, importance, and usefulness of the business model. Yes, it is really important for the success of you as an entrepreneur and your small business. It is true because the business model will give you a simple but clear path you will need to walk.

In the past, there was not a systematic approach to build one that will enable you systematically to follow and improve it through practice. There are many scientific papers that talk about it, but still, there is no step-by-step solution when it comes to designing one, and use it for building and running your own business.

So, you read about modeling of your business, but you were alone and left on yourself how you will design one and use it in the future. Before several years this was changed. Now, we already have systemized approach that will be easy to use. Not only in designing, but also in the improvement of every important aspect of your small business design.

The best approach to build a business model in a very descriptive way where you will obtain the most important aspects of your business is described throughout the book titled Business Model Generation – A Handbook for Visionaries, Game Changers, and Challengers from Alexander Osterwalder and Yves Pigneur.