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PLANNING FOR SUCCESS

Practical tips for product/service development and business plan

Argue that after the completion of a business model canvas, any business is
encouraged to develop a business plan. With this tool they will work on
1 describing their business proposition in a more detailed way, ensuring that
critical and essential information about their business operations and finances
is known in-depth and supported by others, e.g., investors and customers.
Present other tools that can help participants understand what they have to do
to translate a business model canvas into a business plan. Explain to
2 participants that the majority of these tools are online, some for free download

and others need to be purchased. Facilitators are advised to read and explore
the suggested resources before presenting them to the learners.
Use the SMART methodology with the aim of clarifying what is expected from
3 the business idea and the measures used to determine if the goals set in the
business plan are achieved and successfully completed.
4 Replicate this activity by using the SMART methodology to explain how
participants can improve the achievement and success of their business idea.
Remember to introduce and clearly explain, during the session, all the business
5 lingo that might not be of the knowledge of the participants. Some of these
terms can be market analysis, unique selling point, profitability, target market,
commercial strategy, etc.

How to translate a business model canvas into a business plan
www.youtube.com/watch?v=zCrdn1AvtoE
Resources Business plan

www.investopedia.com/terms/b/business-plan.asp

Business plan generator
www.risinginnovator.com/free-business-plan-generator

SMART methodology
www.atlassian.com/blog/productivity/how-to-write-smart-goals

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