The Business Model Canvas Explained
The Business Model Canvas (BMC) is a strategic tool that allows you to visualize, design, and redefine your business model. Created by Alexander Osterwalder and Yves Pigneur, Strategyzer AG is the company behind the development of the BMC. It’s a visual chart with nine blocks that signify different elements of a business. With the Business […]
What Is A PEST Analysis?
What Is A PEST Analysis? The success of a startup business is influenced by factors operating in its internal and external environment; a business can increase its success by adopting strategies that manipulate these factors to its advantage. A successful business will not only understand existing factors but also forecast change so that it can […]
Break-Even Analysis
When you have what you think is a good idea, the first step is to analyze whether your business will succeed. The first financial tool you should use is a break-even analysis. A break-even analysis will calculate what your revenues must be for your business to produce a profit. The key to using this tool […]
What is a SWOT Analysis?
SWOT Analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a business venture or business startup. It involves specifying the objective of the business venture or startup and identifying the internal and external factors that are favorable and unfavorable to achieving that objective. A SWOT analysis starts with a definition of a […]
How to Create Financial Projections for your Business Plan
Starting a business is an exciting time, but one that can come with some uncertainty. Writing out your business plan helps to increase your success significantly in addition to reducing some of the worries by getting all the ideas out of your head and organized on paper. Financial projections are an essential component of the business […]
How to Write an Effective Business Plan Executive Summary
When writing a business plan, the first thing readers will see is the executive summary. If your plan is being used to go after funding, it’s crucial to carefully craft the executive summary to capture the reader’s attention. How do you write an excellent executive summary? Read further to find out! What is an executive […]
How to Create a Projected Cash Flow Statement
One of the most important financial statements to pay attention to when starting a business is the projected cash flow statement. Not only is a projected cash flow statement a must when applying for a loan, but it also gives the business owner insights into whether the business has enough cash to operate. Below, we […]
How to Write a Business Plan
The usual reason most people write a business plan is because the bank won’t even consider lending them money until they have one. While getting the loan is a major milestone in starting a business, the business plan can be much more valuable than just getting the loan. A business plan is a roadmap that […]