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Vlerick Blog

Business plans: What they are and why you need one

A series of three articles will explain how to write a good business plan. In this first article we will focus on what business plans are and why you need one. The second article will focus on the characteristics of a good business plan. And in the third one, finally, we will discuss the sections to go in it – and what should go into each one… You’ve identified a new business opportunity – and you’re pretty excited about it. But before you start trying to make it a reality, you need to make sure it’s viable. That’s where a business plan comes in.

What makes a good business plan?

This is the second article in a series of two. Whereas the first article focusses on what business plans are and why you need one, this second article elaborates on the characteristics of a good business plan. And in the third one, finally, we will discuss the sections to go in it – and what should go into each one… A business plan isn’t just a document for you. It’s the way you’ll showcase your idea to investors and other stakeholders. So make it specific to the opportunity, and tailor it to your company. No two business plans are the same. But there is best practice you can follow. Good business plans generally share these five characteristics…

Business plans: What to include

So you know you need a business plan and you understand the characteristics of a good plan. Now it’s time to sit down and create one for your organisation. But where to start? When it comes to writing your business plan, there’s no one-size-fits-all. But there are some sections you should definitely include – like an executive summary, details of the opportunity and information about your company.

The Port of Antwerp: Transitioning from elephant to dolphin

Master Student Fernando Tonelli attended the Vlerick MBA Alumni Event with Mr. Jacques Vandermeiren - CEO Port of Antwerp. The port of Antwerp is one of the biggest ports in the world and, along with the port of Rotterdam, one of the most important in Europe. A deep and structured corporate transformation – led by the CEO Jacques Vandermeiren himself – moved the Antwerp Port Authority into the 21st century. Resulting in above-industry growth over the last few years, and profiling Antwerp as the ‘port of the future’. However, this was by no means an easy task…

“My take-away: if you want to start a business today, don’t wait until tomorrow”

The Management Acceleration Programme literally shifted Lorenz Cocquyt's career into a higher gear. For this young manager, the programme was the decisive push to go abroad. Lorenz will soon be leaving for the US to manage an ambitious SME plant.

Five Things Successful Entrepreneurs Do

Our Vlerick Venture Talks bring students face-to-face with pioneering entrepreneurs – and a chance to discover the real-world secrets of their success. 

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