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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.

"I now realise that I need to go on more programmes"

Chris Veeningen has been working in the financial sector for 20 years, first in the equity department of a bank and then ‘on the other side’, as a corporate financier. As the financial adviser of the Start Foundation, a Dutch non-profit organisation, he wishes to help people with a disadvantage on the labour market. By means of a social profit grant, Chris took the two-day Venture Capital and Private Equity Programme at Vlerick.

We’re consistently recognised as one of the top business schools in the world

When you’re choosing where to learn about business, it makes sense to partner with a school that’s recognised across the world for the quality of its programmes. Yet in a world full of spin, how do you know who to listen to? In the world of business learning, there’s an easy way to assess which schools stand out head and shoulders above the rest.

“The relationship between man and machine is fundamentally changing”

Two months after its kick-off, around 400 Take the Lead executive education students gathered in Brussels for the inspiration session. The goal was to find out about concrete applications for AI and new digital technologies at close hand. “This day exceeded my expectations,” says Peter Monsieurs from Pontis. “What I found most interesting is that you don’t need to have a huge amount of technological knowledge, experience and budget to start working with AI. And that certainly opens up options.”

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