Business Planning starts from clear objectives
Business Plan is a detailed document that explains how a business (both newly created business that already existing) defines its objectives and how it is achieve its results (i.e. profit; positive revenue stream). A business plan lays out a clear roadmap outlining marketing, financial, and operational strategy.
Set the objectives you intend to reach, then shape your Business Plan according to objectives and available resources to reach them.
Marketing and Communication is a fundamental phase to reach out the general public and, more specifically, your potential customers.
Plan, Execute, Monitor
Business Planning results in a comprehensive and very articulate (re)organisation of sources and resources to operationalise your business, create value and generate profit.
How these sources and resources are organised is explained in detail in the Business Plan; a formal document representing a comprehensive executive summary of your business and highlighting its defining elements.
You are requested to do the same for your Sustainable Tourism initiative. Typically, banks, private investors and third parties in general are interested in your Business Plan because it allows them to get a sense on what might be the impact of your business idea – and to understand if it is profitable or not.
Writing down the business plan is also a very important self-assessment exercise of how much you do actually understand about your business. If you are fully aware of your initiative, then you will be much more confident in communicating and valorising it to others.
There is not a “standard” way to write down a Business Plan. However, there are few consolidated guidelines facilitating you in the process.
- State the objectives of your business – key guidelines could be: what kind of service are you offering to the market and how it is sustainable?
- Highlight the innovative features of your offer – for instance, a guiding question might be: in which way your Sustainable business is unique and why it is so attractive?
- Target your customer base and the market of your interest. Write them down and brainstorm on possible ways to engage them. The Sustainable Tourism’s ecosystem is very broad; be sure to make clear the segment you want to address
- Exercise and practice to sum-up in 1 min. at max the characteristic elements of your business. This is the so called “Elevator Pitch”: an oral narration of the business that entrepreneurs rely on to describe in a catchy a concise way their business activity.
- Talk with your relatives and friends and make sure that you are well understood, seek for feedbacks and ask for constructive criticism
- Once you fell you are fully aware of your value proposal, search for external partners, potential customers and occasions for networking
- These days the Web offers unique opportunities for training and education. Consider to participate in online conferences / webinars / workshops dedicated to the subject of Sustainable Tourism. In most cases, such events represent a great opportunity to get in contact with other proficient realities and socio-economic actors operating in the overall domain of sustainability
Business Planning is the first phase to start a new business or to further develop an already existing business. Take your time at the beginning, trying to plan everything, this will ease your implementation. Business Networking is a great opportunity to meet potential partners/customers/supplier.
- 3.2) I can initiate simple value-creating activities.
- 3.6) I can develop a business model for my idea.
- 3.18) I can use the relationships I have to get the support I need to turn ideas into action, including emotional support.