1.4. Module 4 - Business planning tools
This module is introducing the LEAN plan (constraints and conditions), the analysis of components and implementation, understanding the process, from theoretical to practical, steps, empower entrepreneurs on why they should have a plan and take the next step.
This module includes the following topics:
- Why is necessary to plan a business;
- Why the Lean Plan & Moving from Theory to Practice;
- Other tools;
- Reviews and Reflections;
- Supporting the Entrepreneur to move forward;
- References and Further Reading.
Why is necessary to plan a business?
Use online the description of this topic to understand what a business plan is and a need for a business plan. Discuss during face to face meeting.
Why the Lean Plan & Moving from Theory to Practice
Use online the description of the topic Why the Lean Plan where seven themes are presented: The theoretical background of the Lean Plan; The Business Model Canvas; Why Lean plan? What does the Lean plan include? What are the five key principles of the Lean plan? Lean plan as a 4 step process; Template of a Lean Plan.
Use the material on the topic How to implement the Lean Plan with some useful tips that potential entrepreneurs can follow in order to create a lean business plan so that can add value to their planning process and eliminate any kind or risks from the very beginning:
Follow the Lesson Plan for practical exercises:
Use the presentation in power point about what the Lean Plan is and about the process of the Lean Plan, during face to face session to deepen the knowledge on this theme. Use the template Lean Plan for practical exercise that helps the entrepreneur to answer the basic questions of how he/she should draft a business plan and how he/she must do it.
Use the presentation in power point about what the five key principles of the Lean Plan during face to face session to deepen the knowledge on this theme and use the template Five key principles of the Lean Plan for practical exercise with a list of five questions whose answers will correspond to one of each of the five principles of the Lean Plan that helps the entrepreneurs to depict both the customers’ expectations and the entrepreneurs’ capabilities.
Use the presentation in power point about the Lean Plan as a 4-step process during face to face session to deepen the knowledge on this theme. Use the Tool the Lean Plan as a 4-step process for practical exercise that helps entrepreneurs to test and revise his/her plan and identify any corrective actions that need to be met.
Other Tools
Use the presentation in power point about The Five Competitive Forces that drive competition and can affect a company’s ability to serve its customers and make profits.
Use the Template of the five forces’ model for practical work where entrepreneurs have to fill in the threats that may affect his/her business idea. Through the analysis of the five competitive forces, the entrepreneurs will be able to reflect upon the influence of the external environment to his/her business idea. The practical application of the five forces frameworks entails the existence of certain challenges that entrepreneurs need to confront in order to avoid misapplications of the framework.
Present the Tool the Lean Canvas Business Model that focuses on problems, solutions, key metrics and competitive advantages.
Use the Template of the Lean Canvas Business Model for practical work. Entrepreneurs have to fill it by topics in the nine building blocks.
Reviews and Reflections
Pinpoint the expectations of entrepreneurs from their business advisors identifying of the most efficient business plan.
Use the Template: create your own ideal business advisory relationship. Ask entrepreneurs to identify their own ideal business advisory relationship answering:
What will be the greatest challenge as a business advisor to potential entrepreneurs?
How will the combination of teaching applicable business models and assignment development can lead to a successful business advising?
What special information should potential entrepreneurs seek to obtain about their future business advisors?
Supporting the Entrepreneur to move forward
Use online the description of this topic that focuses on the steps which an entrepreneur should take to move forward in developing his business, once the business plan is set up.
Use the power point presentation on How can you develop your business, by applying a positioning strategy and on Steps to product Positioning. Discuss these themes with participants.
Use the Marketing strategy business template to help shape entrepreneur marketing strategy. It combines information on his target market and business with marketing tactics, to think strategically and create a plan of action.