Seems like we never hear about failure. All online channels and motivational quotes say „follow your dreams”. We only hear about success stories, but hardly talk about bad decisions, lost funds or closed businesses. While I was working at an accounting firm, the most important skill I could gain was
Negotiations are everywhere - but is it just a matter of ripping off the other party? No, says Badr Moudden. And he invokes the tried-and-tested Harvard principle. The system is explained also by simple pictures. Not like this! Bringing negotiations to a good end can be difficult. The Harvard method
(Consider these 5 steps) Products are getting more exciting, PowerPoint presentations more spectacular and the formats for said presentation more extensive. But one component never changes and that is you. In a fast-paced world where contacts are becoming more indifferent and meetings more digital, it's the human component that makes
Current situation In the past, there have often been supply bottlenecks in every industry, which in turn have led to very long delivery times or even complete failures. Many current circumstances lead to sales slumps for companies worldwide because they could no longer get important raw materials and other goods
The appendix In the appendix of the business plan, supplementary information such as tables, organizational charts, data material, important auxiliary calculations and patents, should be placed. Make sure that the appendix remains clear and does not grow into a "data graveyard". Also you should limit yourself to essential data. Do
Business Model Canvas There are different approaches to design the ES of your business plan. Besides the purely textual form you can use graphical forms of presentation. We are convinced that the approach of the "Business Model Canvas", developed by Alexander Osterwalder, is a good summary of your business case.
Executive Summary (ES) The quality of the ES often determines whether the actual business plan is read at all. Therefore, pay special attention to the ES. Everything essentials should be mentioned in the ES, especially your unique selling proposition (USP) and value proposition (VP) should be clearly emphasized. And yet,
Financial planning and financing Part IV: Capital requirements and financing Although liquidity planning shows how much capital is needed at which point in time, but from which sources it originates. Here you should allocate the individual financing items to the suitable providers of capital - starting with the costs for
Liquidity Planning The term "liquid" comes from Latin and means "fluid". Liquidity describes the ability of a company to meet its mandatory liabilities at any time and without restriction, i.e. to be solvent. Liquidity is the most important survival factor for maintaining business operations, the air to breathe, so
Investment Planning Business administration defines the term "investment" very differently. For the purpose of this financial and liquidity planning, a simple and pragmatic definition will suffice: While the expenses focus on the items that regularly occur in your company (e.g., monthly rental expenses), the "investment" planning considers all those
Financial Planning In the first chapters of your business plan, you have already intensively analyzed the customer benefits of your project, developed a market analysis, created a marketing concept, looked at your competitors and much more. With the financial plan you will now complete your business plan. Now it's time
Your development and your scope of action depend to a large extent on your ability to seize opportunities, recognize risks at an early stage and counter them effectively. To do this, it is important to know your strengths and weaknesses. A SWOT analysis comprises a strengths-weaknesses analysis and an opportunities-threats
Being now at this point, you have already planned some points of marketing according to the classical academical approach: The product/service is defined, you have performed a market and competition analysis, you have developed your business model and presented your revenue model. Don’t be confused by the terminology.
What Is Customer Relationship Management? Customer relationship management is your company’s strategy for maintaining engagement with your clients and potential clients. The purpose is to personalize a business relationship, whether it’s B2B or B2C, in hopes that this personalized and strategic touch will result in more business. CRM:
The Business Model If you research the term business model on the web, you won't find a clear definition. In our guidelines, we concentrate on presenting the basic structure of your company and clearly defining your business goals and vision. The strategic decisions for your business are the basis for