Starting a business is tough, especially for small start-up companies. Apart from having a smart business idea in mind, one of the many things you have to prepare is a business plan. This plan maps out in great detail, how your business is going to achieve its goals, also including all relevant marketing, financial and operational aspects of starting a company. Although it is rarely possible to strictly follow this plan, it will help to structure the idea, get to better know the market, customers and competitors and define important goals. Designing a businessplan is an iterative progress in which expert´s advice can be very helpful. One way to get this help is to participate in business plan contests.
Most businessplan contests like science4life, b-p-w and start2grow accompany a start-up through different phases of the business plan development: idea, concept and a finalized plan. Fortunately we have been using this offer and participated in the early phases of science4life and start2grow. The feedback, advice and coaching we have received has helped us enormously to improve our business model, structure our ideas and communicate the disruptive potential of labfolder.
After all, our labfolder business plan has been successful during the final rounds of various businessplan competitions:
Not only did we take home some prize money, awards and pretty certificates, most importantly, we received invaluable support in refining our labfolder business plan, the possibility to become part of a vivid exchange network of young start-ups and experienced entrepreneurs and the fun of meeting many interesting people! We would like to express our gratitude to all the organizers of business plan competitions for providing labfolder with valuable support and advice!
Author: Johanna Havemann