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Moving from ideas to action requires a plan: how, where, who, and with what funds? In the business, we call this a business plan.

Business Model Canvas

The business model canvas quickly and clearly describes what a company or organization does, how it finds its customers, and creates and delivers products or services (value added).

Every business, whether it is profitable or not, has a business model. Sometimes the model is just in the entrepreneur’s head, but at the start-up stage, it’s best to write a business model on a paper to make it clear to both yourself and the rest of the group.

Well planned business model helps you to:

  • Find the right target group to who you can first try to sell the business idea.
  • Explain your idea and answer the following questions: what, when and to whom and with whom.
  • To find easy-to-use and defined ways of doing business, avoiding dead ends.

How is a business model canvas done?

When creating your business model canvas, you should use a tool or foundation to ensure that important areas of the model are not forgotten. A popular business model design tool is Business Model Canvas, where the company’s various functions are divided into sections.

Business plan

The business plan is usually built on the basis of the business model and describes the resources and steps needed to start the business. It helps to shape and plan structured business operations and profitability.

The business model and business plan can be considered as building a house project. The business model is like the drawings of the house. The functionalities that needs to be secured and the necessary permits obtained. When these are okay, an accurate plan with more detailed information on the construction schedule, contracts and financing is done.

The business plan is a description of the following things:

  • Business idea
    Why the company or exists or what is the problem that you want to solve?
  • What the company does in practice?
    Description of your product or service
  • Your skills and cooperation
    Can we actually make this idea work? What can we do ourselves and where will we need help? (e.g. website, accounting etc.)
  • Clients
    Who will your company sell its products to?
  • Competitors
    Does someone else sell similar products or services?
  • Finances
    How can we start our business and how much money do we need? Where will that money come from? Who’s responsible for your accounting?
  • Risks
    Business may have risks, such as accidents, damaging the client’s property or other damages.
    Estimate the risks of your operations and consider whether you need to get a separate insurance.

    • In some cases, the school’s insurance may be sufficient, but be sure to confirm this with your teacher!Finnish Safety and Chemicals Agency TUKES
      Finnish Food Safety Authority Evira
      Finnish Transport Safety Agency Trafi
      Translations of Finnish acts and decrees
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