The Importance of a BDP

As mentioned earlier in the module, a Business Development Plan (BDP) is almost always required when looking to secure financing. But there are many reasons why it is important to have a BDP for your business. A BDP is comprehensive. It covers everything from your marketing plan to the projected financial statements for your business. By going through the process of creating a BDP, you will be preparing yourself for the operation of your business, generating new ideas, creating a plan of action for achieving specified goals, and bridging the gap between a business concept and a profitable company. For established businesses, a BDP will help provide guidance for the years ahead, and will enable you to identify strategies for improving your business and ensuring that it will continue its success.

This Course as a BDP Template

This course has been designed to follow the intuitive process of starting a business, which is not that different from the format a standard business plan follows. (The components and format of a working BDP will be discussed in a later module). At the end of each module there are forms to be completed based on what was learned in the module. At the end of all eight modules these forms will come together as a template for your own BDP. By the time the course is finished, you will be able to put together a Business Development Plan for your venture that can be used to present when looking for financing, or to further refine your business activities.

Case Study - Developing a Business Plan: Herbs for Hurts Inc.

Case Study - Long term planning: Canolio Inc.