| Siti Hajar |
AN EFFECTIVE business plan has the potential to reap rewards for a company that takes the time to invest in a document that provides a roadmap of the direction that its stakeholders wish to take.
During a workshop that was held at the iCentre in Berakas yesterday, the Chief Financial Officer of International School Brunei, Ambrose Nathan, explained that, “Taking time to create an extensive business plan provides a company with insight to your business.”
With the foundation of a successful and profitable business being effectively meeting the demands and expectations of a customer, it was also reminded that a business plan can serve as a powerful financing proposal.
It was reminded, however, that, “While all business plans follow the same structure, each business will have a unique plan with a different set of information.”
The one-day workshop, which precedes two similar programmes under the iCentre’s iAccelerate initiative, was designed to provide an interactive platform to develop the knowledge and skills required to become a successful and sustainable start-up.
As part of the iCentre’s initiative, such programmes explore topics ranging from ideation to market validation by maximising skill sets of entrepreneurs as they venture into the next stage of their business.
The effectiveness of such workshops, as explained by a participant yesterday, Zakwan bin Zainal Abidin, lies in the sharing of basic knowledge of factors such as market channel, revenue pricing and proposition.
“I now know how to craft a better business canvas and I now understand that pivoting a business plan is the norm so long as it can be validated,” he said.
The next workshop will be held on February 26 based on the topic, ‘Marketing and Market Validation’.
Further information can be obtained by contacting the iCentre.