Nanotechnology Entrepreneurs have the future in mind when they dream about the impact nanotechnology will have on both businesses and society. Entrepreneurs who have selected to develop a new business centered around nanotechnology have an enormous amount to consider, especially with a young field such as nanotechnology. Venture capitalists are always looking for market trends that promise them big returns on investment (ROI). However, before you even begin to develop a business plan for your future business I do recommend you have at least two years of experience in the field you like and as a manager. Of course the more experience you acquire the easier it is for you to make strategic decisions. Decisions that not only impact your employees but also your business. Along with hands-on-experience in the business world you should also have sufficient funding when starting your new business. How much? That depends on what sector of the economy (or market) your business will revolve around. If you can meet these two requirements than you can begin to think about writing the business plan.

Introduction to developing a business plan:

What is business plan:

A business plan -

  • is a written description of your business's future.
  • a document that describes what you plan to do and how you plan to do it.
  • conveys your business goals, the strategies you'll use to meet them, potential problems that may confront your business and ways to solve them, the organization structure of your business (including titles and responsibilities), and finally, the amount of capital required to finance your venture.

Three primary parts to a business plan:

  • Business concept (in other terms the business model)
  • Market section
  • Financial section

The three parts of a business plan can be broken done into smaller pieces, which are outlined below:

  • Executive summary
  • Business description
  • Market strategies
  • Competitive analysis
  • Design and development plan
  • Operations and management plan
  • Financial factors

There are four types of business plans:

  • The Miniplan
  • The Working plan
  • The Presentation plan
  • The Electronic plan