Your idea can make you rich chapter three: Business Acumen

This chapter is about business acumen, financial performance and about business plan. First they bring some examples of entrepreneurs who doesn't have money to start their own business! They summarized real life examples from the 'Dragons Den'.
After this section the book deals with writing a business plan! They defined the business plan in the following way: A business plan is a statement of intent, a realization, on paper of your product's viability, of your goals and missions, of the industry you’re in, of your business strategy, as well as an analysis of the market and the competition.

There are thousands of business plan examples in the internet but you don't have to follow them because these formal business plan are only interested for the banks and institutions. Your business plan should include a full financial model, a marketing strategy, including competition and product positioning, a breakdown of people and management and a two or five year outlook for your business. The main reason why you should write a business plan is only to show the company that you are not a dreamer. When you finished your business plan you should write another one for yourself.

This is the formal idea of a business plan! The Dragons Den however have another idea how to write your business plan: First you should write a summary of the plan in key words! Then you should keep attention if it is interesting enough for the people who read your plan. For the advertising you can use the AIDA system: Attention (attention of investors), Interest (make interest of reading more), Desire (of what you are offering), Action (action of their own volition). Added to this the objectives, mission and viability of your business, the industry you’re operating in, your product ( define your unique selling point), the market, the competition, your strategy and your financial status.

Furthermore there is a useful part of patents. If you think your idea is brilliant you should first search in the internet whether your idea is not in use yet. You should look at the side for patents: www.patent.gov.uk (you can maybe get there some impressions)