Business Plan and other considerations

Although the planned language course is a new venture as far as I am concerned, I am lucky enough to be able to skip the need to investigate funding, loans, etc. But I still need a business plan – it’ll help to visualise my goal, my objectives and to plan milestones for the new venture.

“The real value of creating a business plan is not in having the finished product in hand; rather, the value lies in the process of researching and thinking about your business in a systematic way. The act of planning helps you to think things through thoroughly, study and research if you are not sure of the facts, and look at your ideas critically. It takes time now, but avoids costly, perhaps disastrous, mistakes later.”

I have naturally made a thorough search on the internet on the topic of teaching business English in this region and the SWOT analysis has not found any serious obstacles –in fact the analysis looks promising, particularly as I have been fortunate enough to find a very experienced colleague, engineer, lecturer and consultant, Dr. Jim Cooling, who is willing to assist if needed.
Strengths
Many years teaching adult experience
Educated in English-speaking countries
Have worked in industry and have practical experience of vocabulary etc
Partnership with UB Language consult
Partnership with Lindentree Associates
Wide international network
Only local provider
Flexibility – classes can be run outside of working hours
Weaknesses
No market analyses carried out
Other, bigger organisations offer English language courses
On-line/correspondence courses are available
Opportunities
Fehmern Belt project: English is working language
Increased tourism and English speaking visitors
Threats
Other courses being provided locally
No customers/interest
Sole proprietor – illness etc would require supplementary help (Found – no longer a threat)

I have not done a market analysis for the need and desire to learn business English and I do not want to, at this stage, spend money and time on doing one – it may prove to be a big mistake. We’ll see.
Based on the business plan, encouragement from Erhvervsråd Lolland-Falster (Council of Trade and Commerce LF) and others I’ll go ahead with the plans.

The domain name is registered, a basic homepage is set up, and ideas for a brochure and business card are being considered.