Analysis of the importance of business model and business plan in the process of entrepreneurship: Taking college students entrepreneurship as an example

Abstract

This article explores in-depth entrepreneurship, focusing on business models and business plans. Taking the difficulties and challenges faced by college students as an example, it analyzes the importance of business model innovation to entrepreneurial enterprises and its key role in market competition. The article first summarizes the concept of entrepreneurship and the problems it faces, and then introduces the business model and its application in entrepreneurship, the definition and components of the business plan, and how to make an effective business plan according to market demand, technology trends, and the competitive environment. This paper points out that a successful business model needs to be closely combined with market positioning, product strategy, marketing means, profit model, and other elements, and the formulation of a business plan requires rigorous steps. The study has concluded that the business model is the core of the business plan, and the plan is the specific implementation of the model. The two need to adjust to each other and jointly determine the success of the enterprise. The future development trend of the business model and business plan is the trend of digitalization and intelligence, personalization and customization, flexibility, and adaptability. This paper puts forward suggestions for entrepreneurs represented by college students: an in-depth understanding of market and customer needs, the need to maintain innovative thinking, the feasibility of a socialist plan, etc., thus improving the success rate of entrepreneurship. This paper enriches the relevant theories of entrepreneurship, lays the foundation for in-depth research, and has certain theoretical significance.