Readiness Of Business Model and Business Plan to Improve Successful Business Idea Realization

Abstract

The level of success for startup businesses is still low. Beginner businesspeople are still marginal because of the compulsion and not following their competency background for preparing business readiness. The study's objectives are to improve realising successful businesses idea with the readiness of business process factors (business model and plan). The study used the Primary Quantitative Research Methods-Cross-sectional survey with population and sample of candidates and budding businesspeople. The result shows that the first, the readiness of business models affect direct and indirect, through business plans, improve realising successful businesses idea. This includes Freemium, On-Demand, Marketplace, Direct Sales, Reverse Auction, Software as A Service (SaaS), e-Commerce, and Advertising, Affiliate, and Pay-Per-Use. The second, the readiness of business plan directly improve realising successful businesses idea. This includes Business Principles and Stakeholder Commitment, Business Description, Market Analysis, Operational Analysis, Market Opportunity and Competitor Analysis, Financial Analysis, and Strategic Planning Analysis. The implications of the study, that to improve the successful developing business idea of new businesses, they should strengthen their readiness to develop business models and business plans. Future research recommends expanding research on other factors that influence moving from an idea to an entrepreneurial enterprise.