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Business model and business plan are closely linked in entrepreneurship, and they together
form the foundation of entrepreneurial success. A business model is at the heart of a business
plan. The business model describes how an enterprise creates value, transmits value, and
obtains value. It determines the way an enterprise operates, the characteristics of the product
or service, the market positioning, and the way it makes profits. It also focuses on the value
creation of both the demand side and the supply side [47]. Some scholars use the business
model canvas to guide students in making business plans [48]. A business plan is a specific
implementation plan formulated based on a business model, including target setting, market
strategy, marketing strategy, operation strategy, etc. Therefore, a business model is the core of
a business plan, and the business plan needs to be formulated under the guidance of the
business model. A business plan is the execution plan for the business model. Business plan A
business plan is the refinement and embodiment of the business model. It describes in detail
how an enterprise implements the business model, including the specific action plan, schedule,
resource allocation, etc. Business plans need to ensure the effective implementation of
business models and provide specific guidance for the development of enterprises. The
business model and the business plan jointly determine the success of the enterprise. The
innovation and feasibility of the business model determine the competitiveness and
profitability of an enterprise, while the effective implementation of the business plan
determines whether the enterprise can realize the potential of the business model. Therefore,
the business model and the business plan jointly determine the success of an enterprise. In the
process of starting a business, entrepreneurs need to constantly optimize their business models
and business plans to adapt to the needs of market changes and enterprise development.
Business models and business plans need to adjust to each other. As the market changes and
the enterprises develop, the business models and plans may need to be adjusted accordingly.
Business models may need to be optimized to meet changes in market demand, while business
plans will need to be tailored to ensure that companies can grow in line with their stated goals.
Therefore, in the process of starting a business, entrepreneurs need to continuously pay
attention to market changes and enterprise development and timely adjust and optimize their
business models and business plans. In short, business models and business plans are closely
linked in entrepreneurship, and they together form the foundation of business success.
Entrepreneurs need to fully consider the characteristics and needs of the business model when
making a business plan and constantly optimize the business model to meet the needs of
market changes and business development. The innovation of business models plays a positive
role in improving enterprise performance. A positive business model can help enterprises
recognize who to create value, what kind of value, how to create value, how to deliver value,
and other issues so as to improve the operation efficiency of enterprises. Enterprises can also
obtain competitive advantages and competitive resources through business models. According
to the literature reviewed, more and more companies are now turning to business model
innovation as an alternative or supplement to product or process innovation, so the business
model is playing an increasingly important role in the process of entrepreneurial application.
Making a sound business plan can enable entrepreneurs to think deeply about the risks they
may encounter and improve their entrepreneurial vigilance. A sound business plan can improve
the overall operation efficiency of the enterprise and the enthusiasm of employees. The
business plan mainly plays a positive role in the process of entrepreneurial application by
clarifying entrepreneurial ideas, integrating resources, connecting investors, planning
companies and projects, and obtaining venture capital. In addition, relevant scholars point out
that potential college entrepreneurs pay more attention to business plans than other
entrepreneurs, so it can be seen that business plans are also valued by young entrepreneurs.
The future trends of business models and business plans in the entrepreneurial field may be
influenced by a variety of factors, including technological advances, changing consumer
demand, market competition, and the global economic environment. Here are some prospects
for the future development trend: (1) Digitization and intelligence trend: With the rapid
development of big data, artificial intelligence, the Internet of Things, and other technologies,
the future business model will pay more attention to digitalization and intelligence. Companies
can make more refined business plans by collecting and analyzing large amounts of data to
more accurately understand consumer needs and market trends. At the same time, intelligent
technology can also help enterprises optimize their operational processes, improve efficiency,
and reduce costs. (2) The trend of personalization and customization: With the diversification
and personalization of consumer needs, the future business model will pay more attention to
the personalization and customization of products and services. Enterprises need to provide
customized products or services according to consumers’ needs and preferences. More market
research and consumer insights may be included to determine the needs and preferences of
target consumers and to develop appropriate product or service strategies. (3) Flexibility and
adaptability trend: In the face of the rapidly changing market environment, the future business
model will pay more attention to flexibility and adaptability. Companies need to be able to
quickly adjust their business plans to adapt to changing markets. Therefore, more flexibility and
adaptive strategies such as agile development, rapid iteration, etc. may be included in business
plans. In short, the future trends of business models and business plans are likely to focus more
on digitalization, intelligence, sustainability, personalization, customization, platform, ecology,
flexibility, and adaptability. Through the above discussion, a good business model and business
plan can improve the success rate of entrepreneurship and help enterprises achieve higher
performance, as represented by college students. Entrepreneurs need to pay close attention to
market changes and technology development trends, pay attention to the changing trends of
their business models and business plans, and constantly optimize and adjust their business
models and business plans to adapt to future market competition and consumer demand so as
to promote the success of entrepreneurship To sum up, on the road to entrepreneurship, the
development of a business model and a business plan is crucial. First, an in-depth
understanding of the market and customer needs is the basis for developing a successful
business model. The basic dimensions of a business model are resource structure, transaction
structure, and value structure. Therefore, a perfect business model can help college students
and all entrepreneurs coordinate resources and predict market value in the process of
entrepreneurship. Through market research, entrepreneurs can better grasp the market trend
and competition situation so as to find an accurate positioning for their products or services.
Secondly, college students need to keep their innovative thinking and constantly explore new
business models. In a competitive market, the traditional business model may be difficult to
foothold, so it needs to have the courage to try new business models and seek the advantages
of differentiated competition. When making business plans, college students need to pay
attention to the feasibility and operability of the plan. A business plan requires not only clear
goals and strategies but also specific action plans and schedules. At the same time, it is also
necessary to consider the reasonable allocation of resources and risk management to ensure
the smooth implementation of the plan. In addition, college students also need to keep learning
and improve their abilities. The development of business models and business plans is a
complex process that requires rich knowledge and experience from entrepreneurs. Therefore,
college students need to continue to learn new knowledge and new skills to improve their
comprehensive quality and ability level.

College students have problems with a lack of overall digital literacy and low entrepreneurial alertness
[44], and making a sound business plan can make entrepreneurs think deeply about the risks they may
encounter and improve their entrepreneurial alertness. Through the above understanding of how to
make a business plan and how to make it, the following six points summarize the application of a
business plan in entrepreneurship.

1) Clear up the entrepreneurial thinking. Having a good idea is just the beginning of starting a business.
Entrepreneurs have too many things to do in order to achieve this idea. And you will inevitably face
brutal market competition. There are many obstacles and difficulties that will appear at any time that
you have never thought of. War requires strategy, and entrepreneurship, while not that demanding,
requires at least a roadmap. A business plan is a roadmap for entrepreneurs. By writing a business plan,
founders can comprehensively check their ideas, find problems, and add omissions.

2) Resource integration. Internal entrepreneurship theory refers to the creation of new businesses by
utilizing the products, technology, personnel, and capital resources within the existing organization so as
to improve the competitiveness and profitability of the organization [45]. Investors should take existing
resources into account when making a business plan and plan to allocate existing resources reasonably.
College students should learn to use the accumulated contacts and other resources in colleges and
universities so as to improve the success rate of entrepreneurship.
3) The carrier should contact the investors. Although the best way to contact investors is still being
introduced, most entrepreneurs don’t have it. They can’t just go to their investors’ offices to find them,
so many entrepreneurs choose to email their investors. Of course, some entrepreneurs also participate
in various activities that can reach investors to seek opportunities to promote projects. But this meeting
time is too short; it is difficult to give investors a comprehensive understanding of a project.

4) Planning for companies and projects. A brewing project is often vague, and through the writing of a
business plan and venture capital plan, a complete and feasible venture capital plan can be put on
paper. To become the action guide for start-ups and the “golden key” to attract investment.
5) Access to venture capital investment. A good business plan is the key to making an investment. How
to attract investors, especially venture investors, to participate in entrepreneurs investment projects,
then a high-quality and rich content of the business plan to the company and the advantages of the
project, potential, operational ideas, and business model such as a perfect show to investors, will make
investors faster, better understand the investment projects, have confidence in the project, enthusiasm
to get its favor, mobilize investors to participate in the project, and eventually raise funds for the
project. In addition, according to the research, potential college student entrepreneurs pay more
attention to business plans than experienced entrepreneurs [46], indicating that college students have
begun to pay attention to the development of business plans in the process of entrepreneurship. : 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. 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. paper puts forward suggestions for entrepreneurs represented by college
students.

In today’s highly competitive and rapidly developing business environment, entrepreneurship has
become an important force to promote economic growth, create job opportunities, and drive social
progress. Entrepreneurship is an important driving force to promote regional economic growth and a
key carrier for deepening supplyside structural reform and implementing an innovation-driven
development strategy. College Students Innovation and Entrepreneurship Training Plan” to promote
innovation and entrepreneurship activities for college students. However, although the environment for
the number of entrepreneurs is improving and the number of entrepreneurs is increasing, the failure
rate is still high, as is the result for college students, too. Many scholar analyzed the reasons for the
failure of college students’ entrepreneurship pointed out the entrepreneurial difficulties of college
students, also these scholar explore the path These scholars also explored the path of innovation and
entrepreneurship from the aspects of national policies, setting clear goals, building teams, improving
courses, improving their own quality, psychological education college students’ entrepreneurship and
can effectively expand the theoretical system of college students’ innovation and entrepreneurship
work, which is of great significance to college students’ entrepreneurship college students can learn the
writing of business models and business plans through innovation and entrepreneurship
competitions.analyzing the role of business model and business plan in entrepreneurship and exploring
the significance of a perfect business model and business plan for entrepreneurship.

In conclusion: entrepreneurial alertness and making a sound business plan can make entrepreneurs
think deeply about the risks they may encounter and improve their entrepreneurial alertness, Studying
Entrepreneurship is a task full of challenges and risks. Entrepreneurs represented by college students
will encounter a variety of problems and challenges. Developing business ideas and visions, raising
money for start-ups, and finding the right business location are common internal challenges for new
entrepreneurs.successful entrepreneurial cases and analyzing the business model and business plan
behind them can help reveal the internal mechanisms and laws of entrepreneurial success and provide
reference and guidance for later entrepreneurs. entrepreneurial decision-making effect points out that
entrepreneurship is an iterative process in which entrepreneurs constantly adjust their understanding
and decision-making of entrepreneurial output. Guiding entrepreneurial practice: For entrepreneurs, a
reasonable business model and business plan are the keys tentrepreneurial success. Studying this field
can provide specific guidance and suggestions for entrepreneurs and help them better design business
models and make business plans, so as to improve the success rate of entrepreneurship.

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