{"id":1974,"date":"2025-09-26T14:45:39","date_gmt":"2025-09-26T14:45:39","guid":{"rendered":"https:\/\/heklan.is\/?post_type=fraedsla-frumkvodla&#038;p=1974"},"modified":"2025-09-26T14:45:41","modified_gmt":"2025-09-26T14:45:41","slug":"vidskipta-og-rekstraraaetlanir","status":"publish","type":"fraedsla-frumkvodla","link":"https:\/\/heklan.is\/en\/fraedsla-frumkvodla\/vidskipta-og-rekstraraaetlanir\/","title":{"rendered":"Business and operating plans"},"content":{"rendered":"<p class=\"wp-block-paragraph\">To determine whether a business idea is viable, it is advisable to create a business plan for it. The content of business plans varies, while the topics covered are usually the same.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A good business plan includes a well-organized summary, a description of the business idea, information about the product, management and organization, the market and competition, a marketing strategy and plan, and how the finances will be handled.<\/p>\n\n\n\n<div class=\"wp-block-greenshift-blocks-toc gs-toc gspb_toc-id-gsbp-26e2c97\" id=\"gspb_toc-id-gsbp-26e2c97\" data-offset=\"150\" itemscope itemtype=\"https:\/\/schema.org\/ItemList\"><div class=\"gs-autolist\"><div class=\"gs-autolist-item\" itemscope itemprop=\"itemListElement\" itemtype=\"https:\/\/schema.org\/ListItem\"><span class=\"gs-autolist-number\">1<\/span><span class=\"gs-autolist-title\"><meta itemprop=\"name\" content=\"Fyrstu dr\u00f6g\"\/><a class=\"gs-scrollto\" href=\"#fyrstu-drog\">First draft<\/a><\/span><\/div><div class=\"gs-autolist-item\" itemscope itemprop=\"itemListElement\" itemtype=\"https:\/\/schema.org\/ListItem\"><span class=\"gs-autolist-number\">2<\/span><span class=\"gs-autolist-title\"><meta itemprop=\"name\" content=\"Stofnkostna\u00f0ar\u00ad\u00e1\u00e6tlun\"\/><a class=\"gs-scrollto\" href=\"#stofnkostnadar-aaetlun\">Capital expenditure plan<\/a><\/span><\/div><div class=\"gs-autolist-item\" itemscope itemprop=\"itemListElement\" itemtype=\"https:\/\/schema.org\/ListItem\"><span class=\"gs-autolist-number\">3<\/span><span class=\"gs-autolist-title\"><meta itemprop=\"name\" content=\"Fj\u00e1rhags\u00e1\u00e6tlun og reiknil\u00edk\u00f6n\"\/><a class=\"gs-scrollto\" href=\"#fjarhagsaaetlun-og-reiknilikon\">Budget and Calculation Models<\/a><\/span><\/div><div class=\"gs-autolist-item\" itemscope itemprop=\"itemListElement\" itemtype=\"https:\/\/schema.org\/ListItem\"><span class=\"gs-autolist-number\">4<\/span><span class=\"gs-autolist-title\"><meta itemprop=\"name\" content=\"Framkv\u00e6mdin og verkf\u00e6rin\"\/><a class=\"gs-scrollto\" href=\"#framkvaemdin-og-verkfaerin\">The process and the tools<\/a><\/span><\/div><\/div><nav class=\"gs-section-sticky-nav\"><ul class=\"gs-sticky-toc-list\"><li itemscope itemprop=\"itemListElement\" itemtype=\"https:\/\/schema.org\/ListItem\"><meta itemprop=\"name\" content=\"Fyrstu dr\u00f6g\"\/><a class=\"gs-scrollto\" href=\"#fyrstu-drog\">First draft<\/a><\/li><li itemscope itemprop=\"itemListElement\" itemtype=\"https:\/\/schema.org\/ListItem\"><meta itemprop=\"name\" content=\"Stofnkostna\u00f0ar\u00ad\u00e1\u00e6tlun\"\/><a class=\"gs-scrollto\" href=\"#stofnkostnadar-aaetlun\">Capital expenditure plan<\/a><\/li><li itemscope itemprop=\"itemListElement\" itemtype=\"https:\/\/schema.org\/ListItem\"><meta itemprop=\"name\" content=\"Fj\u00e1rhags\u00e1\u00e6tlun og reiknil\u00edk\u00f6n\"\/><a class=\"gs-scrollto\" href=\"#fjarhagsaaetlun-og-reiknilikon\">Budget and Calculation Models<\/a><\/li><li itemscope itemprop=\"itemListElement\" itemtype=\"https:\/\/schema.org\/ListItem\"><meta itemprop=\"name\" content=\"Framkv\u00e6mdin og verkf\u00e6rin\"\/><a class=\"gs-scrollto\" href=\"#framkvaemdin-og-verkfaerin\">The process and the tools<\/a><\/li><\/ul><div class=\"gs-toc-mobile\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" x=\"0px\" y=\"0px\" width=\"29.957px\" height=\"122.88px\" viewbox=\"0 0 29.957 122.88\"><g><path d=\"M14.978,0c8.27,0,14.979,6.708,14.979,14.979c0,8.27-6.709,14.976-14.979,14.976 C6.708,29.954,0,23.249,0,14.979C0,6.708,6.708,0,14.978,0L14.978,0z M14.978,92.926c8.27,0,14.979,6.708,14.979,14.979 s-6.709,14.976-14.979,14.976C6.708,122.88,0,116.175,0,107.904S6.708,92.926,14.978,92.926L14.978,92.926z M14.978,46.463 c8.27,0,14.979,6.708,14.979,14.979s-6.709,14.978-14.979,14.978C6.708,76.419,0,69.712,0,61.441S6.708,46.463,14.978,46.463 L14.978,46.463z\"><\/path><\/g><\/svg><\/div><\/nav><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"fyrstu-drog\">First draft<\/h2>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-palette-color-1-color has-alpha-channel-opacity has-palette-color-1-background-color has-background is-style-wide\" style=\"margin-top:var(--wp--preset--spacing--50);margin-bottom:var(--wp--preset--spacing--50)\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">The key to launching a business is planning, and the first and most important step in that process is creating a solid business plan for the company you intend to start. In a business plan, you describe the main elements of your idea and set clear goals for the business&#x27;s operations.\u00a0The business plan is also important because it forces you to do the math and can therefore prevent you from making disastrous mistakes that can occur when starting with a poorly thought-out business idea.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The business plan is your primary tool for laying the foundation for the company&#x27;s future and for securing funding for its operations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Before you and potential investors take on financial risk, it is important that all parties are confident that you know what you are doing, that your plans are well-thought-out, and that you can respond to any problems that may arise. A well-crafted business plan answers most of these questions and builds investor confidence in you.<\/p>\n\n\n\n<div class=\"wp-block-greenshift-blocks-accordion gs-accordion gspb_accordion-id-gsbp-9394a7b\" id=\"gspb_accordion-id-gsbp-9394a7b\" >\n<div class=\"wp-block-greenshift-blocks-accordionitem gs-accordion-item gspb_accordionitem-gsbp-03c1240 gsclose\" id=\"gspb_accordionitem-gsbp-03c1240\" itemscope><div id=\"gs-trigger-gsbp-9394a7b-0\" class=\"gs-accordion-item__title\" aria-expanded=\"false\" role=\"button\" tabindex=\"0\" aria-controls=\"gspb-accordion-item-content-gsbp-03c1240\"><div class=\"gs-accordion-item__heading\">Description of product and company<\/div><span class=\"iconfortoggle\"><span class=\"gs-iconbefore\"><\/span><span class=\"gs-iconafter\"><\/span><\/span><\/div><div aria-labelledby=\"gs-trigger-gsbp-9394a7b-0\" class=\"gs-accordion-item__content\" itemscope id=\"gspb-accordion-item-content-gsbp-03c1240\" ><div class=\"gs-accordion-item__text\" itemprop=\"text\">\n<p class=\"wp-block-paragraph\">The product and the company must be described clearly, including the company&#x27;s purpose, what the product is, and its main features and unique selling points. It is important to state where the company&#x27;s main revenue comes from, for example, whether it is through advertising sales or the sale of services. Choose a name for the project\/company and&nbsp;<a href=\"https:\/\/www.nmi.is\/is\/frumkvodlar\/stofnun_fyrirtaekis\">its corporate form.<\/a>&nbsp;It must also be stated who the company&#x27;s representative is, its employees, and who is responsible for what.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The project&#x27;s goals must be established, and they need to be timed and measurable so that progress can be evaluated at specific points in time.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-greenshift-blocks-accordionitem gs-accordion-item gspb_accordionitem-gsbp-a85e29f gsclose\" id=\"gspb_accordionitem-gsbp-a85e29f\" itemscope><div id=\"gs-trigger-gsbp-9394a7b-1\" class=\"gs-accordion-item__title\" aria-expanded=\"false\" role=\"button\" tabindex=\"0\" aria-controls=\"gspb-accordion-item-content-gsbp-a85e29f\"><div class=\"gs-accordion-item__heading\">Tools<\/div><span class=\"iconfortoggle\"><span class=\"gs-iconbefore\"><\/span><span class=\"gs-iconafter\"><\/span><\/span><\/div><div aria-labelledby=\"gs-trigger-gsbp-9394a7b-1\" class=\"gs-accordion-item__content\" itemscope id=\"gspb-accordion-item-content-gsbp-a85e29f\" ><div class=\"gs-accordion-item__text\" itemprop=\"text\">\n<p class=\"wp-block-paragraph\">Various tools and resources are available to help you create a business plan. You can download&nbsp;<a href=\"https:\/\/www.nmi.is\/static\/files\/Verkfaerakista\/Vidskipta_aaetlun\/pdf_efnisgrind_vidskipta_aaetlunar_med_studningstexta_pdf.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Outline of a business plan with supporting text<\/a>&nbsp;and also&nbsp;<a href=\"https:\/\/www.nmi.is\/static\/files\/Verkfaerakista\/Vidskipta_aaetlun\/word_efnisgrind_vidskipta_aaetlunar_an_studningstexta_word.doc\">Outline of a business plan without supporting text<\/a>&nbsp;where you can fill in your own text. On the NMI website, you can also find useful information regarding&nbsp;<a href=\"https:\/\/www.nmi.is\/is\/frumkvodlar\/markadsmal\">Marketing<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Regularly held&nbsp;<a href=\"https:\/\/www.nmi.is\/is\/frumkvodlar\/namskeid-og-fraedsla\">course<\/a>&nbsp;on the creation of business plans by the Icelandic Innovation Center.<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-greenshift-blocks-accordionitem gs-accordion-item gspb_accordionitem-gsbp-ab8dc80 gsclose\" id=\"gspb_accordionitem-gsbp-ab8dc80\" itemscope><div id=\"gs-trigger-gsbp-9394a7b-2\" class=\"gs-accordion-item__title\" aria-expanded=\"false\" role=\"button\" tabindex=\"0\" aria-controls=\"gspb-accordion-item-content-gsbp-ab8dc80\"><div class=\"gs-accordion-item__heading\">Target group \/ customers<\/div><span class=\"iconfortoggle\"><span class=\"gs-iconbefore\"><\/span><span class=\"gs-iconafter\"><\/span><\/span><\/div><div aria-labelledby=\"gs-trigger-gsbp-9394a7b-2\" class=\"gs-accordion-item__content\" itemscope id=\"gspb-accordion-item-content-gsbp-ab8dc80\" ><div class=\"gs-accordion-item__text\" itemprop=\"text\">\n<p class=\"wp-block-paragraph\">It is extremely important to identify who to sell the product\/service to, because without customers, there is no operational foundation for the business idea. The customer\/target group must be analyzed in terms of how to reach them, for example regarding their location, purchasing habits, lifestyle, age, gender, and other characteristic factors. It is also necessary to analyze the best way to distribute the product to customers, for example, by selling directly (in a physical or online store) or through intermediaries and retailers. Target market analysis is also part of&nbsp;<a href=\"https:\/\/www.nmi.is\/is\/frumkvodlar\/markadsmal\/#markadsaetlun\/\">marketing plan.<\/a><\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-greenshift-blocks-accordionitem gs-accordion-item gspb_accordionitem-gsbp-ca0d976 gsclose\" id=\"gspb_accordionitem-gsbp-ca0d976\" itemscope><div id=\"gs-trigger-gsbp-9394a7b-3\" class=\"gs-accordion-item__title\" aria-expanded=\"false\" role=\"button\" tabindex=\"0\" aria-controls=\"gspb-accordion-item-content-gsbp-ca0d976\"><div class=\"gs-accordion-item__heading\">The market and competition<\/div><span class=\"iconfortoggle\"><span class=\"gs-iconbefore\"><\/span><span class=\"gs-iconafter\"><\/span><\/span><\/div><div aria-labelledby=\"gs-trigger-gsbp-9394a7b-3\" class=\"gs-accordion-item__content\" itemscope id=\"gspb-accordion-item-content-gsbp-ca0d976\" ><div class=\"gs-accordion-item__text\" itemprop=\"text\">\n<p class=\"wp-block-paragraph\">What are the current market conditions for these products? Market size (number of customers, sales volume) and market characteristics (e.g., seasonal fluctuations in demand). It is also necessary to look to the future and determine the likely market development, whether it is growing, if any changes have occurred recently, etc.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It should be kept in mind that there is always some competition in the market, whether it is direct or indirect. The main competitors must be analyzed, as well as the level of competition in the relevant field, whether it is international, domestic, or regional.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When launching a new product, you need to examine what innovation it offers compared to what is already on the market. What is its unique selling proposition, and is there any competitive advantage? It&#x27;s a good idea to ask yourself, why should the customer choose this product over others? Does this company&#x27;s product offer any innovation beyond what is already on the market?<\/p>\n<\/div><\/div><\/div>\n\n\n\n<div class=\"wp-block-greenshift-blocks-accordionitem gs-accordion-item gspb_accordionitem-gsbp-cdb6154 gsclose\" id=\"gspb_accordionitem-gsbp-cdb6154\" itemscope><div id=\"gs-trigger-gsbp-9394a7b-4\" class=\"gs-accordion-item__title\" aria-expanded=\"false\" role=\"button\" tabindex=\"0\" aria-controls=\"gspb-accordion-item-content-gsbp-cdb6154\"><div class=\"gs-accordion-item__heading\">Calculation<\/div><span class=\"iconfortoggle\"><span class=\"gs-iconbefore\"><\/span><span class=\"gs-iconafter\"><\/span><\/span><\/div><div aria-labelledby=\"gs-trigger-gsbp-9394a7b-4\" class=\"gs-accordion-item__content\" itemscope id=\"gspb-accordion-item-content-gsbp-cdb6154\" ><div class=\"gs-accordion-item__text\" itemprop=\"text\">\n<p class=\"wp-block-paragraph\">There are several ways to determine the price of a product or service. You need to evaluate what the product&#x27;s price is based on, whether it&#x27;s based on competitors&#x27; prices, the costs involved in its production and\/or handling. Consideration must be given to how much the customer is willing to pay and whether, for example, pricing should vary by season.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Start-up costs and financing are something that must be accounted for in a business plan. For example, it may be necessary to invest in equipment and facilities.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A sales plan in a business plan is based on&nbsp;<a href=\"https:\/\/www.nmi.is\/is\/frumkvodlar\/markadsmal\/#markadsaaetlun\">marketing plan.<\/a>&nbsp;Assumptions about the volume sold in units over a specific period, the selling price, and the sales trend during the period must be presented in a clear and well-reasoned manner. The sales plan is aligned with the same period as the financial plans. It is most logical to present the sales forecast in a table format. The sales forecast will be the cornerstone of the operating plan, which is preferably a 3-year plan, showing plans for business development (growth) and reflecting the company&#x27;s objectives.<\/p>\n<\/div><\/div><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"stofnkostnadar-aaetlun\">Capital expenditure plan<\/h2>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-palette-color-1-color has-alpha-channel-opacity has-palette-color-1-background-color has-background is-style-wide\" style=\"margin-top:var(--wp--preset--spacing--50);margin-bottom:var(--wp--preset--spacing--50)\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">It is important to set up a capital expenditure plan before starting a business.\u00a0 It is essential to understand what it costs to implement an idea and how to bridge the gap until the business starts generating revenue. A startup cost plan is about listing the expenses incurred during the initial stages, and these costs will vary depending on the business idea.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Common cost items are as follows, but please note that this list is not exhaustive:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Preparation costs \u2013 creation of business plans, testing, gathering market information, search for investors and\/or partners.<\/li>\n\n\n\n<li>Development cost \u2013 the cost involved in bringing a product or service to a marketable form.<\/li>\n\n\n\n<li>Equipment and apparatus \u2013 this refers to any equipment and apparatus that must be purchased in order to begin operations.<\/li>\n\n\n\n<li>Facilities and furnishings \u2013 Consideration must be given to the setup of the facility, the work of tradespeople, furnishings, signage, and facility rental.<\/li>\n\n\n\n<li>Marketing Costs \u2013 This refers to the elements of the marketing plan related to the creation of branding, packaging, brochures, business cards, and other promotional materials needed before launching.<\/li>\n\n\n\n<li>Registration and licensing fees \u2013 various costs are associated with company registration and obtaining licenses (depending on the business activity).<\/li>\n\n\n\n<li>Various professional fees \u2013 for example, lawyers, auditors, and IT services.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"fjarhagsaaetlun-og-reiknilikon\">Budget and Calculation Models<\/h2>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-palette-color-1-color has-alpha-channel-opacity has-palette-color-1-background-color has-background is-style-wide\" style=\"margin-top:var(--wp--preset--spacing--50);margin-bottom:var(--wp--preset--spacing--50)\"\/>\n\n\n\n<p class=\"wp-block-paragraph\">Figure it out.<\/p>\n\n\n\n<div class=\"wp-block-file\"><a id=\"wp-block-file--media-8e167149-24f8-46d6-91a8-be956ef1ff55\" href=\"https:\/\/heklan.is\/wp-content\/uploads\/2025\/09\/greining-nullpunkt.xlsx\">analysis-nullpoint<\/a><a href=\"https:\/\/heklan.is\/wp-content\/uploads\/2025\/09\/greining-nullpunkt.xlsx\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-8e167149-24f8-46d6-91a8-be956ef1ff55\">Zero-point analysis<\/a><\/div>\n\n\n\n<div class=\"wp-block-file\"><a id=\"wp-block-file--media-8d51e657-e961-4bd5-b82b-aa62c9e12799\" href=\"https:\/\/heklan.is\/wp-content\/uploads\/2025\/09\/reiknilikan-26.06.2020.xlsx\">calculation-26.06.2020<\/a><a href=\"https:\/\/heklan.is\/wp-content\/uploads\/2025\/09\/reiknilikan-26.06.2020.xlsx\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-8d51e657-e961-4bd5-b82b-aa62c9e12799\">Calculation model<\/a><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"framkvaemdin-og-verkfaerin\">The process and the tools<\/h2>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-palette-color-1-color has-alpha-channel-opacity has-palette-color-1-background-color has-background is-style-wide\" style=\"margin-top:var(--wp--preset--spacing--50);margin-bottom:var(--wp--preset--spacing--50)\"\/>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"framkvaemdaaaetlun\">Action plan<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A more detailed breakdown of the work required to get the operation up and running and bring the product\/service to market. Establish a realistic estimate for the time required to complete individual tasks.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Various tools for creating business and operating plans<\/p>\n\n\n\n<div class=\"gspb_button_wrapper gspb_button-id-gsbp-53c7dae\" id=\"gspb_button-id-gsbp-53c7dae\"><a class=\"wp-block-greenshift-blocks-buttonbox gspb-buttonbox wp-element-button\" href=\"https:\/\/heklan.is\/wp-content\/uploads\/2025\/09\/pdf_efnisgrind_vidskipta_aaetlunar_med_studningstexta_pdf.pdf\" target=\"_blank\" rel=\"noopener\"><span class=\"gspb-buttonbox-textwrap\"><span class=\"gspb-buttonbox-text\"><span class=\"gspb-buttonbox-title\">Business Plan Outline Sample PDF<\/span><\/span><\/span><\/a><\/div>\n\n\n\n<div class=\"gspb_button_wrapper gspb_button-id-gsbp-c2ea4f2\" id=\"gspb_button-id-gsbp-c2ea4f2\"><a class=\"wp-block-greenshift-blocks-buttonbox gspb-buttonbox wp-element-button\" href=\"https:\/\/heklan.is\/wp-content\/uploads\/2025\/09\/word_efnisgrind_vidskipta_aaetlunar_an_studningstexta_word.doc\" rel=\"noopener\"><span class=\"gspb-buttonbox-textwrap\"><span class=\"gspb-buttonbox-text\"><span class=\"gspb-buttonbox-title\">Business Plan Word Template<\/span><\/span><\/span><\/a><\/div>\n\n\n\n<div class=\"gspb_button_wrapper gspb_button-id-gsbp-7e85581\" id=\"gspb_button-id-gsbp-7e85581\"><a class=\"wp-block-greenshift-blocks-buttonbox gspb-buttonbox wp-element-button\" href=\"https:\/\/heklan.is\/wp-content\/uploads\/2025\/09\/business-model-canvas-a3-2019.pdf\" target=\"_blank\" rel=\"noopener\"><span class=\"gspb-buttonbox-textwrap\"><span class=\"gspb-buttonbox-text\"><span class=\"gspb-buttonbox-title\">Business Model Canvas PDF<\/span><\/span><\/span><\/a><\/div>\n\n\n\n<div class=\"gspb_button_wrapper gspb_button-id-gsbp-ab92881\" id=\"gspb_button-id-gsbp-ab92881\"><a class=\"wp-block-greenshift-blocks-buttonbox gspb-buttonbox wp-element-button\" 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