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Thursday, March 12th, 2021

The Fomula Student competitions are characterised by two types of tests: dynamic tests and static tests. That is why during the year, all of them are worked on, developed and practised so that when the designated day arrives, the best possible results are obtained. Next, we will explain how from EUSS MotorSport we are facing one of these static tests, more specifically the creation of the business plan.

To begin with, this test consists of defining a business idea to be implemented in reality. This concept has to go around the formula. In other words, it consists of creating a business plan based on the car. It must include aspects such as a market analysis, an HR plan, a marketing plan, a financial plan, among other things. In short, starting from the premise or initial idea, an internal and external analysis has to be carried out to see its viability. There are many support tools that can be useful, such as Porter's Diamond, a SWOT or a Pestel, among other methodologies.

Going into more detail, our team decided to create a committee to be in charge of developing it. It is made up of members from different departments who aspire to learn more about this subject. In short, it is made up of members who want to delve more deeply into this concept. All the members are studying something related to a business plan and that's why the interest and involvement is increasing exponentially. In addition, this working group is supported as advisors by the EMotor group, which is always ready to help us when we need it.

Once it was created, the next step was to start working around it, which is where we are now. In other words, today we have a first outline of our business plan and that is why the next steps are to continue working and giving shape to this idea. As a result, we are meeting every fifteen days to present our progress and to see the future roadmaps so that we have an excellent project.
In short, we are starting to work on this static test, which we are very eager to face and make the most of, as it is rare that an opportunity as good as this one comes along, where judges analyse and evaluate a business plan, and that is why we will continue to put all our determination, enthusiasm and interest into it.