How To Write Out A Business Plan

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Business plans have long been a critical document for new businesses. If so, what best practices and data can help you create a winning document that will help your business get the funding you need and ensure your venture lasts?

A decade ago anyone you approached with a business idea without a plan would have laughed and shooed you away.

You should have a plan in order to get yourself organized, to ensure you have some type of viable commercial potential, you have focus and hopefully aren’t going to run out of money or starve before you get going.

If that’s all you need, and you don’t plan to raise money, apply for loans and don’t intend on bringing in partners, then you certainly don’t need a 25lb manuscript. In fact, Brian Chesky (found of Airbnb) is famous for his one-page business plan for global domination.

Before deciding exactly what that looks like and how to create it, there are some critical questions to answer and factors to understand.

Just because it is the status quo should never be a line in the vocabulary of a startup founder today.

Harvard Business Review (HBR) says “the real key to succeeding in business is being flexible and responsive to opportunities.

Entrepreneurs often have to pivot their business once it becomes clear that their original customer is not the right customer, or when it turns out that their product or service fits better in an alternate market.

There are plenty of great freelancers available online who can help handle time intensive parts of the process like research and formatting, and interactive pro-formas.

There are even templates you can plug in and print so you don’t waste time figuring out what to include.

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