Remove Balance Sheet Remove Business Model Remove Hiring Remove Lean
article thumbnail

How to Think About (and Reduce) Risk When You’re Starting Your Own Business

Up and Running

Before you can start a company, you need a business idea. Unless you have invented something revolutionary, stick with a business model that involves something you are passionate about and do it better than anyone else. So what you can you do to reduce the risk of starting your own business? Write a Lean Business Plan.

Lean 93
article thumbnail

How to Write a Business Plan for a Cannabis Company

Up and Running

Write your business plan and develop your business model with this in mind so you can avoid these issues. . You can choose from a few different types of business plans depending on your needs. If you’re seeking investment, you need a traditional business plan. Hiring plans. Be specific. Company overview.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Write a Business Plan: Use This Checklist to Keep Yourself on Task

Up and Running

If investors request a traditional plan, you will want to follow the standard business plan outline below. If you’re creating a plan to manage your business once you’re up and running, a Lean Plan will suit you best. If you’re simply trying to validate a business idea, you’ll use the One-Page Pitch format.

article thumbnail

How to Write a Business Plan for an Outpatient Medical Practice

Up and Running

A Lean Business Plan might be a better fit if you simply need to think through all the different aspects of your business. A Lean Plan will be shorter, and it lends itself to quick revisions, but both types follow the same general outline. First, your business plan laid out the opportunity at hand. Be specific.

article thumbnail

How to Write a Convincing Business Plan for Investors

Up and Running

Beyond understanding your business strategy, investors will also want to understand your financial forecasts. They want to know how your business will function from a financial standpoint — what is typically called your “ business model.” If you have gaps and still need to hire key employees, that’s OK.

article thumbnail

How a Medical Private Practice Business Can Overcome Obstacles to Success

Up and Running

Set out to run a profitable business. If I could change one thing about our society’s view on service-based business models related to healthcare, it would be the notion that private healthcare practices operating as successful and profitable businesses runs contrary to their mission. Hire the best staff you can find.

Metrics 88
article thumbnail

How to Write a Business Plan for a Subscription Box Service

Up and Running

If you’re seeking a bank loan or outside investment, you probably need a traditional business plan. But if you’re writing a plan as an internal guide for strategic growth, you should consider a lighter version— a Lean Plan. This guide to writing a subscription box business plan will help you through the process either way.