Do You Need a Business Plan? Scientific Research Says Yes

Up and Running

Should you spend some time developing a plan for your business, or just dive in and start, figuring things out as you go? There has been plenty of debate on this topic, but no one has pulled together the scientific evidence to determine if planning is worthwhile—until now.

What Is a Business Plan?

Up and Running

This article is part of our “ Business Planning Guide “ —a curated list of our articles that will help you with the planning process! What is a business plan? How to choose the right kind of business plan. What is a business plan?

8 Common Business Plan Mistakes

Up and Running

This article is part of our Business Planning Guide —a curated list of our articles that will help you with the planning process! What are the most common mistakes when writing a business plan ? Unless the bank or the investors want a plan, there is no plan.

10 Venture Realities Will Position Your Business Plan

Startup Professionals Musings

If you are one of the new age of entrepreneurs who hates the thought of doing a business plan as a first step in starting your new venture you will love this message. In that context, it could be a social enterprise, or even a hobby, and a business plan may not be beneficial.

How to Write a Business Plan for a Cannabis Company

Up and Running

One of our Bplans writers described going into business in cannabis as a “ once-in-a-generation opportunity ,” with the product rapidly becoming legal for recreational as well as medical use in many states. You can choose from a few different types of business plans depending on your needs.

Why Every Business Needs A Business Plan

YoungUpstarts

When you start a new business one of the first things you need to do is write a business plan. Although it may seem unnecessary, a good business plan can really help you get where you want to go in your business a lot more quickly than if you didn’t have one.

Startups Without Business Plans Are Expensive Hobbies

Startup Professionals Musings

If you sold your last startup for $800 million, you probably already know how to build a business, and even conservative investors won’t worry about the quality of your next business plan. Most investors tend to think of startups without a plan as expensive hobbies.

How to Write a One-Page Business Plan

Up and Running

If you’ve been putting off writing your business plan, you’re not alone. Writing a business plan can seem like a daunting task, and lots of entrepreneurs avoid it for this reason. Some people like to call this your “business model canvas,” but it’s really the same thing.

6 Situations Where A Business Plan Does Not Add Value

Startup Professionals Musings

Writing a business plan is hard work, so I get lots of pushback from prospective new venture founders that it’s just a waste of their valuable time in this rapidly changing environment. They all claim to have the plan in their head, and writing it down will only slow down their success.

Business Plans Are An Historical Artifact

Feld Thoughts

This article ( Business Plans Are An Historical Artifact ) first appeared last week in the Wall Street Journal The Accelerators Column , which I’m contributing to on a regular basis. . In 1987 when I started my first company (Feld Technologies), I wrote a business plan for a course at MIT that I was in called 15.375: New Enterprises. I went on to create a company, with my partner Dave Jilk, that bore very little resemblance to that business plan.

6 Mistakes to Avoid When Writing Your Restaurant Business Plan

Up and Running

If you’re serious about opening a restaurant, you’ll have to draft up a formal and accurate business plan to pitch to banks, investors, and even potential employees. I won’t lie—writing a formal business plan isn’t exactly a breeze. See Also: Business Planning Guide.

7 Mistakes To Avoid When Writing A Business Plan

YFS Magazine

A business plan is a very important business tool to have as an entrepreneur. When you write your business plan, avoid making these 7 common mistakes. This article 7 Mistakes To Avoid When Writing A Business Plan appeared first in YFS Magazine.

An Overview of Lean Business Planning

Up and Running

A lean business plan does what every business owner and aspiring startup needs to manage strategy, tactics, execution, and essential business numbers. It’s a set of ideas that started about 70 years ago, revolving around PDCA: plan-do-check-adjust.

A Perspective On When A Business Plan Adds Value

Startup Professionals Musings

As a startup mentor and investor, I am approached regularly by aspiring entrepreneurs who assert that business plans are a waste of time. They cite sources like the BusinessWeek story, “ Real Entrepreneurs Don’t Write Business Plans ” and this Forbes article.

The Different Types of Business Plans

Up and Running

Business plans go by many names: Strategic plans, operational plans, internal plans, and many others. Lately, I’ve been focusing on lean business plans. There are also one-page business plans, although those are really more summaries.

Why Your Tiny Startup Needs A Business Plan

YoungUpstarts

You might be thinking that a business plan doesn’t make any sense for your small new enterprise. After all you are not planning on trying to get even a bank loan, let alone venture capital. Isn’t that what business plans are really for anyway: raising money?

Formatting a Business Plan: Best Practices

Up and Running

Your business plan should accomplish certain goals: raise money, guide your team, and set strategies for growth. The format of your business plan will help you achieve these goals, so it’s important to think about the plan’s structure as you build it.

10 Startup Priorities May Negate The Business Plan

Startup Professionals Musings

If you are one of the new age of entrepreneurs who hates the thought of doing a business plan as a first step in starting your new venture you will love this message. In that context, it could be a social enterprise, or even a hobby, and a business plan may not be beneficial.

How To Quickly Create A Great Business Plan

YoungUpstarts

You know you need a business plan if you want funding. And you know you should have and follow a plan to grow your business. But oftentimes creating a business plan takes too long. Below are some tips to help you complete a great business plan faster: 1.

8 Reasons Business Plans Fail That No One Wants to Talk About

Up and Running

As a full-time editor and academic mentor at an academic writing service, I have read hundreds of business plans over the years. To help students and startups, I have compiled a list of reasons business plans are rejected or given a low grade. Bad business ideas.

Keep Your Business Plan Succinct Yet Impressive

Startup Professionals Musings

If you want people to invest in your idea, then my best advice is first write a business plan, and keep it simple. Don''t confuse your business plan with a doctoral thesis or the back of a napkin. Keep the wording and formatting straightforward, and keep the plan short.

How to Get the Most Out of Your Business Plan Writing Service

Up and Running

Starting your own business is an amazing journey and one of the most empowering, positive decisions you can make. That’s the moment when many entrepreneurs realize that getting the help of a professional business plan writer can take their business concept from daydream to day job.

How to Map Out an Ecommerce Business Plan in 1 Hour

Up and Running

Every successful ecommerce business needs to begin with a plan. Plus, research shows that people who plan are more likely to be successful. The first step, therefore, is to fill in the details and create a structured approach for launching your online business.

No Business Plan Survives First Contact With Customers. 2 Minutes to See Why

Steve Blank

If you can’t see the video click here Filed under: Business Model versus Business Plan , Customer Development. Business Model versus Business Plan Customer Development

Resources for Entrepreneurs Writing a Business Plan

Up and Running

Writing a business plan can seem intimidating. You’re committing your great idea to paper and fleshing out the details of how you’re actually going to start and grow your business. A one-page pitch is a simple overview of your business.

Is business planning pointless?

Up and Running

It’s a common refrain these days, voiced by “experts” and busy entrepreneurs: business plans and business planning are pointless. There’s clearly no point in planning… On the surface, it’s easy to agree. Business Planning

10 Reasons Not To Write A Business Plan First

Startup Professionals Musings

If you are one of the new age of entrepreneurs who hates the thought of doing a business plan as a first step in starting your new venture you will love this message. In that context, it could be a social enterprise, or even a hobby, and a business plan may not be beneficial.

Tips for Writing a Successful Business Plan for a Daycare Center

Up and Running

Working out a business plan for your daycare center can be a challenge. As someone who owns eight successful daycares in the Chicago area, I know the strategies and approaches that work when it comes to developing a sound business plan for a daycare center.

Why Startup Product Plans Make Poor Business Plans

Startup Professionals Musings

Most technical entrepreneurs I know demand the discipline of a product specification or plan, and then assume that their great product will drive a great business. In reality, you need both, to clarify for yourself and team that you have a viable business solution.

The Management Magic of Business Planning

Up and Running

True story: As my software business began to grow, as we went from two employees to five, then 10, I discovered how hard real management is with startups and small business that grow organically. See Also An Overview of Lean Business Planning.

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

Up and Running

Most people think of the business plan as a one-time event, something used to accomplish a specific goal—getting funded, usually. How you format your plan will depend on what your needs are. Describe your business in one sentence (what do you do, and who do you do it for?).

Four Factors You Need To Include In Your Business Plan

YoungUpstarts

A solid business plan will help you identify the goals you have for your business and make it easier to make decisions about which path to take when there are multiple options ahead of you. Jobs can be lost, or business shutdown if security isn’t taken seriously.

The Science of Success Through Business Planning

Up and Running

If you’re seeking funding or looking to start a business, you need a business plan. The business plan isn’t just a document you create to get investors to dish out the dough. This is why you MUST write a business plan. Companies that plan, grow.

Developing a Business Plan for Strategic Growth

Up and Running

The business plan for strategic growth is one of my favorites because it’s about core business decisions, steps, metrics, and making things happen. It matches my vision of business planning as ongoing management and steering a business.

Lean Business Planning with Tim Berry [VIDEO]

Up and Running

We recently had Tim Berry, Palo Alto Software founder and business planning expert, present our Bplans audience with his latest advice on lean business planning. Start your lean business plan today: Download our Free Lean Plan Template one-page-pitch-download.pdf.

How Many Entrepreneurs Really Need a Business Plan?

Startup Professionals Musings

On a regular basis, I am approached by entrepreneurs who assert that business plans are a waste of time. They cite sources like a recent BusinessWeek story, “ Real Entrepreneurs Don’t Write Business Plans ” and this NY Times article.

How to Write a Nonprofit Business Plan

Up and Running

Starting and running a nonprofit is an exhilarating experience, but it also requires thoughtful planning and execution to be successful. Nonprofit organizations share many overlapping needs with traditional for-profit ventures, including the need for a good business plan.

These 10 Key Elements Make a Business Plan Fundable

Startup Professionals Musings

People ask me if they really need ANY business plan, unless they are looking for an outside investor. In fact, a business plan is needed more by you than investors, as the blueprint for your company, team communication, and progress metrics. Explain the business model.

5 Business Plan Secrets For A Successful Tech Startup

YoungUpstarts

. Making the decision to break the mold and start a business is an exciting step, but building a successful company is a challenging endeavor. In no small way, the success of your venture will depend on the details of your business plan. Develop a comprehensive marketing plan.

How to Write a Business Plan in Under an Hour

Up and Running

Most people think that writing a business plan has to be hard. In fact, it’s possible to write your initial business plan in less than an hour. See Also What Type of Business Plan Do I Need? A new kind of business planning.

Ten Top Investor Turnoffs Around Business Plans

Startup Professionals Musings

Many VC firms and investment banks receive as many as ten plans per day, so it’s hard to get them salivating. You can bet that if he ever sees a real business plan from you, it will go to the bottom of the pile. Send the plan without a summary. The base plan is a book.

6 Business Idea Validation Tactics to Improve Your Business Planning

Up and Running

In this article, I’ll give a quick overview of the best practices for validating your business idea in use today. See Also: Our Best Resources to Help You Find a Business Idea. Idea validation and Lean Planning. See Also: The History of Lean Planning.

10 Tips to the Simplest But Effective Business Plan

Startup Professionals Musings

If you want people to invest in your idea, then my best advice is first write a business plan, and keep it simple. Don't confuse your business plan with a doctoral thesis or the back of a napkin. Keep the wording and formatting straightforward, and keep the plan short.