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.

10 Business Plan Tips Too Many Entrepreneurs Forget

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.

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.

3 Elements Of Business Planning Drive Future Success

Startup Professionals Musings

Your business can’t be all things to all people, and excel at anything. Every entrepreneur and every business needs a strategy to keep them focused. Van Den Berg and Pietersma point out that strategic planning no longer works as a static event that occurs once a year.

Clothing Retail Sample Business Plan

Up and Running

If you’re writing a business plan for your clothing retail business, it can be helpful to start by looking at a sample business plan to help you get a sense of what to include in each section. What should you include in a clothing retail business plan?

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.

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?

How to Write a Restaurant Business Plan + Example Templates

Up and Running

If you’re starting a restaurant, you already know that it’s a risky business. Because of the risk and the amount of money involved, writing a business plan for a new restaurant is even more important than it might be in other industries. Financial Plan.

Tools and Resources to Help You Write Your Business Plan

Up and Running

Working on writing your business plan and looking for some tools or resources to make it easier? Some people just want to see a sample business plan , so they can copy the outline, or topics covered, or style, putting in their own content of course. .

How To Avoid Death By Business Plan

YoungUpstarts

That beautifully written, meticulously mapped-out business plan might be the problem. Ask any MBA instructor what you need to get an idea off the ground, and you’ll probably be told to create a business plan. Setting out without any kind of game plan can lead to chaos.

How Long Should a Business Plan Be?

Up and Running

Don’t make your business plan longer than necessary, and think about the reason you’re writing the plan in the first place. You’re probably going to want to revise your plan regularly, and the shorter your plan is, the more manageable that process will be.

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.

Hair and Beauty Salon Sample Business Plan

Up and Running

Looking for a free, downloadable hair and beauty salon sample business plan to help you create a business plan of your own? Keep in mind that you don’t need to find a sample business plan that exactly matches your business.

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.

Create a Business Plan for Fewer Hassles and Faster Growth

Up and Running

Writing a business plan can help make sure Office Space doesn’t feel relatable [ source ]. If you’re coming up with a business plan for a new venture, there’s a good chance you can relate to this scene. Business planning reduces hassles and friction.

Why SWOT Analysis Belongs in Your Business Plan

Up and Running

Why add a SWOT analysis into your business plan and the strategic planning process? I believe in it because the SWOT phase was vital to my planning process as I grew Palo Alto Software from zero to over $5 million in annual sales. Gain real, actionable business insights.

Fast Food Restaurant Sample Business Plan

Up and Running

Looking for a free, downloadable restaurant sample business plan ? This particular plan was created for a fast food restaurant, but keep in mind that you don’t need to find a sample business plan that exactly matches your business for it to be useful. .

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.

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.

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.

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 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.

Celebrate National Write a Business Plan Month in December

Up and Running

Did you know that December is National Write a Business Plan Month? If you’ve been putting off writing your business plan—there’s not enough time, the financials are too complicated—it’s not too late to cross it off your list before the new year. Financial plan resources.

A Standard Business Plan Outline [Updated for 2017]

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! Start from the very beginning understanding that your business plan ought to be specific to your business needs and objectives.

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.

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.

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.

Writing Your Business Plan: Seven Essential Steps You Should Know

YoungUpstarts

If you’re planning on starting a business, you need a business plan. A good business plan will help to keep your company on track and guide it in the right direction, and it will also help you to secure funding from banks, venture capitalists and other investors.

How to Get the Most Out of a Sample Business Plan

Up and Running

The basic idea of a sample business plan makes perfect sense. If you haven’t done a business plan before, a sample plan gives you an instant idea of what you should include, how to structure it, and even what to write. What is a sample business plan?

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

8 Reasons Having a Business Plan Is Important for Small Businesses

Up and Running

Do you really need a business plan? Can’t you just wing it and skip the whole planning process? If you’re asking a bank, angel investor, or venture capitalist for funding, they’re going to want to know that you have a good handle on your small business’s trajectory. .

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.

Entrepreneurs Confuse Product and Business Plans

Startup Professionals Musings

Why is it that most of the business plans I see are really product plans? I define a product plan as a detailed description of your product or service, with a bit of business thrown in at the end. It’s definitely positive to have a product plan.

How to Do Cannabis Cultivation Business Planning for Growth

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Developing a cannabis cultivation business requires significant planning, dedication, and focus. Initially, you’ll need to develop a solid plan to provide a steady direction for the project. You’ll follow these simple steps: Create a Business Plan. Plan for delays.

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.

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.

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.

Business Plan Writers - Know Your Audience

Startup Professionals Musings

By Mahesh Raj Mohan Writing a business plan can be a difficult process. you still have to write the plan for a particular audience. A loan officer, angel investor, and venture capitalist are all looking for different things in a 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.

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.

A Business Plan is for You First, Then for Investors

Startup Professionals Musings

Every investor I know is frustrated with the poor quality of the business plans they get. This is sad, since “how to write a business plan” is a frequent topic found in every business journal, and a common title in the business section of every book store.

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.

How to Write a Top-Notch Business Plan for Your Startup

The Startup Magazine

Many people dream of setting up their own business. However, these people often fail at the execution because they don’t properly plan for their startups. Developing a business plan also gives you the chance to get feedback on it and make use of some much-needed advice.