article thumbnail

10 Key Business Plan Elements Not In A Product Spec

Startup Professionals Musings

As an advisor to new hardware entrepreneurs, I often hear the myth that a business plan is no longer required to find an investor, if your idea is good enough. You may have heard that venture capitalists in Silicon Valley no longer read business plans. Description of the business entity you plan to form.

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. Personnel plan : Costs of employees.

Insiders

Sign Up for our Newsletter

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

article thumbnail

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? In its simplest form, a business plan is a guide—a roadmap for your business that outlines goals and details how you plan to achieve those goals.

article thumbnail

Why Good Marketing Campaign Costs Continue To Rise

Startup Professionals Musings

Every time I challenge a business plan with little or no budget for marketing, I get the answer that they will be using “viral” marketing, which costs nothing. Viral marketing is a deliberate marketing action, designed to grow attention at a compound rate, without further stimulus, by word-of-mouth. Develop viral content.

Campaign 167
article thumbnail

I Haven’t Seen A Startup Yet Thrive Without Marketing

Startup Professionals Musings

Every time I challenge a business plan with little or no budget for marketing, I get the answer that they will be using “viral” marketing, which costs nothing. Viral marketing is a deliberate marketing action, designed to grow attention at a compound rate, without further stimulus, by word-of-mouth. Develop viral content.

Viral 348
article thumbnail

How to Write a Business Plan

Up and Running

You’ve reviewed what a business plan is , and why you need one to start and grow your business. It’s time to dig into the process of actually writing a business plan. In this step-by-step guide, I’ll take you through every stage of writing a business plan that will actually help you achieve your goals.

article thumbnail

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. Of course, there are obvious reasons that business plans fail.