Do You Need a Business Plan? Scientific Research Says Yes

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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.

An Overview of Lean Business Planning

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A lean business plan does what every business owner and aspiring startup needs to manage strategy, tactics, execution, and essential business numbers. It stays lean and simple with just bullet points for essentials and a collection of lists and tables.

What Is a Business Plan?

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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?

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.

Solopreneurs Can Grow Faster and Smarter With a Lean Business Plan

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You’ve made the decision to strike out on your own as a solopreneur to start the business you have been dreaming of for months, or even years. Though you may be tempted to immediately throw yourself into your new small business, don’t forget a crucial element: creating a business plan.

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Lean Business Planning with Tim Berry [VIDEO]

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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.

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.

How to Write a One-Page Business Plan

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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.

8 Common Business Plan Mistakes

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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.

A Standard Business Plan Outline [Updated for 2017]

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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.

How to Get the Most Out of a Sample Business Plan

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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?

How to Write a Business Plan for a Cannabis Company

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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.

Lean Business Planning with Tim Berry [FREE Webinar]

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What do you want from your business? That’s what lean business planning is all about. It’s not just a plan, but rather an ongoing management process. The post Lean Business Planning with Tim Berry [FREE Webinar] appeared first on Bplans Blog.

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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.

Episode 9: Lean Business Planning with Tim Berry | The Bcast

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This week Peter and Jonathan talk to Tim Berry, founder of Palo Alto Software, about lean business planning, strategy, tactics, specifics (milestones), and the forecast. Listen to Episode 9: Show notes: What is Lean Planning? What’s the lean mean?

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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.

Lean Startups Need Business Planning Too

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My monthly column at Entrepreneur.com, Lean Startups Need Business Plans Too , came out yesterday: But here’s my beef in a nutshell: When Ries and Blank criticize the business plan, they are talking about a now-obsolete approach: the formal written business plan.

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

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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?).

The History of Lean Planning

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Lean Planning is a concept that we introduced back in 2012 as an evolution in business planning. The traditional business plan just wasn’t fitting the needs of modern, fast-moving companies and it was time to bring more of a scientific approach to business planning.

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How to Write a Business Plan in Under an Hour

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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.

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.

What Type of Business Plan Do I Need?

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Unsure what kind of business plan you need? And also, what real business owners want—lean business plans for better management. In this article, we’re going to help you figure out which plan is the one for you. Startup plan.

The Management Magic of Business Planning

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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.

6 Business Idea Validation Tactics to Improve Your Business Planning

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In the Lean Startup methodology, one of the most important elements is getting out of the building. 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.

Why Even Lean Startups Need a Business Plan

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No strategy is ‘one size fits all,’ and all entrepreneurs should take the necessary steps to plan ahead and build a foundation for where their business is heading. Business Planning bootstrapping lean startups

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Business Planning Makes You More Successful, and We’ve Got the Science to Prove It

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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.

The Lean LaunchPad Online

Steve Blank

You may have read my previous posts about the Lean LaunchPad class taught at Stanford , Berkeley, Columbia , Caltech and for the National Science Foundation. I wondered if business plans and 5-year forecasts were the right way to plan a startup.

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Why You Should Update Your Business Plan Regularly to Drive Growth

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My business was in a highly competitive industry, rated as one of the best industries to start a new business in. Around 58 percent of businesses in the insurance sector survive longer than four years. It was like my business came to a halt. Keep your business plan alive.

Is the Lean Startup Dead?

Steve Blank

A version of this article first appeared in the Harvard Business Review. But NewTV doesn’t plan on testing these hypotheses. With fewer than 10 employees but almost $2-billion dollars in the bank, they plan on jumping right in. It’s the antithesis of the Lean Startup. Startups wrote business plans, generated expansive 5-year forecasts and executed (hired, spent and built) to the plan. The Rise of the Lean Startup.

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How to Map Out an Ecommerce Business Plan in 1 Hour

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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.

Blowing up the Business Plan at U.C. Berkeley Haas Business School

Steve Blank

Berkeley Haas Business School is a leader in entrepreneurship education. It has replaced how to write a business plan with hands-on Lean Startup methods. Berkeley in 2010 to run the Lester Center for Entrepreneurship in the Haas School of Business we were teaching entrepreneurship the same way as when I was a student back in 1995. The final deliverable for that class was a 30-page business plan. We had multiple business plan competitions.

The Business Plan. Redux.

crowdSPRING Blog

It has been some time since I last discussed business plans in these blog pages and I thought it might be time for an update. When I look back at that time, I question whether writing that plan was really the best approach for us. Lean Marketing tips: not-for-profit edition.

Top 10 Benefits Of Lean

YoungUpstarts

Lean is a methodology that can be applied to all disciplines of knowledge work to increase business efficiency, agility, and visibility. Lean is more about aligning your organization’s skills, talents, resources, processes, and strategy with the needs of your customers.

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How to Tell Your Company’s History in Your Business Plan

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Company history in a business plan? Yes, it’s a good addition to some business plans, but not all. For this article, I want to look at how to decide whether or not you include company history, and if you do, what to include and where to put it in the plan.

Introducing Lean Planning: How to Plan Less and Grow Faster

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This article is part of our Business Planning Guide —a curated list of our articles that will help you with the planning process! Today, I want to introduce a new approach to business planning: Lean Planning. It’s time to fix the business plan.

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How to Write a Business Plan for a Subscription Box Service

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But with so many people trying to get their share of the growth, many subscription box businesses fold within a year or two. There are several different types of business plans that can help you stay on track. Marketing and sales plan. Financial plan. Future plans.

Free Reprints of “Why the Lean Startup Changes Everything”

Steve Blank

The Harvard Business Review is offering free reprints of the May 2013 cover article, “ Why the Lean Startup Changes Everything “ Available here.

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How and Where to Write About Technology in Your Business Plan

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Often, a business plan introduces a new technology that requires some explaining. On one hand, as a reader of business plans for investors, I see way too many business plans that ask a reader to wade neck-deep through technology to get to the business.

Are Business Plans Still Necessary?

Both Sides of the Table

Many of these businesses were what First Round Capital called FNACs (features, not companies – this acronym has always stuck with me). Someone remind me to do a future post on why I think the Ramen Profitable approach has actually hurt some businesses.

Lean Planning: A Curated List of Our Best Content

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When it comes to business planning, unless an investor has asked you to provide a formal business plan, we recommend writing a Lean Plan instead—it’s faster, more flexible, and will remain relevant throughout the life of your business.

How to Write About Sourcing and Fulfillment in Your Business Plan

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A traditional business plan includes a section that describes the business offering, which is the product or service. See Also: How to Write a Business Plan. Fulfillment also applies to assembly, packaging, and shipping for online product businesses.

How to Write a Business Plan for an Outpatient Medical Practice

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Private practices can be lucrative, although it requires you to spend time building relationships with patients while also attending to all business processes that are part of running your practice. There are a few different types of business plans , depending on how you intend to use it.

Free Reprints of “Why the Lean Startup Changes Everything”

Steve Blank

The Harvard Business Review is offering free reprints of the May 2013 cover article, “ Why the Lean Startup Changes Everything “ Available here.

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