“I didn't have time to write you a short letter, so I wrote you a long one" - Mark Twain
The ability to refine an idea & distill down a strategy into just a few words takes time. Throwing down buzzwords is easy, finding clarity is difficult.
Stick to one page
A graduate business school favourite & one of the most powerful business plan templates out there.
Highly adaptable to any industry, clearly shows trade-offs & is designed for all elements to align to the overall vision.
Link: alexandercowan.com/business-model…
Modified from the Business Model Canvas with a strong emphasis on optimizing start-ups.
Both the lean canvas or business model canvas are great tools to settle on a business plan within an afternoon. Pick one & start.
Link: leanstack.com/leancanvas
A pitch deck will have forecast financials, address questions on hurdles and target securing funding.
There will definitely be some overlap.
Your business plan needs to be brutally honest. Don't word anything softly.
Give yourself 30 seconds to translate the problem you;re solving. This sounds easy - it's probably the hardest part of developing a business plan
You only realize what your game plan is when you're speaking to a stranger
You have a better grip on the vision better than anyone else. You need to be in FULL control of the strategic direction upfront
Better to have your plan professionally reviewed by someone you trust once you're done with it
There are MANY tools, plug-ins, third party services dedicated to solving your weak spots. In many cases it's cheaper to use them instead.
Focus on what gives you an edge. Investors buy into your unique traits. Sell your strengths hard.
Don't float around your business plan wider than it needs to travel. Make sure you apply for the relevant trademarks, patents and licenses.
Throughout history great ideas have been copied. Make sure your hard is preserved and protected.
Just in case this ends up being misconstrued...