Software with "follow the bouncing ball" instructions for business plans can serve the same role as online accounting services because, in each case, you rely on specialists to walk you through the process. So, when we lack expertise, we should ask for help. One plan taught me that I didn't have what it took to pull off that project and the other plan got my startup business accepted by a VC conference. In my pre-journalistic life, I wrote two in-depth business plans. It's hard to express your product's unique selling points, analyze competitors' strengths and weaknesses, and back up your assertions about why you need this much money. In all of these cases, the business owner has to do something that can be scary: become a business document management expert by creating a structured document (that is, a business plan) with lots of numbers and compelling prose, with the awareness that this pitch is make-or-break for the company's vision. A business plan can also be the most concrete way to get everyone's agreement on "This is what we're doing, right?!" Keeping the plan updated as the business matures is an easy way of measuring success. That is, you want a bank loan, VC funding, or other help to get your startup off the ground. So, people write business plans in order to acquire funding or to document the company's intended direction. Business plans help you talk about yourself, explain your strengths, and ask for money to back up your idea. A business plan tells others how you will get customers and clients, who will run the business, and how early-stage venture capital (VC) will be raised. This will help you attract the right people and resources to implement your idea. Going from random napkin-notes to an organized, thorough plan to get your business started, funded, and generating revenue for the foreseeable future can be a mammoth undertaking, especially for beginners and even more so for people trying to go it alone.įortunately, there's plenty of help if you know where to look, especially if what you really need is a written business plan that simply communicates a clear vision. That's because the next step can be both difficult and labor-intensive, namely writing a coherent business plan. Many great businesses started with these same events, but millions more never got beyond them.
The slew of initial ideas hastily scribbled on napkins or perhaps simply forgotten entirely. Many of us have been there: That sudden epiphany in the shower or at a bar chatting with friends.
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