Business Plan
Description
A business plan is a comprehensive document that outlines a company's goals and strategies for achieving those goals. It typically includes a detailed analysis of the market and competitors, as well as financial projections and a description of the company's products or services. A business plan is often used to secure funding from investors or to guide the company's growth and development.
A typical business plan includes the following sections:
- Executive summary - a brief overview of the company's goals and strategies
- Market analysis - a detailed analysis of the market and competitors
- Products or services - a description of the company's products or services and how they will be marketed
- Marketing and sales - a plan for how the company will market and sell its products or services
- Management and organization - a description of the company's management team and organizational structure
- Financial projections - a detailed financial analysis, including projected revenue, expenses, and profits
- Funding request - if applicable, a request for funding from investors or lenders
- Appendices - supporting documentation, such as resumes, market research, and legal documents.
Frequently Asked Questions
A business plan is important because it provides a roadmap for the company's growth and development. It helps the company's management team and investors to understand the company's goals, strategies, and financial projections for the future.
A business plan should include a detailed analysis of the market and competitors, a description of the company's products or services, a plan for how the company will market and sell its products or services, a description of the management team and organizational structure, and financial projections.
A business plan is typically used by the company's management team to guide the company's growth and development. It is also used by investors and lenders to evaluate the company's potential for success and to make funding decisions.
Google - Larry Page and Sergey Brin wrote a business plan for what would become Google while they were still graduate students at Stanford University.
Airbnb - founders Brian Chesky and Joe Gebbia created a business plan for their home-sharing platform in 2008.
Uber - co-founders Travis Kalanick and Garrett Camp developed a business plan for their ride-sharing service in 2009.
Further Reading Materials
"Business Model Generation" by Alexander Osterwalder and Yves Pigneur
"The Lean Startup" by Eric Ries
"The Art of the Start 2.0" by Guy Kawasaki
"Business Plans That Get Investment" by David Bateman and Heidi Neck
"The Startup Owner's Manual" by Steve Blank and Bob Dorf
