Business Plans

News and Articles About Business Plans

When Is the Best Time to Write Your Business Plan?
Starting a Business

When Is the Best Time to Write Your Business Plan?

You don't need to drop everything to put together a business plan. Instead, it should be a constant work-in-progress. Here's how.
Tim Berry
10 Questions to Ask Before Quitting Your Job to Start a Business
Startup Basics

10 Questions to Ask Before Quitting Your Job to Start a Business

How do you know when the time is right to make the leap?
Alina Dizik
How to Build an Advisory Board
Starting a Business

How to Build an Advisory Board

Why you should consider building an advisory team alongside your business plan -- and how to get started.
Katherine Duncan
3 Apps to Help You Write a Business Plan
Starting a Business

3 Apps to Help You Write a Business Plan

Helpful apps that guide you from brilliant business idea to an actionable plan.
Kim Lachance Shandrow
Crash Course in Business Plan Competitions
Starting a Business

Crash Course in Business Plan Competitions

Business-plan competitions can yield more than seed money for your bright idea -- they can also connect you with mentors, collaborators and investors.
Michelle Goodman
Barbara Corcoran's 6 Pearls of Wisdom for Young Treps
Starting a Business

Barbara Corcoran's 6 Pearls of Wisdom for Young Treps

Ahead of her keynote address at Entrepreneur's annual Growth Conference, here are some of her choicest gems of advice for young entrepreneurs.
Kara Ohngren Prior
Reworking Your Business Plan? Consider These Tips
Starting a Business

Reworking Your Business Plan? Consider These Tips

If you're looking to run your business better, you'll need the discipline to stick to a plan. Here's how to make better choices from the start.
Tim Berry
Reverse-Engineering Your Business Plan: Success Starts With the End
Starting a Business

Reverse-Engineering Your Business Plan: Success Starts With the End

Focusing on your ultimate goals can help you devise a plan to reach them.
Dave Lavinsky
Writing a Business Plan? Don't Forget About Marketing
Starting a Business

Writing a Business Plan? Don't Forget About Marketing

Executing a solid marketing strategy is essential to any venture's success. Otherwise, your genius may be greeted by crickets.
Marsha Friedman
Young Entrepreneur's 10 Most Popular Stories of 2012
Starting a Business

Young Entrepreneur's 10 Most Popular Stories of 2012

From inspiring quotes and giant-brand mishaps to tips on starting up and growing a business, here are the stories that became our readers' favorites this year.
Diana Ransom
Are You Ready to Launch? Here's How to Find Out
Starting a Business

Are You Ready to Launch? Here's How to Find Out

Veteran venture capitalist Jason Green on the importance of a minimum viable product and assembling a top-notch team.
Jason Green
Presented by
Do You Need an MBA for Startup Success?
Starting a Business

Do You Need an MBA for Startup Success?

Student entrepreneur Joseph Draschil on how his education prepared him for running a business, but why he had to look elsewhere for startup help.
Presented by

Often the first act of entrepreneurship is formalizing a business plan for a prospective company. Business plans, which serve as something of a roadmap for how a founder will turn an idea into a full-fledged business, typically include information like an executive summary, a market analysis and financial projections.

Business plans can be vital for entrepreneurs and business owners interested in lining up a bank loan or attracting other stakeholders such as investors. And though a plan may change over time, entrepreneurs and owners often say the process of mapping out how a company will operate and who its customers will be is invaluable.

Still, as the lean startup trend has taken root in recent years, debate has arisen over whether entrepreneurs actually need business plans. Many investors and others within the entrepreneurial community suggest that in a startup, time is of the essence. And since a business plan -- and often the business itself -- will surely change anyway and it might be of little use to put in the effort. According to some, it's better to simply go and do, and then based on an owner's progress, raise funding later, should that be necessary. 

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