Business Plans

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. 

Today's Most Read

News and Articles About Business Plans

8 Ingredients Every App and Software Business Plan Needs
Starting a Business

8 Ingredients Every App and Software Business Plan Needs

These factors are important to consider and forecast before you launch your business.
Tim Berry
A Business Plan for the Startup Economy
Finance

A Business Plan for the Startup Economy

Access to capital is key in helping high-growth startups get off the ground and running. Here are two ways to help get them there.
Karen Mills
10 Reasons Not to Write a Business Plan
Business Plans

10 Reasons Not to Write a Business Plan

Writing a business plan isn't for everyone. Here are ten strategies you might be better off trying first.
Martin Zwilling
How to Build a Business Plan For Your Personal Brand
Leadership

How to Build a Business Plan For Your Personal Brand

Your company branding deserves a business plan, so why not your personal branding? Here's how to get started.
Jim Joseph
Presented by
How to Grow Your Startup Into a Powerhouse in Less Than 3 Years
Starting a Business

How to Grow Your Startup Into a Powerhouse in Less Than 3 Years

Big brands are constantly planning for the future and strategizing their next move. Here's how you can use a similar approach to grow your startup.
Jim Joseph
Leadership

10 Business Plan Benefits You Might Be Forgetting

If you think creating a business plan is not for you, think again. Here are ten ways your business plan can help you be a better entrepreneur.
Tim Berry
Presented by
4 Ways to Fit Your Mobile App Into Your Business Strategy
Technology

4 Ways to Fit Your Mobile App Into Your Business Strategy

Ask the right questions and make the right choices and your mobile app could be an integral part of your growth strategy.
Rahul Varshneya
Do Angry McDonald's Franchisees Have a Leg to Stand On?
Franchise

Do Angry McDonald's Franchisees Have a Leg to Stand On?

If you're thinking of becoming the owner of any franchise someday, there's an important lesson contained in what's currently going on with this fast-food giant.
Joel Libava
Why You Shouldn't Send Your Business Plan to Investors
Starting a Business

Why You Shouldn't Send Your Business Plan to Investors

Creating a business plan is important. But the trick is in learning how to leverage it to best get funding.
Dave Lavinsky
Good Entrepreneurs Borrow, Great Ones Steal
Starting a Business

Good Entrepreneurs Borrow, Great Ones Steal

Fabrice Grinda expands on International Idea Arbitrage and how to execute existing ideas in emerging markets.
Dave Lerner
How to Turn Your Business Idea into a Business Model
Starting a Business

How to Turn Your Business Idea into a Business Model

Once you have a business idea, it's time to get to the real work of getting it off the ground and running. Here are three ways to get started.
Brad Sugars
How and Why Business Plans Have Changed
Starting a Business

How and Why Business Plans Have Changed

The fundamentals of business plan writing remain the same, but there are some crucial changes these days that you should keep in mind when crafting your plan.
Tim Berry
10 Questions to Ask if You Want to Create a Winning Business Plan
Starting a Business

10 Questions to Ask if You Want to Create a Winning Business Plan

Throw out everything you know about a business plan. These are the questions you need to ask to sell your idea to investors.
Arlene Weintraub
Crocs: From Footwear Fad to Billion-Dollar Company
Growth Strategies

Crocs: From Footwear Fad to Billion-Dollar Company

This iconic shoemaker bounced back after the recession by revamping its product lines and distribution channel.
Sarah Max