Business Plans

News and Articles About Business Plans

Your Mission Statement May Be Utterly Useless or a Gold Mine
Mission Statement

Your Mission Statement May Be Utterly Useless or a Gold Mine

Make yours meaningful by defining goals and specific strategies for customers, the enterprise and owners. Or skip one if there's no business purpose for it.
Tim Berry
What Happens to Your Business If You Die?
National Small Business Week

What Happens to Your Business If You Die?

What happens when you want to retire and stop running your business? Here are a few tidbits of advice on how to keep your company growing, even when you are no longer the boss.
Melanie Spring
The Lie Entrepreneurs Tell Themselves and Others
Starting a Business

The Lie Entrepreneurs Tell Themselves and Others

Entrepreneurs often seem like they are so put together – their plan is on target, they are doing amazing and life couldn't be better. But many times that couldn't be further from the truth. And that is okay.
Tom Kulzer
Presented by
How Do I Build a Business Plan? (Infographic)
Business Plans

How Do I Build a Business Plan? (Infographic)

Take a look at this infographic for tips on how to write a great business plan.
Nina Zipkin
Is Your Business Plan Missing This Vital Ingredient?
Startup Basics

Is Your Business Plan Missing This Vital Ingredient?

Here are five steps to take to maximize your chances of startup success.
Stacey Alcorn
Don't Be a 'Pividiot.' Follow These Tips.
Growth Strategies

Don't Be a 'Pividiot.' Follow These Tips.

Constantly changing directions can harm your business. So how do you know when it's a good time to pivot?
Matthew Toren
Lessons From the Boston Red Sox That Can Help Your Business in the New Year
Growth Strategies

Lessons From the Boston Red Sox That Can Help Your Business in the New Year

As 2014 approaches, consider these three important lessons gleaned from the World Series baseball champions.
Trevor Turnbull
When Planning for the Future, Keep Your Past in Perspective
Growth Strategies

When Planning for the Future, Keep Your Past in Perspective

In order to grow and improve your startup, it helps to take a close look at hidden and existing assets.
Debra Kaye
8 Ingredients Every App and Software Business Plan Needs
Startup Basics

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
Presented by
How to Build a Business Plan For Your Personal Brand
Thought Leaders

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
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

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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