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Business Plan Basics – 101


Recently I have been working on business plans, and I did them a few times before, after some trial and a lot of error I decided to give my best basic overview of how to put a basic business plan together and why it would be useful.

That main purpose of business plan is gather all your ideas in one place and communicating it to another person, so the best thing is to think about it as dialog, you want to answer every possible question that person may have, be thurough and don’t just try filling it up.

Everybody has all the details to a business plan in their heads but they don’t put it all down on paper:

  • What the company is going to do?
  • What problem is it going to solve?
  • How big is the market?
  • What are the sources of revenue?
  • What is your exit strategy for your investors?
  • What amount of money is required?
  • How are you going to market it?
  • What kind of people do you need?
  • What are the marketing risks?
  • What are the technology risks?
  • What are the execution risks?

Have somebody else go over and critique it then fix the points you missed and keep on going over it. This is just a simple way of putting all your ideas and motivation down on a piece paper and communicate it to another person.