What Makes A Great Business Plan

It is totally fine to have a first business plan covering the key business model drivers and milestones you want to achieve on 3-5 pages.

Once you learn what customers really want and how to profit then you increase the detail of your business plan (e.g.

INTERNAL REASONS Most people start working on a rough business plan too late.

We recommend that you write a business plan when you have a good business idea.

As a starting point you can use this or that free business plan template.

This means you’ll have to be very specific about your business model, because investors get hundreds of business plans every month, so make sure your business plan stands out from the crowd.

PROBLEM First, you need to specify what problem you would like to solve with your business. The more precise you describe the problem, the better your solution will be and thereby you will increase your chances of success.

MARKET Then, you need to estimate the current and future market size for solving this problem either via market research reports or a back on the envelope calculation.

In this article I’ll show you (1) what a business plan is, (2) why, when and for whom to write the business plan, and (3) the elements of a good business plan.

A business plan is a 30-40 pages long description of how you want to build your company.


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