This meant we spent 100 or so hours putting together a document that was destined to be obsolete. In both cases, the reality of the business, the user base, and the market have made the plan irrelevant in a matter of months, if not weeks. I have written a couple in my lifetime, for companies that I have started. Now, Eric Ries' Lean Startup movement revolves around skipping the step of developing a business plan and jumping directly into experimentation, and I absolutely agree with this. If you are a startup, especially a tech startup, then you might find some similarities between this concept and that of a ' pitch deck template.' The pitch deck, in the end, is the modern, simpler version of the traditional business plan. Again, the most common concept is this 20 or 30 page-long document that you prepare to demonstrate that the founding team has the right mindset to venture into a new opportunity. Typical elements are an executive summary, business description, SWOT analysis, competitor analysis, market analysis and go-to-market strategy and finally a financial summary.īased on that structure, a business plan may be as short as a one-page executive summary, or as long as a 50 to 100-page document outlying the specifics of the business. The traditional one you'll come across on the web is a text document, probably 20 to 40 pages long. There are several formats in which this document may be prepared. There is consensus over the concept of Business Plan representing a formal, written statement of the goals of a new venture, and an overview of the original strategy that will be followed to achieve them. Worry not, you've come to the right place. If you got here, it is likely that you are looking to start your own business and one of your investors, or bank, or accelerator program requested a business plan for your company. There is some disambiguation about what a business plan is, when is it needed and how long should it be, but we'll try to clarify some of these questions in this article. The presentation template above is a business plan template in the form of a slide deck.
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