Business plans have a bad rap. But research proves new entrepreneurs who write a business plan, are 2.5 times more likely to go into business. In today's episode, I share what's important and what's not in creating a short, effective business plan.
Over the last 12 years, I have written 9 business plans ranging from 5 page documents to 60 page magazine style printed versions. As I look back at what helped my companies and what remained "fluff", I realized there are only a few critical components to a healthy business plan.
** This is episode #2 of a four-part series. Listen to episode #1 here **
Here's what you'll learn in this podcast:
- The 10 elements of every successful business plan
- What investors are looking for in a business plan
- What a business plan should actually be used for
- What is the appropriate length of a business plan
- How to leverage your plan as a tool to grow your startup
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Have you ever written a business plan? What was your experience? Was there anything you felt I left out? Let me know in the comments below.