November 30, 1999 in ATDC News

Realistic, Executable Business Planning

Post placeholder image

As we wrote before, many investors don’t want to read your business plan. That doesn’t mean you shouldn’t take the time to write one. Writing a business plan is good discipline for the entrepreneur and can force you to think through things you might otherwise ignore. Below is a best practices on realistic, executable business planning.

Effective business planning and execution go hand-in-hand to help start-up companies create and implement on an effective, focused strategy.  At least a very basic business plan should be created early in the companies’ formation, usually before a formal company launch but certainly before significant time or resources are invested in the business.  A complete business plan should be available at the time at which you begin formal fundraising efforts (remember, it usually takes 6 months+ to raise money).  Three key business planning steps include:

I. Develop a Thorough, Realistic and Compelling Business Plan
A business plan is an important planning, communications and selling document typically consisting of a 2-3 page Executive Summary and an approximately 20-30 page business plan. The executive summary is critical as this is what most will turn to first to assess your company; A poor executive summary may cost you key investors or key hires.  It should be written last.   

II. Conduct Regular, Ongoing-Business Planning
All effective start-ups need to continually validate and revise their business plan as needed.

III. Execute, Execute, Execute
Entrepreneurship requires effective, speedy execution in an uncertain environment.   

…continue reading >




By browsing this website, you agree to our privacy policy.
I Agree