Consider lean business planning—writing a business plan doesn’t have to be a long, painful process. Instead, you can use the Lean Planning method to get started easier and finish faster. Lean Planning will help you start your business in a way that improves your chances of success. This methodology is baked into LivePlan.
It is definitely not the most exciting part of starting a business. In fact, if you’re like a lot of entrepreneurs, you’re probably going to find yourself pulling a few all-nighters to get one done before heading into your first pitch for funding. Because that’s the thing--your business plan is a pretty important.
While every business owner should have an ongoing planning process to help them run their business, not every business owner needs a complete, formal business plan suitable for submitting to a potential investor, or bank, or venture capital contest. So don’t include outline points just because they are on a big list somewhere, or on this list, unless you’re developing a standard business plan that you’ll be showing to someone who expects to see a standard business plan.
A business plan is not a document you create once and store in your bottom drawer. It is a living guide that you should develop as your business grows and changes. Successful businesses review and update their business plan when circumstances change.