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A business plan refers to a written document that comprehensively outlines what your business is, where it is going, and how it will get there.
A decade ago anyone you approached with a business idea without a plan would have laughed and shooed you away.
Even your friends and family, or the most aggressive angel investors.
Things have changed., a business plan is still a must for some scenarios and some reasons.
Yet, some may also think that pitch decks and clever presentations may he displaced them.This is a brief 1-3 page document that sums up your business and plan, and gives viewers enough info to decide whether they want to see any more data or not.Like a pitch deck, it it’s good enough it can be sufficient to get lenders and investors to choose to work with you, and work through the details in the process.Business plans and pitch decks are two different things. Yet, one is for presenting and specifically for getting funding from angels and VCs.The other is more organizational an internal in nature.Don’t do it unless you know why and what you are trying to achieve with it.want to see if you hope to get a funding check from him in a moment.This article will outline how to create one step-by-step.Business plans have long been a critical document for new businesses. If so, what best practices and data can help you create a winning document that will help your business get the funding you need and ensure your venture lasts?Too many founders have also tried to cram the equivalent of a business plan into a pitch deck, only to find it is a hindrance to getting the results they want.Harvard Business Review (HBR) says “the real key to succeeding in business is being flexible and responsive to opportunities.