It’s actually a very good exercise to trim down your business plan to the absolute minimum—it forces you to trim needless words and communicate your business idea clearly, with minimal clutter.
Bill Payne had a nice post on gust.com late last month titled Using your business plan, in which he lists the different forms or outputs people confuse with a business plan and sets each one into the proper use context. He defines the elevator pitch, video pitch, executive summary, PowerPoint presentation, and business plan as [...]
Today I posted 10 Blogging Tips, 1,000 posts on Planning Startups Stories, my main blog. That was a special post; it took a lot of extra time, and I’d like to take advantage of this space here to invite you to read that there. Here’s an executive summary: My personal favorite posts are on the [...]
Women 2.0 has a great concept for a business plan competition: the business plan must fit on a 5×5 napkin. I love this for a few reasons: First, this contest forces contestants to focus on their elevator pitch and executive summary which are arguably the most important parts of a business plan. Requiring a focus [...]
You may have a winning business plan, but that doesn’t mean anything unless you are able to perfect the art of pitching your idea. Your pitch is your opportunity to get your audience interested in your idea and your business. No one is going to read your business plan unless they find your pitch interesting, [...]
Great post over at Guy Kawasaki’s blog on The Art of the Executive Summary. We’ve recently been reading a lot of business plans for the spring business plan competition season and it’s depressing how many terrible executive summaries are out there. Here are some of the common pitfalls: 1. The language barrier: Many plans assume [...]