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Before deciding exactly what that looks like and how to create it, there are some critical questions to answer and factors to understand.Just because it is the status quo should never be a line in the vocabulary of a startup founder today.”An executive summary is a different document again.
You should have a plan in order to get yourself organized, to ensure you have some type of viable commercial potential, you have focus and hopefully aren’t going to run out of money or starve before you get going.
If that’s all you need, and you don’t plan to raise money, apply for loans and don’t intend on bringing in partners, then you certainly don’t need a 25lb manuscript. In fact, Brian Chesky (found of Airbnb) is famous for his one-page business plan for global domination.
The other is more organizational an internal in nature.
If you want to get funded by David Mc Clure, then he says he wants to see “a functional product that people are using.
It is much more important to get started, test, and secure funding first.
When it comes to business plan creation there are now more templates and streamlined formats that are being adjusted to meet today’s needs to accommodate faster moving, leaner startups.
There are plenty of great freelancers available online who can help handle time intensive parts of the process like research and formatting, and interactive pro-formas.
There are even templates you can plug in and print so you don’t waste time figuring out what to include.
If you are planning to go to a local bank for a business loan, or are approaching your sphere of influence for backing who you know is accustomed to seeing legit business plans, then you know you probably need to create something that they understand in a format they are comfortable with.
Business plans and pitch decks are two different things. Yet, one is for presenting and specifically for getting funding from angels and VCs.