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A Good Business Plan is a Window into your Idea

Ashish Gupta
Tuesday, November 1, 2011
Ashish Gupta
Every aspect of a business is important; and the business plan is one such aspect as it helps form the initial interface between the start-up business and its investors. Even more importantly, writing the plan forces details to be fleshed out and vague ideas to be clarified that would otherwise stay vague within the spoken word. Mentioned below are some points to keep in mind before we discuss the business plan itself.

1. All business plans are work-in-progress and will have unanswered questions. If all the answers were available, then the company would not be a startup. The plan is a starting point and not an end point of conclusions.

2. Every topic covered in the business plan will be incomplete but to different levels, because not all aspects of a business can be equally well thought through from the get-go. However, it is still important to give some thought to each topic.

3. The plan will evolve both during conversations with investors and of course during execution. Don't be afraid to change things as long as you know and can articulate why.

4. Prepare the plan at multiple levels - for introductory conversations keep the material very concise and ideally restricted to less than 15 power point slides. Different people will dig deeper into different areas depending on the person talking to you. So be prepared to go deeper, but not right away.

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