Loud Thinking June 19, 2014 at 01:52PM
4 Factors Every Business Plan Should Address
You’ve got a brilliant idea for a new product or service. You’re energized, excited, and ready to execute. But first you’ve got to write a business plan. Investors and stakeholders will care about four factors that are critical to every new venture:
The people. Introduce who will be starting and running the business, and any outside parties providing resources.
The opportunity. What will you sell – and to whom? How fast do you plan to grow?
The context. Capture the big picture – the regulatory environment, demographic trends, and other dynamic factors that you can’t control.
The risk and reward. Present an examination of everything that can go wrong and right. Be prepared to explain how your team can respond.
Adapted by HBR from 20-Minute Manager: Creating Business Plans.
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