The document, and what it is for.
WHAT IT IS ACTUALLY FOR
Forcing you to think through the business, completely.
WHAT IT IS ALSO FOR
Communicating it: to lenders, investors, partners or staff.
WHY THE DISTINCTION MATTERS
A plan written for a lender differs from one written for yourself.
WHAT A PLAN SHOULD CONTAIN
What the business does and for whom The problem and the evidence it exists The offer The market and its size Competition and your position How you reach customers How you deliver The team The financial model What you need and what it funds Risks and what you would do
WHAT MATTERS MOST TO READERS
Evidence of demand The numbers and their basis Whether you understand the risks
WHAT DESTROYS CREDIBILITY
Projections with no mechanism Claims of no competition Market figures with no source Omitting obvious risks
WHY OMITTING RISKS FAILS
Readers identify them anyway, and the omission suggests you have not thought.
HOW LONG IT SHOULD BE
Short enough to be read.
WHAT TO PUT IN AN APPENDIX
Detail.
WHAT TO REVISE
The plan, as you learn.
WHY
A plan written once and filed serves nothing.
WHAT TO KEEP FROM IT
The assumptions, stated separately, so they can be tested.
WHAT TO TEST FIRST
The assumption that would matter most if it were wrong.
