Creating a business plan is a key part of starting any business venture.
Nowadays business plans are used as an internal roadmap for the execution of the company since pitch decks have taken over when it comes to fundraising required materials. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash.
Though without going through this process many entrepreneurs will find they have huge gaps in their ideas and may fall short when it comes to fielding questions from serious investors.
Using this template you will cover most of the bases and will be able to take the next steps with confidence." What should be in your business plan?
Include: Marketing Plan This is another section which is an absolute must-have, even if you never develop a fully fledged business plan in its entirety.
This holds key information that all financiers and potential investors are going to want to know.
For additional guidance, you may want to review the Executive Summary Template that I recently covered on Forbes as well.
Company Description This section provides a further overview of your company now.
Moreover, I also provided a commentary on a pitch deck from an Uber competitor that has raised over 0 million (There are many variations of business plans today.
Especially, with the rapid growth of lean startups.