What makes a good business plan? Although what really matters is the follow-up, here are three business plan critical factors.

Planning, Startups, Stories


Tim Berry on business planning, starting and growing your business, and having a life in the meantime.

Three Business Plan Critical Factors

What matters most for a business plan? When somebody asked on Quora what are the critical factors of a business plan, I came up with these three business plan critical factors:

However…

The business plan itself is far less important than what a business does with it. There’s that mantra:

The plan is useless; but planning is essential.

A business plan ought to be the first step towards a planning process that includes regular review and revision. The goal of business planning is steering the business. If it were navigation, the plan includes the destination as goal and the route as steps toward the goal; but actual navigation includes the GPS positioning and real-time information to fine tune the route along the way, in response to actual traffic, weather, and so forth.

 

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What makes a good business plan? Although what really matters is the follow-up, here are three business plan critical factors.