At StackDeck we don't believe in the traditional business plan. That doesn't mean we don't think there's a time and place for a business plan. It just means that we believe in answering the necessary questions in order to be able to take action as quickly as possible. The reality is that most startups will evolve very rapidly within the first few months of operation. If you spend too much time planning before you begin executing, then you're likely wasting time.
A business plan should be a living document that is simple enough for everyone in your organization to understand and easy enough to update to always reflect the current business model. It's important to note, though, that there are two kinds of business plans. We will get into both types here, but first, we need to address the two fundamental questions that every business plan should be addressed
There are two types of early-stage business plans, and they both address these two fundamental questions. The first type of business plan is the "let's get started plan." The other type of business plan is what we call the "let's raise money plan." The simplest way to differentiate these plans is that one is designed to target your actions. The other plan is designed to help people believe in and understand your idea, your team, your product, and your approach to the market.
Suppose you're asking somebody to invest a lot of money in your new business. In that case, you might need a more comprehensive business plan. Later will dive into how to create an investment-ready business plan. For now, our focus is on creating a straightforward business plan framework that will guide all of your early-stage actions; it will also become the foundation of a more comprehensive business plan if you need one in the future.
Side Note: many investors recognize that a business plan is a collection of assumptions and therefore put very little weight on it. In fact, some investors will never ask for a business plan but instead get the answers they are looking for through your pitch deck, presentation, and subsequent meetings.
The focus of the simple business plan you're about to create is to answer critical questions and help you get started.
At StackDeck we don't believe in the traditional business plan. That doesn't mean we don't think there's a time and place for a business plan. It just means that we believe in answering the necessary questions in order to be able to take action as quickly as possible. The reality is that most startups will evolve very rapidly within the first few months of operation. If you spend too much time planning before you begin executing, then you're likely wasting time.
A business plan should be a living document that is simple enough for everyone in your organization to understand and easy enough to update to always reflect the current business model. It's important to note, though, that there are two kinds of business plans. We will get into both types here, but first, we need to address the two fundamental questions that every business plan should be addressed
There are two types of early-stage business plans, and they both address these two fundamental questions. The first type of business plan is the "let's get started plan." The other type of business plan is what we call the "let's raise money plan." The simplest way to differentiate these plans is that one is designed to target your actions. The other plan is designed to help people believe in and understand your idea, your team, your product, and your approach to the market.
Suppose you're asking somebody to invest a lot of money in your new business. In that case, you might need a more comprehensive business plan. Later will dive into how to create an investment-ready business plan. For now, our focus is on creating a straightforward business plan framework that will guide all of your early-stage actions; it will also become the foundation of a more comprehensive business plan if you need one in the future.
Side Note: many investors recognize that a business plan is a collection of assumptions and therefore put very little weight on it. In fact, some investors will never ask for a business plan but instead get the answers they are looking for through your pitch deck, presentation, and subsequent meetings.
The focus of the simple business plan you're about to create is to answer critical questions and help you get started.