Business Model And Business Plan

This is great practice for distilling the essence of your business.

As an early stage company your goal might be to uncover or refine your business model.

So your business model might be, you have a suspicion that selling a certain color of widgets to a certain set of customers with a certain set of marketing plans is going to work.

It would be akin to building a house without a blueprint.

Or maybe you’re one of the lucky few who have never had to write one. But a no-plan alternative isn’t the solution either.

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Doing so with a Lean Canvas is not only quick but an effective way for telling your business model progress story to a room full of external stakeholders (aka advisors and investors).

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While carrying your core business model assumptions in your head alone might seem like the fastest alternative, you need to beware of the reality distortion fields that plague entrepreneurs.

Most entrepreneurs start with a strong initial vision and a Plan A for realizing that vision. Instead of chasing a mythical perfect plan, what you need is a well documented starting point and a systematic process for going from your Plan A to a plan that works before running out of resources. While writing a business plan can be a good exercise for the entrepreneur, it takes too long and more importantly, falls short of its true purpose: Facilitating conversations with people other than yourself.

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