04/10/2021
What is the best start-up business plan template?
A good business plan is a conjecture backed by intent. Ideally, it is a framework to pull the required components of the business together, and its main purpose in my mind should be to achieve some efficiency around this.
Realistically, very few businesses would map in practice to the plan created. After all, the majority and greater value of the learning experience is achieved once the business is in action, not from the drawing board or thoughts on paper.
So, the business planning process is a tool to create the juggles a business founder throws up, hoping to gradually juggle them in perfect order, such that, once this is happening, new juggles can be added and the challenge of order begins again. Effectively, an iterative process of doing and learning which when done well will result in the gathering of information and insights that can be woven into the business practice – for the immediate and the future. In as much, the most critical plan, as any founder/entrepreneur will attest to, is the one that is being manifested in the mind of the entrepreneur.
Having said that, I like 2 templates
1) the Lean Canvas, a one pager that captures things at a high level,
https://hbr.org/2013/05/why-the-lean-start-up-changes-everything
2) the simple generic format which mirrors 90% of all plans, and can be found on most government web sites. I have attached links to both below.
https://business.gov.au/planning/business-plans/develop-your-business-plan
The Lean Model is a great snap shot reference, but the danger is taking it too seriously, and spending too much time on semantics and pedantics. Rather, treat it as a high level ‘rapid’ planning tool, which will reflect what you have already captured, what needs more work, and the gaps. Once its initial iteration has been completed, with the mods and gaps identified, start work on the generic long-hand version. This will have more detail and will take longer.
From time to time, as the long-hand plan is pulled together, stop and update the Lean plan, and update its to-do list. Once the planning process is complete (albeit that a Business Plan is never really complete), it can be tweaked to be used for managing the business, ongoing planning, sharing with key stakeholders, attracting key personnel, to vet what-if financial scenarios, and to support investment pitches.
