How are ventures actually formed and what is the role of the business plan?
Entrepreneurs respond to attractive opportunities by forming new ventures. In this chapter, we consider the five-step process for establishing a new enterprise. One particularly noteworthy step in the process is the development of a story and business plan. The story is a compelling synopsis of why this venture is needed at this moment of time and how it can achieve success. We then detail the task of writing a business plan, which is a significant and challenging effort for entrepreneurs.
To see these talks in their entirety or to access related materials, go to Stanford Entrepreneurship Corner
Business Plans that Work - Timmons, Zacharakis, & Spinelli
Plans That Work arms entrepreneurs and small business owners with an easy-to-follow template for writing persuasive business plans, along with proven models that can be used to analyze potential business opportunities from initial idea to viable venture. This value-packed book will show both entrepreneurs and current business owners how to:
- Determine what to include in each plan, why, and for whom
- Recognize and avoid common pitfalls in the process
- Use the renowned "Timmons Model" to analyze potential business opportunities
How to Write a Great Business Plan
A great business plan is one that focuses on a series of questions which relate to the four critical factors critical to the success of every new venture: the people, the opportunity, the context, and the possibilities for both risk and reward. This is a condensed version of Sahlman's longer article in book 'The Entrepreneurial Venture'
Frank Moyes - Colorado Leeds School of Business
Professor Frank Moyes has a number of useful business plans templates and references available on his web site. There also many complete business plans from a breadth of different industries that can be leveraged as additional examples or case readings.
Peter Kent of Insight Business Tools provides a slide deck on how and why financial models can help entrepreneurs in the business planning process.