A business plan is a written description of your business’s future. It is a document that tells what you plan to do and how you plan to do it. Even if the plan is simply a paragraph scribbled on a napkin, if it describes your business strategy, you’ve written a plan, or at least the start of a plan.
- Upon completion of Module 3: Business Plan, learners will:
- Understand the meaning of a business plan
- Be able to develop a business plan for their innovation initiative
Business plans are inherently strategic. You start in the present, today, with a set of resources and abilities. The intent is to get to a there, a point in the future (usually calculated three to five years out) at which time your business will have a different set of resources and abilities, as well as greater profitability and increased assets. Your plan shows how you will get from here to there.