So What Exactly is a Business Plan?

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Entrepreneurs always hear that they need to have a business plan for their startup, however usually torn away between dividing their time between building the startup or writing the business plan. In this episode of eLagaan Whiteboard Friday, the eLagaan (http://elagaan.com ) team talks to Naeem Zafar to understand the right balance while creating the business plan.

The video talks about:
What is a business plan
How business plan is for the founders first before giving it out
What stage do you start to write a business plan
What is executive summary in the business plan
How big does your business plan needs to be (slides or document?)
What happens when a gatekeeper of a Venture Capitalist (VC) asks you for a business plan before you can pitch them?
Does a business plan have to be write once or a living document
It talks about few of the major components of a business plan including:
Is there a unmet need
Why is this unmet
Who has the need
What is the market
Is the market big enough
What alternative does market have
What is your unique solution
Why is it unique
How is your go to market strategy
What is your financial model
How much money do you need
What is your business model : how much will you make in each transaction, how will you reach people
Team & Timeline
We hope this video is going to help you create the right business plan based on your startup needs ! Good Luck !

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