Use these five sections to create a better business plan.
Your business plan should help your team to think through hard issues more clearly. It should not be created simply to meet the expectations of your VC. Instead, it should show the truth about the market and the things you’re going to change.
This section shows the truth. What is on the market? What are your competitors? It should show clearly what’s going on.
This is your chance to describe how you are going to change things. How you will make X and Y happen. This is the heart of the business plan.
Who is on your team? Who is going to join your team? Who are the people you are serving? Who are the champions?
This section should include how much money you need and how you’re going to spend it. Include your projected cash flow, profit and loss, balance sheets, and more.
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