5. Business model VS business plan
• Business model
• Brainstorm, modify, check , pitch …
• Business Plan
• Formal document, investors, financial stakeholders, internal strategic projects
16. Business plan
• A written document that outlines the future activity for an existing or
proposed business venture.
• Is the formal written expression of the entrepreneurial vision, describing the
strategy and operations of the proposed venture.
• A document that brings together the key elements of a business that
include details about the products and services, the cost, sales and
expected profits.
• A Plan
17. Business plan when & why?
• Create a new company
• Communication across company, division, department, business partners
• Investment capital
• Expansion capital (banks, leases)
• Merger/acquisition process
• ….
For Strategic decisions