Step 5: The Business Plan

While building is sometimes the most fun part, having a good plan which you revise from time to time will increase your chances for success.

The business plan helps you set clear goals, outline your strategies, and keep track of your progress. It’s something you can refer back to and update as needed, especially when things change or new opportunities come up.

By following and regularly updating your business plan, you’ll stay focused and be better prepared to tackle any challenges that come your way. Plus, it’s a great tool to show potential investors and partners that you have a clear vision and plan for success.

A solid business plan will address all aspects of your venture, such as:

1. The Team

2. The Problem

3. The Solution Description

4. The Customer Profile and Business Model

5. The Current Traction

6. The Financial Forecast

7. The Market

8. The Competitive Landscape and Competitive Advantage

9. The Go-to-Market Strategy

10. The Roadmap

While you can generate a first version of your Business Plan using our AI-Copilot, we highly recommend you create your own.

tip

If the business part of building a venture is not your strength, find a co-founder who is more versed or work with an advisor.