Traditional Business Plans are long and complex models to be composed and updated. The application of the Lean model to the Business Plan processing procedure helps companies to reduce drafting times and length.
What is the Lean Business Plan? Basically, a lean Business Plan allows you to easily analyze the results achieved and make the necessary adjustments to implement your business, minimizing the risks of failure. This type of Business Plan therefore increases a company’s opportunities for success, helping it to develop a solid business strategy.
Lean business Plan: What it consists of
The adoption of this agile and minimalist approach allows you to write a business plan in less than an hour by focusing only on the essential elements, minimizing frills and redundancies by immediately focusing on the most effective Business Model. A few simple direct questions are then answered.
This business model summarizes what will happen and when, who is responsible for what and what to expect regarding sales, expenses, and cash flows.
What are the key elements of a Lean Business Plan?
According to experts on the subject, the essential components of this model are 4:
- Strategy: what you want to do
- Tactics: how it will be done
- Execution: who will do what
- Financials: what results will be obtained
Have you already adopted this type of model for your business? If so, were you successful? Do you know that with The Best Idea you can propose your Business Plan to an investor or lender interested in your idea?
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