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Instead, to help build a complete and effective plan, lean on time-tested structures created by entrepreneurs who have come before you.Business planning is often used to secure funding, but plenty of business owners find writing a plan valuable, even if they never work with an investor.
That’s why we put together a free business plan template to help you get started.
Get the template It’s tempting to dive right into execution when you’re excited about a new business or side project, but taking the time to write a business plan and get your thoughts on paper allows you to do a number of beneficial things: A business plan can be as informal or formal as your situation calls for, but even if you’re a fan of the back-of-the-napkin approach to planning, there are some key benefits to starting your plan from an existing outline or template.
The sample is set up to help you get a sense of each section and understand how they apply to the planning and evaluation stages of a business plan.
If you’re looking for funding, especially through venture capital, this example won’t be a complete or formal look at a business plan, but it will give you a great place to start and ideas about which sections to expand.
Dot-Com and Other Business Failures According to Web Mergers, 4,854 dot-com companies went out of business from 2000 to 2003.
Nearly 4,000 of these investor-owned firms were acquired or made a major shift in their business model to undertake new activities, some more than once.
The closure rate of dot-coms must also be put into perspective with the realization that, according to the Small Business Administration, approximately 45,000 businesses fail in the U. Part of the unintended legacy of the Dot-Coms is confusion about the value of business planning.
Planning, even management, was ignored by some Dot-Coms, which is possible when operating funds don't have to earned, but are supplied by investors.
This approach is safe, but doesn't encourage innovation.
The restructuring of a business to include e-business activities, or the startup of a new e-business are unique processes that require planning.