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HBR BP Process.
Seat of your pants is one way to start and run a business.
However, if you are looking to succeed and grow your business, this method
will not suffice. You need to document your business details and strategy.
A business plan is the foundation for a business in
any stage - start -up through mature. It provides a disciplined
process to develop a physical document which demonstrates the
assessment, organizational vision, quantifies the resources required,
and provides the implementation plan. It is the means to
articulate the venture to potential investors, partners and employees.
HBR provides two levels of support - one for first time
entrepreneurs/owners; the second, for existing business owners.
Level 1 - Review - It is critical that first time business start-ups
complete all aspects of their own plan. However, having an impartial review by experienced and knowledgeable
professionals helps to identify areas that may need further clarification or development before presenting
to others - financial organizations, partners, potential stakeholders).
Level 2 - Creation - Existing businesses wishing to expand or
perhaps those that never completed an initial plan, HBR will create the business plan based on
interviews with the owner(s) and secondary research.
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