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10 Business Plan Words Every Manager Needs to Know By Heart If you're starting or running a business, you'll need to know this list of essential business planning words.

By Tim Berry Edited by Dan Bova Jan 30, 2012

Opinions expressed by Entrepreneur contributors are their own.

So I've changed my mind -- again -- and come up with this list of essential business planning words every manager should know:

1. Business plan: An organized collection of milestones, tasks, assumptions and basic business numbers. It covers strategy and details what's supposed to happen when, who's in charge of what, how progress is measured, when money is to be spent and from where, and when money is expected to come in. It isn't a document; it's a plan. If it isn't reviewed and revised monthly, then it won't be very useful. So it has to be practical and just big enough to serve the business need.

Related: To Make Business Planning Less Daunting, Let's Call It Something Else 2. Business planning: Steering a company using a cyclical process. Plan, review and revise as necessary to optimize. Business planning is management.

3. Business strategy: A combination of strengths and weaknesses, opportunities and threats, target market, business offering and product-market fit. Focus is vital. Who isn't in your market and what you're not offering can be more useful information than who is and what you are offering. All of this can be expressed in bullets, slides, a few key paragraphs or any other way that keeps strategy and focus top of mind.

4. Business forecast: A simplified, manageable set of assumptions about future cash flow, including sales, cost of sales, expenses, assets, liabilities and capital. It isn't about predicting the future; it's about connecting the dots on assumptions and drivers in your monthly projections over the next year and your annual forecasts for the subsequent two years. It focuses on what drives the key components, expressed as money. Those drivers include factors like capacity, sales and marketing activities, management compensation, direct costs, and so forth. The goal is to lay out connections between key assumptions in projections spread month by month as expected amounts. For example, you would project how direct costs look as a percentage of sales. Usually the relationships are more important than the actual numbers. So, to follow the example, if your actual sales are higher than expected, you can tell from your forecast that direct costs also will be higher than expected. Companies with a good forecasting process rarely get through a month without some change in the forecast.

5. Strategic plan: A business plan that leaves out the nuts and bolts.

6. Operations plan: A business plan that leaves out the strategy.

7. Marketing plan: A business plan that leaves out the overall company financial strategy.

Related: The Top 10 Business Plan Mistakes

8. Annual plan: A business plan that leaves out plans for the second and third year.

9. Bank-ready business plan:

a. A document created as output from a business plan, formatted for easy reading and highlighting past financial performance and current financial position. Bankers look for payment history and assets backing the loan.

b. When used to describe a canned boilerplate document somebody is selling, as in turnkey or ready-made, it is just sleazy sales hype for a bad product. Buyer beware: A ready-made business plan is always a waste of money.

10. Investor-ready or funding-ready business plan:

a. A document or pitch created as output from a business plan, describing a business investors will be interested in based on the specifics of that business. The most common and essential highlights are management team, product-market fit, potential market, potential growth, defensibility (some hard-to-copy elements like technology or knowhow), scalability and potential return for investors. No matter how brilliant, beautiful or creative it might be, it isn't investor ready -- and never will be -- if it doesn't describe a business with real prospects for investors.

b. See 9b above.

Related: Three Financial Guesstimates Every Business Plan Needs

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Free Business Plan Template for Small Businesses (2024)

Use this free business plan template to write your business plan quickly and efficiently.

A good business plan is essential to successfully starting your business —  and the easiest way to simplify the work of writing a business plan is to start with a business plan template.

You’re already investing time and energy in refining your business model and planning your launch—there’s no need to reinvent the wheel when it comes to writing a business plan. Instead, to help build a complete and effective plan, lean on time-tested structures created by other  entrepreneurs and startups. 

Ahead, learn what it takes to create a solid business plan and download Shopify's free business plan template to get started on your dream today. 

What this free business plan template includes

• Executive summary
• Company overview
• Products or services offered
• Market analysis
• Marketing plan
• Logistics and operations plan
• Financial plan

This business plan outline is designed to ensure you’re thinking through all of the important facets of starting a new business. It’s intended to help new business owners and entrepreneurs consider the full scope of running a business and identify functional areas they may not have considered or where they may need to level up their skills as they grow.

That said, it may not include the specific details or structure preferred by a potential investor or lender. If your goal with a business plan is to secure funding , check with your target organizations—typically banks or investors—to see if they have business plan templates you can follow to maximize your chances of success.

Our free business plan template includes seven key elements typically found in the traditional business plan format:

1. Executive summary

This is a one-page summary of your whole plan, typically written after the rest of the plan is completed. The description section of your executive summary will also cover your management team, business objectives and strategy, and other background information about the brand. 

2. Company overview

This section of your business plan will answer two fundamental questions: “Who are you?” and “What do you plan to do?” Answering these questions clarifies why your company exists, what sets it apart from others, and why it’s a good investment opportunity. This section will detail the reasons for your business’s existence, its goals, and its guiding principles.

3. Products or services offered

What you sell and the most important features of your products or services. It also includes any plans for intellectual property, like patent filings or copyright. If you do market research for new product lines, it will show up in this section of your business plan.

4. Market analysis

This section includes everything from estimated market size to your target markets and competitive advantage. It’ll include a competitive analysis of your industry to address competitors’ strengths and weaknesses. Market research is an important part of ensuring you have a viable idea.

5. Marketing plan

How you intend to get the word out about your business, and what strategic decisions you’ve made about things like your pricing strategy. It also covers potential customers’ demographics, your sales plan, and your metrics and milestones for success.

6. Logistics and operations plan

Everything that needs to happen to turn your raw materials into products and get them into the hands of your customers.

7. Financial plan

It’s important to include a look at your financial projections, including both revenue and expense projections. This section includes templates for three key financial statements: an income statement, a balance sheet, and a cash-flow statement . You can also include whether or not you need a business loan and how much you’ll need.

Business plan examples

What do financial projections look like on paper? How do you write an executive summary? What should your company description include?  Business plan examples  can help answer some of these questions and transform your business idea into an actionable plan.

Professional business plan example

Inside our template, we’ve filled out a sample business plan featuring a fictional ecommerce business . 

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, this example won’t be a complete or formal look at business plans, but it will give you a great place to start and notes about where to expand.

Lean business plan example

A lean business plan format is a shortened version of your more detailed business plan. It’s helpful when modifying your plan for a specific audience, like investors or new hires. 

Also known as a one-page business plan, it includes only the most important, need-to-know information, such as:

• Company description
• Key members of your team
• Customer segments

💡 Tip: For a step-by-step guide to creating a lean business plan (including a sample business plan), read our guide on how to create a lean business plan .

Benefits of writing a solid business plan

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 thorough business plan and get your thoughts on paper allows you to do a number of beneficial things:

• Test the viability of your business idea. Whether you’ve got one business idea or many, business plans can make an idea more tangible, helping you see if it’s truly viable and ensure you’ve found a target market. 
• Plan for your next phase. Whether your goal is to start a new business or scale an existing business to the next level, a business plan can help you understand what needs to happen and identify gaps to address.
• Clarify marketing strategy, goals, and tactics. Writing a business plan can show you the actionable next steps to take on a big, abstract idea. It can also help you narrow your strategy and identify clear-cut tactics that will support it.
• Scope the necessary work. Without a concrete plan, cost overruns and delays are all but certain. A business plan can help you see the full scope of work to be done and adjust your investment of time and money accordingly.
• Hire and build partnerships. When you need buy-in from potential employees and business partners, especially in the early stages of your business, a clearly written business plan is one of the best tools at your disposal. A business plan provides a refined look at your goals for the business, letting partners judge for themselves whether or not they agree with your vision.
• Secure funds. Seeking financing for your business—whether from venture capital, financial institutions, or Shopify Capital —is one of the most common reasons to create a business plan.

Why you should you use a template for a business plan

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 simple business plan template.

No blank-page paralysis

A blank page can be intimidating to even the most seasoned writers. Using an established business planning process and template can help you get past the inertia of starting your business plan, and it allows you to skip the work of building an outline from scratch. You can always adjust a template to suit your needs.

Guidance on what to include in each section

If you’ve never sat through a business class, you might never have created a SWOT analysis or financial projections. Templates that offer guidance—in plain language—about how to fill in each section can help you navigate sometimes-daunting business jargon and create a complete and effective plan.

Knowing you’ve considered every section

In some cases, you may not need to complete every section of a startup business plan template, but its initial structure shows you you’re choosing to omit a section as opposed to forgetting to include it in the first place.

Tips for creating a successful business plan

There are some high-level strategic guidelines beyond the advice included in this free business plan template that can help you write an effective, complete plan while minimizing busywork.

Understand the audience for your plan

If you’re writing a business plan for yourself in order to get clarity on your ideas and your industry as a whole, you may not need to include the same level of detail or polish you would with a business plan you want to send to potential investors. Knowing who will read your plan will help you decide how much time to spend on it.

Know your goals

Understanding the goals of your plan can help you set the right scope. If your goal is to use the plan as a roadmap for growth, you may invest more time in it than if your goal is to understand the competitive landscape of a new industry.

Take it step by step

Writing a 10- to 15-page document can feel daunting, so try to tackle one section at a time. Select a couple of sections you feel most confident writing and start there—you can start on the next few sections once those are complete. Jot down bullet-point notes in each section before you start writing to organize your thoughts and streamline the writing process.

Maximize your business planning efforts

Planning is key to the financial success of any type of business , whether you’re a startup, non-profit, or corporation.

To make sure your efforts are focused on the highest-value parts of your own business planning, like clarifying your goals, setting a strategy, and understanding the target market and competitive landscape, lean on a business plan outline to handle the structure and format for you. Even if you eventually omit sections, you’ll save yourself time and energy by starting with a framework already in place.

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Business plan template FAQ

What is the purpose of a business plan.

The purpose of your business plan is to describe a new business opportunity or an existing one. It clarifies the business strategy, marketing plan, financial forecasts, potential providers, and more information about the company.

How do I write a simple business plan?

• Choose a business plan format, such as a traditional or a one-page business plan. 
• Find a business plan template.
• Read through a business plan sample.
• Fill in the sections of your business plan.

What is the best business plan template?

If you need help writing a business plan, Shopify’s template is one of the most beginner-friendly options you’ll find. It’s comprehensive, well-written, and helps you fill out every section.

What are the 5 essential parts of a business plan?

The five essential parts of a traditional business plan include:

• Executive summary: This is a brief overview of the business plan, summarizing the key points and highlighting the main points of the plan.
• Business description: This section outlines the business concept and how it will be executed.
• Market analysis: This section provides an in-depth look at the target market and how the business will compete in the marketplace.
• Financial plan: This section details the financial projections for the business, including sales forecasts, capital requirements, and a break-even analysis.
• Management and organization: This section describes the management team and the organizational structure of the business.

Are there any free business plan templates?

There are several free templates for business plans for small business owners available online, including Shopify’s own version. Download a copy for your business.

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How to Write a Business Plan: Step-by-Step Guide + Examples

Noah Parsons

24 min. read

Updated May 7, 2024

Writing a business plan doesn’t have to be complicated. 

In this step-by-step guide, you’ll learn how to write a business plan that’s detailed enough to impress bankers and potential investors, while giving you the tools to start, run, and grow a successful business.

• The basics of business planning

If you’re reading this guide, then you already know why you need a business plan . 

You understand that planning helps you: 

• Raise money
• Grow strategically
• Keep your business on the right track 

As you start to write your plan, it’s useful to zoom out and remember what a business plan is .

At its core, a business plan is an overview of the products and services you sell, and the customers that you sell to. It explains your business strategy: how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. 

A good business plan is much more than just a document that you write once and forget about. It’s also a guide that helps you outline and achieve your goals. 

After completing your plan, you can use it as a management tool to track your progress toward your goals. Updating and adjusting your forecasts and budgets as you go is one of the most important steps you can take to run a healthier, smarter business. 

We’ll dive into how to use your plan later in this article.

There are many different types of plans , but we’ll go over the most common type here, which includes everything you need for an investor-ready plan. However, if you’re just starting out and are looking for something simpler—I recommend starting with a one-page business plan . It’s faster and easier to create. 

It’s also the perfect place to start if you’re just figuring out your idea, or need a simple strategic plan to use inside your business.

Dig deeper : How to write a one-page business plan

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• What to include in your business plan

Executive summary

The executive summary is an overview of your business and your plans. It comes first in your plan and is ideally just one to two pages. Most people write it last because it’s a summary of the complete business plan.

Ideally, the executive summary can act as a stand-alone document that covers the highlights of your detailed plan. 

In fact, it’s common for investors to ask only for the executive summary when evaluating your business. If they like what they see in the executive summary, they’ll often follow up with a request for a complete plan, a pitch presentation , or more in-depth financial forecasts .

Your executive summary should include:

• A summary of the problem you are solving
• A description of your product or service
• An overview of your target market
• A brief description of your team
• A summary of your financials
• Your funding requirements (if you are raising money)

Dig Deeper: How to write an effective executive summary

Products and services description

This is where you describe exactly what you’re selling, and how it solves a problem for your target market. The best way to organize this part of your plan is to start by describing the problem that exists for your customers. After that, you can describe how you plan to solve that problem with your product or service. 

This is usually called a problem and solution statement .

To truly showcase the value of your products and services, you need to craft a compelling narrative around your offerings. How will your product or service transform your customers’ lives or jobs? A strong narrative will draw in your readers.

This is also the part of the business plan to discuss any competitive advantages you may have, like specific intellectual property or patents that protect your product. If you have any initial sales, contracts, or other evidence that your product or service is likely to sell, include that information as well. It will show that your idea has traction , which can help convince readers that your plan has a high chance of success.

Market analysis

Your target market is a description of the type of people that you plan to sell to. You might even have multiple target markets, depending on your business. 

A market analysis is the part of your plan where you bring together all of the information you know about your target market. Basically, it’s a thorough description of who your customers are and why they need what you’re selling. You’ll also include information about the growth of your market and your industry .

Try to be as specific as possible when you describe your market. 

Include information such as age, income level, and location—these are what’s called “demographics.” If you can, also describe your market’s interests and habits as they relate to your business—these are “psychographics.” 

Related: Target market examples

Essentially, you want to include any knowledge you have about your customers that is relevant to how your product or service is right for them. With a solid target market, it will be easier to create a sales and marketing plan that will reach your customers. That’s because you know who they are, what they like to do, and the best ways to reach them.

Next, provide any additional information you have about your market. 

What is the size of your market ? Is the market growing or shrinking? Ideally, you’ll want to demonstrate that your market is growing over time, and also explain how your business is positioned to take advantage of any expected changes in your industry.

Dig Deeper: Learn how to write a market analysis

Competitive analysis

Part of defining your business opportunity is determining what your competitive advantage is. To do this effectively, you need to know as much about your competitors as your target customers. 

Every business has some form of competition. If you don’t think you have competitors, then explore what alternatives there are in the market for your product or service. 

For example: In the early years of cars, their main competition was horses. For social media, the early competition was reading books, watching TV, and talking on the phone.

A good competitive analysis fully lays out the competitive landscape and then explains how your business is different. Maybe your products are better made, or cheaper, or your customer service is superior. Maybe your competitive advantage is your location – a wide variety of factors can ultimately give you an advantage.

Dig Deeper: How to write a competitive analysis for your business plan

Marketing and sales plan

The marketing and sales plan covers how you will position your product or service in the market, the marketing channels and messaging you will use, and your sales tactics. 

The best place to start with a marketing plan is with a positioning statement . 

This explains how your business fits into the overall market, and how you will explain the advantages of your product or service to customers. You’ll use the information from your competitive analysis to help you with your positioning. 

For example: You might position your company as the premium, most expensive but the highest quality option in the market. Or your positioning might focus on being locally owned and that shoppers support the local economy by buying your products.

Once you understand your positioning, you’ll bring this together with the information about your target market to create your marketing strategy . 

This is how you plan to communicate your message to potential customers. Depending on who your customers are and how they purchase products like yours, you might use many different strategies, from social media advertising to creating a podcast. Your marketing plan is all about how your customers discover who you are and why they should consider your products and services. 

While your marketing plan is about reaching your customers—your sales plan will describe the actual sales process once a customer has decided that they’re interested in what you have to offer. 

If your business requires salespeople and a long sales process, describe that in this section. If your customers can “self-serve” and just make purchases quickly on your website, describe that process. 

A good sales plan picks up where your marketing plan leaves off. The marketing plan brings customers in the door and the sales plan is how you close the deal.

Together, these specific plans paint a picture of how you will connect with your target audience, and how you will turn them into paying customers.

Dig deeper: What to include in your sales and marketing plan

Business operations

The operations section describes the necessary requirements for your business to run smoothly. It’s where you talk about how your business works and what day-to-day operations look like. 

Depending on how your business is structured, your operations plan may include elements of the business like:

• Supply chain management
• Manufacturing processes
• Equipment and technology
• Distribution

Some businesses distribute their products and reach their customers through large retailers like Amazon.com, Walmart, Target, and grocery store chains. 

These businesses should review how this part of their business works. The plan should discuss the logistics and costs of getting products onto store shelves and any potential hurdles the business may have to overcome.

If your business is much simpler than this, that’s OK. This section of your business plan can be either extremely short or more detailed, depending on the type of business you are building.

For businesses selling services, such as physical therapy or online software, you can use this section to describe the technology you’ll leverage, what goes into your service, and who you will partner with to deliver your services.

Dig Deeper: Learn how to write the operations chapter of your plan

Key milestones and metrics

Although it’s not required to complete your business plan, mapping out key business milestones and the metrics can be incredibly useful for measuring your success.

Good milestones clearly lay out the parameters of the task and set expectations for their execution. You’ll want to include:

• A description of each task
• The proposed due date
• Who is responsible for each task

If you have a budget, you can include projected costs to hit each milestone. You don’t need extensive project planning in this section—just list key milestones you want to hit and when you plan to hit them. This is your overall business roadmap. 

Possible milestones might be:

• Website launch date
• Store or office opening date
• First significant sales
• Break even date
• Business licenses and approvals

You should also discuss the key numbers you will track to determine your success. Some common metrics worth tracking include:

• Conversion rates
• Customer acquisition costs
• Profit per customer
• Repeat purchases

It’s perfectly fine to start with just a few metrics and grow the number you are tracking over time. You also may find that some metrics simply aren’t relevant to your business and can narrow down what you’re tracking.

Dig Deeper: How to use milestones in your business plan

Organization and management team

Investors don’t just look for great ideas—they want to find great teams. Use this chapter to describe your current team and who you need to hire . You should also provide a quick overview of your location and history if you’re already up and running.

Briefly highlight the relevant experiences of each key team member in the company. It’s important to make the case for why yours is the right team to turn an idea into a reality. 

Do they have the right industry experience and background? Have members of the team had entrepreneurial successes before? 

If you still need to hire key team members, that’s OK. Just note those gaps in this section.

Your company overview should also include a summary of your company’s current business structure . The most common business structures include:

• Sole proprietor
• Partnership

Be sure to provide an overview of how the business is owned as well. Does each business partner own an equal portion of the business? How is ownership divided? 

Potential lenders and investors will want to know the structure of the business before they will consider a loan or investment.

Dig Deeper: How to write about your company structure and team

Financial plan

Last, but certainly not least, is your financial plan chapter. 

Entrepreneurs often find this section the most daunting. But, business financials for most startups are less complicated than you think, and a business degree is certainly not required to build a solid financial forecast. 

A typical financial forecast in a business plan includes the following:

• Sales forecast : An estimate of the sales expected over a given period. You’ll break down your forecast into the key revenue streams that you expect to have.
• Expense budget : Your planned spending such as personnel costs , marketing expenses, and taxes.
• Profit & Loss : Brings together your sales and expenses and helps you calculate planned profits.
• Cash Flow : Shows how cash moves into and out of your business. It can predict how much cash you’ll have on hand at any given point in the future.
• Balance Sheet : A list of the assets, liabilities, and equity in your company. In short, it provides an overview of the financial health of your business. 

A strong business plan will include a description of assumptions about the future, and potential risks that could impact the financial plan. Including those will be especially important if you’re writing a business plan to pursue a loan or other investment.

Dig Deeper: How to create financial forecasts and budgets

This is the place for additional data, charts, or other information that supports your plan.

Including an appendix can significantly enhance the credibility of your plan by showing readers that you’ve thoroughly considered the details of your business idea, and are backing your ideas up with solid data.

Just remember that the information in the appendix is meant to be supplementary. Your business plan should stand on its own, even if the reader skips this section.

Dig Deeper : What to include in your business plan appendix

Optional: Business plan cover page

Adding a business plan cover page can make your plan, and by extension your business, seem more professional in the eyes of potential investors, lenders, and partners. It serves as the introduction to your document and provides necessary contact information for stakeholders to reference.

Your cover page should be simple and include:

• Company logo
• Business name
• Value proposition (optional)
• Business plan title
• Completion and/or update date
• Address and contact information
• Confidentiality statement

Just remember, the cover page is optional. If you decide to include it, keep it very simple and only spend a short amount of time putting it together.

Dig Deeper: How to create a business plan cover page

How to use AI to help write your business plan

Generative AI tools such as ChatGPT can speed up the business plan writing process and help you think through concepts like market segmentation and competition. These tools are especially useful for taking ideas that you provide and converting them into polished text for your business plan.

The best way to use AI for your business plan is to leverage it as a collaborator , not a replacement for human creative thinking and ingenuity. 

AI can come up with lots of ideas and act as a brainstorming partner. It’s up to you to filter through those ideas and figure out which ones are realistic enough to resonate with your customers. 

There are pros and cons of using AI to help with your business plan . So, spend some time understanding how it can be most helpful before just outsourcing the job to AI.

Learn more: 10 AI prompts you need to write a business plan

• Writing tips and strategies

To help streamline the business plan writing process, here are a few tips and key questions to answer to make sure you get the most out of your plan and avoid common mistakes .  

Determine why you are writing a business plan

Knowing why you are writing a business plan will determine your approach to your planning project. 

For example: If you are writing a business plan for yourself, or just to use inside your own business , you can probably skip the section about your team and organizational structure. 

If you’re raising money, you’ll want to spend more time explaining why you’re looking to raise the funds and exactly how you will use them.

Regardless of how you intend to use your business plan , think about why you are writing and what you’re trying to get out of the process before you begin.

Keep things concise

Probably the most important tip is to keep your business plan short and simple. There are no prizes for long business plans . The longer your plan is, the less likely people are to read it. 

So focus on trimming things down to the essentials your readers need to know. Skip the extended, wordy descriptions and instead focus on creating a plan that is easy to read —using bullets and short sentences whenever possible.

Have someone review your business plan

Writing a business plan in a vacuum is never a good idea. Sometimes it’s helpful to zoom out and check if your plan makes sense to someone else. You also want to make sure that it’s easy to read and understand.

Don’t wait until your plan is “done” to get a second look. Start sharing your plan early, and find out from readers what questions your plan leaves unanswered. This early review cycle will help you spot shortcomings in your plan and address them quickly, rather than finding out about them right before you present your plan to a lender or investor.

If you need a more detailed review, you may want to explore hiring a professional plan writer to thoroughly examine it.

Use a free business plan template and business plan examples to get started

Knowing what information to include in a business plan is sometimes not quite enough. If you’re struggling to get started or need additional guidance, it may be worth using a business plan template. 

There are plenty of great options available (we’ve rounded up our 8 favorites to streamline your search).

But, if you’re looking for a free downloadable business plan template , you can get one right now; download the template used by more than 1 million businesses. 

Or, if you just want to see what a completed business plan looks like, check out our library of over 550 free business plan examples . 

We even have a growing list of industry business planning guides with tips for what to focus on depending on your business type.

Common pitfalls and how to avoid them

It’s easy to make mistakes when you’re writing your business plan. Some entrepreneurs get sucked into the writing and research process, and don’t focus enough on actually getting their business started. 

Here are a few common mistakes and how to avoid them:

Not talking to your customers : This is one of the most common mistakes. It’s easy to assume that your product or service is something that people want. Before you invest too much in your business and too much in the planning process, make sure you talk to your prospective customers and have a good understanding of their needs.

• Overly optimistic sales and profit forecasts: By nature, entrepreneurs are optimistic about the future. But it’s good to temper that optimism a little when you’re planning, and make sure your forecasts are grounded in reality. 
• Spending too much time planning: Yes, planning is crucial. But you also need to get out and talk to customers, build prototypes of your product and figure out if there’s a market for your idea. Make sure to balance planning with building.
• Not revising the plan: Planning is useful, but nothing ever goes exactly as planned. As you learn more about what’s working and what’s not—revise your plan, your budgets, and your revenue forecast. Doing so will provide a more realistic picture of where your business is going, and what your financial needs will be moving forward.
• Not using the plan to manage your business: A good business plan is a management tool. Don’t just write it and put it on the shelf to collect dust – use it to track your progress and help you reach your goals.
• Presenting your business plan

The planning process forces you to think through every aspect of your business and answer questions that you may not have thought of. That’s the real benefit of writing a business plan – the knowledge you gain about your business that you may not have been able to discover otherwise.

With all of this knowledge, you’re well prepared to convert your business plan into a pitch presentation to present your ideas. 

A pitch presentation is a summary of your plan, just hitting the highlights and key points. It’s the best way to present your business plan to investors and team members.

Dig Deeper: Learn what key slides should be included in your pitch deck

Use your business plan to manage your business

One of the biggest benefits of planning is that it gives you a tool to manage your business better. With a revenue forecast, expense budget, and projected cash flow, you know your targets and where you are headed.

And yet, nothing ever goes exactly as planned – it’s the nature of business.

That’s where using your plan as a management tool comes in. The key to leveraging it for your business is to review it periodically and compare your forecasts and projections to your actual results.

Start by setting up a regular time to review the plan – a monthly review is a good starting point. During this review, answer questions like:

• Did you meet your sales goals?
• Is spending following your budget?
• Has anything gone differently than what you expected?

Now that you see whether you’re meeting your goals or are off track, you can make adjustments and set new targets. 

Maybe you’re exceeding your sales goals and should set new, more aggressive goals. In that case, maybe you should also explore more spending or hiring more employees. 

Or maybe expenses are rising faster than you projected. If that’s the case, you would need to look at where you can cut costs.

A plan, and a method for comparing your plan to your actual results , is the tool you need to steer your business toward success.

Learn More: How to run a regular plan review

Free business plan templates and examples

Kickstart your business plan writing with one of our free business plan templates or recommended tools.

Free business plan template

Download a free SBA-approved business plan template built for small businesses and startups.

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Sample business plan library

Explore over 500 real-world business plan examples from a wide variety of industries.

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How to write a business plan FAQ

What is a business plan?

A document that describes your business , the products and services you sell, and the customers that you sell to. It explains your business strategy, how you’re going to build and grow your business, what your marketing strategy is, and who your competitors are.

What are the benefits of a business plan?

A business plan helps you understand where you want to go with your business and what it will take to get there. It reduces your overall risk, helps you uncover your business’s potential, attracts investors, and identifies areas for growth.

Having a business plan ultimately makes you more confident as a business owner and more likely to succeed for a longer period of time.

What are the 7 steps of a business plan?

The seven steps to writing a business plan include:

• Write a brief executive summary
• Describe your products and services.
• Conduct market research and compile data into a cohesive market analysis.
• Describe your marketing and sales strategy.
• Outline your organizational structure and management team.
• Develop financial projections for sales, revenue, and cash flow.
• Add any additional documents to your appendix.

What are the 5 most common business plan mistakes?

There are plenty of mistakes that can be made when writing a business plan. However, these are the 5 most common that you should do your best to avoid:

• 1. Not taking the planning process seriously.
• Having unrealistic financial projections or incomplete financial information.
• Inconsistent information or simple mistakes.
• Failing to establish a sound business model.
• Not having a defined purpose for your business plan.

What questions should be answered in a business plan?

Writing a business plan is all about asking yourself questions about your business and being able to answer them through the planning process. You’ll likely be asking dozens and dozens of questions for each section of your plan.

However, these are the key questions you should ask and answer with your business plan:

• How will your business make money?
• Is there a need for your product or service?
• Who are your customers?
• How are you different from the competition?
• How will you reach your customers?
• How will you measure success?

How long should a business plan be?

The length of your business plan fully depends on what you intend to do with it. From the SBA and traditional lender point of view, a business plan needs to be whatever length necessary to fully explain your business. This means that you prove the viability of your business, show that you understand the market, and have a detailed strategy in place.

If you intend to use your business plan for internal management purposes, you don’t necessarily need a full 25-50 page business plan. Instead, you can start with a one-page plan to get all of the necessary information in place.

What are the different types of business plans?

While all business plans cover similar categories, the style and function fully depend on how you intend to use your plan. Here are a few common business plan types worth considering.

Traditional business plan: The tried-and-true traditional business plan is a formal document meant to be used when applying for funding or pitching to investors. This type of business plan follows the outline above and can be anywhere from 10-50 pages depending on the amount of detail included, the complexity of your business, and what you include in your appendix.

Business model canvas: The business model canvas is a one-page template designed to demystify the business planning process. It removes the need for a traditional, copy-heavy business plan, in favor of a single-page outline that can help you and outside parties better explore your business idea.

One-page business plan: This format is a simplified version of the traditional plan that focuses on the core aspects of your business. You’ll typically stick with bullet points and single sentences. It’s most useful for those exploring ideas, needing to validate their business model, or who need an internal plan to help them run and manage their business.

Lean Plan: The Lean Plan is less of a specific document type and more of a methodology. It takes the simplicity and styling of the one-page business plan and turns it into a process for you to continuously plan, test, review, refine, and take action based on performance. It’s faster, keeps your plan concise, and ensures that your plan is always up-to-date.

What’s the difference between a business plan and a strategic plan?

A business plan covers the “who” and “what” of your business. It explains what your business is doing right now and how it functions. The strategic plan explores long-term goals and explains “how” the business will get there. It encourages you to look more intently toward the future and how you will achieve your vision.

However, when approached correctly, your business plan can actually function as a strategic plan as well. If kept lean, you can define your business, outline strategic steps, and track ongoing operations all with a single plan.

Noah is the COO at Palo Alto Software, makers of the online business plan app LivePlan. He started his career at Yahoo! and then helped start the user review site Epinions.com. From there he started a software distribution business in the UK before coming to Palo Alto Software to run the marketing and product teams.

Table of Contents

• Use AI to help write your plan
• Common planning mistakes
• Manage with your business plan
• Templates and examples

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6 Innovative Alternatives To The Traditional Business Plan

Competition is fierce and many ambitious individuals have the same vision of success as you do. And the best place to start beating the competition (after coming up with a killer idea) is with a well laid out business plan.

Now if you’ve looked into the topic, then you know that there’s a lot of debate on whether or not the traditional business plan is still effective. For budding entrepreneurs today, the business plan is outdated, overly complex and unnecessary . This leads us to ask the obvious question: If you still need to map out your business idea for others, where does this leave you?

If you’re looking to create a business plan that can impress investors, here are some modern ideas and innovative services you should consider.

Use A PowerPoint Slide Deck For Effective Pitch Meetings

PowerPoint has always been the tool of choice for presenting ideas. Why not use it for pitching your business?

Walking potential investors through a PowerPoint presentation on your iPad can be very effective. Take Tim Young, founder of Socialcast, for example. He used 5 slides for a business pitch  in 2010 and managed to raise over 10 million in investment funds for 2 startups.

From his experience, he found that a presentation can help your pitch because “by sharing a screen and sitting in close proximity to each other, the environment naturally becomes more comfortable and relaxed.” Certainly an idea worth considering if you get nervous while presenting.

Create A Successful Business Model With  LaunchBoard

With LaunchBoard , you can create, both simple or complex business models in no time. The tool is a perfect solution when you need to define your business and understand your customers. With several important features, such as analyzing data and deciding the best way to move forward, the tool has all the necessary options for any companies to succeed.

Image Source: LaunchBoard.io

You can track your team’s progress with an easy access to members KPI’s and the ability to get involved in every decision-making process. Discover and develop new market opportunities, brainstorm and test ideas, organize files quickly and make all information understandable to everyone.

Use A Lean Canvas For Concise Business Plans

Just because your business plan is short doesn’t mean it isn’t well thought out. When you create one with Lean Stack , you can boil down the essentials down to a one page blue print for quick at-a-glance reading.

Using a Lean Canvas is best for those situations where you’re making a pitch to investors who  have very little time and can’t go through all the nitty-gritty details. This is a paid service, but offers  free 30-day trials for both individual and team plans.

Grow Your Busines With Strategyzer

Image Source: Strategyzer.com

With Strategyzer’s business model canvas, you are getting a platform and services that  understand their customers. The numbers speak for themselves — over 5 million active users. With Strategyzer you can easily create better products and quickly grow your business. Moreover, with this app, you can analyze any business idea and identify its market potential. It offers training options for the entire companies or simply one person.

Create  A Visual Business Plan With Pinterest

This idea may go against what you know about best business plan practices, but using Pinterest can be a creative way of visualizing your idea for others. In fact, Tim Berry, angel investor, business planner and entrepreneur, stands behind the idea.

According to him, a   business plan created with Pinterest is more accessible than a slide deck and is helpful in steering your business in the right direction. This method doesn’t describe your business; it focuses on the output of the plan.

As Tim Berry points out, “a business plan is worthwhile because of the decisions that result from it. If the Pinterest plan helps you organize a team and set the main points so you can move forward logically, why not?” I think that sums it up exactly.

Use Live Plan For Easy To Read Business Plans

Like the other suggested ideas, Live Plan tries to combine the serious nature of business plans with easy to read formats. It offers everything needed to keep your financials, business pitch and plan in check with an admin dashboard and support for team collaboration.

Live Plan makes it easy for you to forecast and prioritize the main financial elements of your business strategy like value propositions, key partnerships, cost structure and so on. This service is perfect for pitching a concise business plan investors and banks can instantly understand.

In this day and age, packaging and presenting your business plan effectively is becoming increasingly important if you want to stand out. Have you created a traditional business plan in the past? Which alternative would you use?

Top 8 Bizplan Alternatives & Competitors in 2024

Despite having all the resources and tools, entrepreneurs struggle to finish the first draft of their business plans. Reason?

Not having the right business plan software and strategic planning approach. Indeed, writing a business plan is no easy feat, but the process can be fun and easier through the right approach and business plan software.

Bizplan is one of the most trusted business planning solutions helping businesses create business plans, forecast financials, and secure funds.

Still, it’s not your only option. There are a bunch of Bizplan alternatives providing similar features at incredible rates.

Let’s dig in to understand why these options are worth considering.

Why Consider Alternatives to Bizplan?

Indeed. Bizplan is an incredible business plan software offering many exciting features like—direct access to planning experts and fundraising tools. Still, here are a few drawbacks that make you reconsider your decision:

• Limited customizations
• Limited collaboration features
• No free version or trial
• Limited integrations
• No pitch deck creator

So despite spending $29 on a monthly subscription, you may not get all the needed features.

In this article, we’ll review the top 8 Bizplan competitors, their pricing, and features, so you don’t have to trudge through the online research tunnel.

Sounds good? Let’s dive right in.

What are the Best Bizplan Alternatives?

Jump to section, 1. upmetrics.

Upmetrics Simplifies the complex process of writing

Professional Business Plan

With competitive pricing, an advanced feature line, and a seamless & user-friendly user interface— Upmetrics is the best Bizplan alternative to help you create a winning business plan.

It is specifically designed for startups and small businesses. Hence, everything about Upmetrics suits new-age entrepreneurs, be it user-friendliness, pricing, or financial projection features.

Here are the key features that make Upmetrics a better choice than Bizplan:

• Competitive Pricing: Upmetrics’ competitive pricing plans are a massive plus for those planning to switch to Upmetrics. Its starter plan costs $7 per month, whereas Bizplan’s monthly plan costs $29.
• User Interface and Design: Upmetrics is known for its intuitive, interactive, and user-friendly UI. It’s easier for users to navigate through the application. The visually appealing designs enhance the user experience.
• Financial Modeling: Upmetrics offers advanced financial modeling and forecasting features at an affordable price which you may not get with Bizplan.
• Customer Support: Upmetrics is known for its prompt and responsive customer support team. No matter what plan you are on, you will always receive enterprise-like support.

Starter Plan

Billed annually (Save up to 25%)

Team Member

Monthly Plan

Active Companies

Check out this table for a detailed feature comparison of Upmetrics and Bizplan:

What are you waiting for?

Business Planning Start @7/mo

Here’s a list of other incredible features of Upmetrics you may like to consider:

• 400+ fully customizable business plan examples to get started.
• Easy-to-use business plan builder with drag-and-drop tools.
• Financial forecasting tool to plan and manage your cash flow with ease.
• Easy to share or collaborate with the team in real time.
• Pitch deck creator to create perfect pitches and impress investors.
• AI assistance while creating a business plan.
• Create actionable business strategies using various business model canvases.
• Easily customize and edit cover pages.
• Real-time updates and cloud storage, eliminating the risk of data loss.
• Business resources, video tutorials, and guides to help get started.
• Intuitive, seamless, and responsive user interface.

2. Ideabuddy

Ideabuddy is a business planning software designed for new-age entrepreneurs to help them turn their ideas into actionable business plans.

This Bizplan alternative is designed on a principle where users can develop, test, and launch their business idea—all in one place.

If you are a first-time entrepreneur with limited financial knowledge, this is the tool you need for business planning.

Some of Ideabuddy’s key features may include:

• Modern business plan with a click
• Export your plan and financials
• Mobile-friendly platform
• Customizable templates and industry-based guides
• Test to score your idea
• Step-by-step business guide
• Brainstorm ideas with your team

Ideabuddy Compared to Bizplan:

Ideabuddy is best known for idea creation and its easy-to-use functionalities. As mentioned, this tool is designed to help users develop, test, and launch their business ideas in one place.

It is way ahead of its competitor Bizplan regarding user-friendliness and ease of use for beginners. However, it may lack comprehensive business planning features like financial forecasting.

Pricing: Ideabuddy’s subscription costs $15 for one business idea and collaborator. A free plan is also available with some basic functionalities.

3. Liveplan

LivePlan is one of the best business planning, budgeting, and performance-tracking software for startups and small business owners.

This Bizplan alternative simplifies the process of creating a professional business plan with its instruction manuals, tutorials, and expert guidance, whereas its automated financials built-in with formulas ensure precise financial forecasting.

However, Liveplan may not be suitable for flexible financial forecasting, so you may consider other Liveplan alternatives.

Some of Liveplan’s key features may include:

• Business plan templates
• Budgeting and expense tracking
• Online learning tools & resources
• Collaborative planning
• Pitch deck creator
• Dashboard and reporting
• Integrated document storage

LivePlan Compared to Bizplan

Features and functionality wise LivePlan is a better business plan tool compared to Bizplan. Whether you are a startup or a well-established organization, LivePlan has features for businesses of all kinds.

While Liveplan is the overall better choice, you may consider choosing Bizplan if you need direct access to planning experts and fundraising tools.

Price: LivePlan’s standard plan costs $20/month for one user. They do not have any free trial or demo plan as part of their pricing plan.

Create winning Business Plans with ultimate

AI Business Plan Generator

Plans starting from $7/month

4. BizPlanBuilder

BizPlanBuilder is a tool powered by BusinessPowerTools—an all-in-one platform providing entrepreneurs with guidance, resources, and tools to help them start and grow their business ventures.

It is an easy-to-use tool helping entrepreneurs and small business owners create comprehensive and investment-ready business plans.

The Bizplan alternatives aim to streamline the business planning process with its user-friendly interface, robust features, and structured framework.

Here’s an extended list of features BizPlanBuilder may provide:

• 150+ industry-specific sample plan templates
• Financial analysis and projections
• Pitch deck templates
• Strategic planning
• Collaboration tools
• Automatic backup and restore

BizPlanBuilder Compared to Bizplan

BizPlanBuilder is a business planning solution best known for its comprehensive business tools and resources, including financial analysis and projections, wizard-driven financial models, and industry-specific guidance.

On the other hand, Bizplan primarily focuses on the platform’s simplicity and ease of use. They also provide direct access to planning experts and fundraising tools to help your startup raise capital.

If you weigh more on the feature side, go with BizPlanBuider, and if you consider a streamlined approach to planning—BizPlan is the way to go.

Price: BizplanBuilder’s monthly subscription starts at $27. However, they also have a lifetime subscription plan costing $397.

5. The Business Plan Shop

The Business Plan Shop is a business & financial planning and analysis platform for small and medium-sized business owners and financial advisors.

Its industry-specific business plan templates make it easier for beginners to get started.

Despite its many features, the business plan software specializes in financial analysis, forecasting, and KPI tracking. It surely has a few advanced features but can be expensive for startups and small businesses.

Some of The Business Plan Shop’s key features may include:

• Financial forecasting software
• Sync accounting data
• Drag and drop templates and editor
• Integration with financial data
• Collaboration and sharing
• Faster than Microsoft Word

The Business Plan Shop Compared to Bizplan

The Business Plan Shop is a business planning tool best known for its financial forecasting, analysis, and KPI tracking capabilities, whereas Bizplan provides a streamlined approach to business planning with some additional startup tools and resources.

The user experience and ease of use in this case is a matter of personal preference here. You may consider taking free trials of both tools to better understand them.

Price: The Business Plan Shop’s business and CFO plan starts at 25.50. They also have a free trial available, so you may try it out before purchasing it.

6. MAUS Hub

MAUS hub ’s business strategy software is a powerful tool to streamline your business planning process.

It helps you easily develop an investment-ready business plan simply by offering business plan templates, tutorials, and educational resources for every step in the planning process.

MAUS specializes in business & strategic planning, performance tracking, and KPI management.

Some of MAUS hub’s key features may include:

• Financial analysis & forecasting
• Performance tracking & monitoring
• Collaboration & team management
• Seamless integrations
• Training & support

MAUS Hub Compared to Bizplan

Market segmentation features, detailed statements & impressive charts, and ease of use make MAUS hub’s business strategy software an excellent tool for entrepreneurs to create business plans.

However, real-time errors and high pricing may make considering this tool a big concern for early-stage startups and small business owners.

If you have big pockets to spend on business plan software, you may choose MAUS, but tools like Bizplan and Upmetrics are always better and cost-effective choices.

Price: MAUS hub has three different pricing packages as a part of their SMB subscription plan. However, you must contact their sales team to know more about their pricing.

Planful is a cloud-based business planning and financial performance management software for comprehensive business planning.

The Bizplan alternative focuses on financial performance management, with key features being financial close management, reporting, and consolidation. The tool is specifically designed for medium and large-scale enterprises; there could be a significant learning curve for newbie entrepreneurs.

Some of Planful’s key features may include:

• Budgeting and forecasting
• Financial consolidation
• Scenario modeling
• Reporting and analytics
• Financial close management
• Data integration and connectivity
• Responsive web and mobile apps

Planful Compared to Bizplan

As mentioned before, Planful is a cloud-based enterprise performance management platform with financial applications for planning, modeling, consolidation, reporting, and analysis.

Planful is an advanced financial planning tool, but it lacks comprehensive business planning writing features and tools.

So, if you are a startup or small business owner looking to build a comprehensive business plan, you may consider other free alternatives.

Price: Planful does not have a structured pricing model on their website; you may contact its sales team for information about its pricing.

Brixx is a competitive Bizplan alternative helping entrepreneurs with business plan creation, financial modeling, scenario planning, and goal tracking.

You can also integrate Brixx with your accounting software to automate the syncing of your actuals and forecast, making it easier to get started.

Talking about other features, the interactive charts and graphs make the financial data more understandable for readers.

Some of Brixx’s key features may include:

• 1-10 year financial forecasts
• Professional charts and reports
• Automated tax forecasts
• Quick-start templates
• Share plans in real-time
• Business Resources
• 3-way forecasting

Brixx Compared to Bizplan

Brixx is primarily a financial modeling and forecasting tool focusing on creating detailed financial projections for startups and small businesses.

Though it is better than Bizplan at financial projections and forecasting, it may lack perfection in other business planning areas.

If your goal is detailed financial projections, this tool up here is the right choice for you, but considering the overall performance, you may consider other tools from the list, like Upmetrics.

Price: Brixx’s monthly subscription starts at $22, and a free plan is also available with some basic functionalities.

And that’s it for today, let’s lead to the conclusion!

Bizplan is undoubtedly a great business planning solution. Still, some competitive alternatives like Upmetrics provide some of the most intriguing features at incredible prices to lure our attention.

Investing time and resources in the wrong tool is frustrating before understanding if it’s the right fit. So, we made the case different with Upmetrics.

Try Upmetrics and get your money back within 15 days if you don’t find it the right fit. Happy business planning!

Say No to Expensive Business Planning Software!

Get Affordable and Feature-Packed Business Planning with Upmetrics

Frequently Asked Questions

Why use a bizplan alternative.

Bizplan may not be a perfect fit for businesses of all kinds. On the other hand, business planning tools like Upmetrics provide similar features at a really affordable rate. So, exploring other options is always a smart move.

Is Upmetrics better than Bizplan?

Considering feature offerings, support, and pricing plans, Upmetrics is a better business planning tool than Bizplan. Upmetrics’ starter plan provides access to many advanced features like 200+ business plan templates, financial forecasting tools, and pitch deck creator, which may not be the case with Bizplan.

How expensive is Bizplan?

Bizplan offers 3 subscription plans at various pricing ranges:

• Monthly plan: $29
• Annual plan: $249
• Lifetime plan: $349

Does Bizplan integrate with Quickbooks?

Yes, Bizplan offers supported integrations with accounting software like Quickbooks and Xero.

What are the top alternatives to Bizplan?

The list of top Bizplan alternatives may include:

• BizPlanBuilder
• The Business Plan Shop

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noun as in scheme, design, way of doing things

Strongest matches

• arrangement

Strong matches

• contrivance
• disposition
• machination
• orderliness
• proposition
• undertaking

Weak matches

• big picture
• course of action
• ground plan

noun as in written description; diagram

• delineation
• illustration
• representation
• rough draft
• scale drawing

verb as in think out; prepare in advance

• contemplate
• quarterback
• bargain for
• lay in provisions
• make arrangements

verb as in intend, mean

• have every intention

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Example sentences.

At UNC-Chapel Hill, those plans were quickly reversed when 130 students tested positive for the virus just a week into the new semester.

The plan envisioned Oracle as a minority shareholder, thus mollifying Beijing.

If these reported plans were to go forward, it would be difficult to see how these conditions could be met.

Dhere calls the live vaccine something of a backup plan for the Serum Institute.

When he told a voter earlier in the night that he had a health-care plan ready to go, Stephanopoulos noted it had been “three and a half years” without one passing.

The plan is to stretch it out as long as possible, then probably forget about it, and then suddenly remember it.

Did the airline file a flight plan that took account of the weather en route from Surabaya, Indonesia, to Singapore?

The various members met for the first time when they traveled to Gambia at the beginning of December to carry out their plan.

Her new comments will only add to ongoing speculation that the Yorks plan, one day, to remarry.

The family behind Sotto Sotto says that they plan to rebuild, but an insider tells me it may be a while.

They shall plan how this may be done with due propriety, and shall advise us of their action.

Gordon gave a bitter laugh and went on, with the same strange, serious air of explaining his plan.

Joachim, as time showed, never forgave the Emperor for the failure of his cherished plan.

Ripperda's attention was next directed to put his plan of escape, in train for execution.

Still another kind of war credit bank was created on the co-operative plan to assist the middle and lower classes.

Related Words

Words related to plan are not direct synonyms, but are associated with the word plan . Browse related words to learn more about word associations.

noun as in something done

• functioning
• in the works

noun as in list of things to do

verb as in point or direct at a goal

• concentrate
• set one's sights on

noun as in goal

• desideratum
• intent/intention
• where one is heading

Viewing 5 / 201 related words

On this page you'll find 324 synonyms, antonyms, and words related to plan, such as: arrangement, deal, idea, intention, method, and policy.

From Roget's 21st Century Thesaurus, Third Edition Copyright © 2013 by the Philip Lief Group.

More From Forbes

Looking for a business plan alternative consider a business model canvas for startups.

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By Rieva Lesonsky

Is the thought of writing a business plan holding you back from starting a business? If you’re eager to get your business idea off the ground—without the drudgery of creating a massive document first—a business model canvas for startups might be right for you.

What is a business model canvas for startups?

A business model canvas is a quick-start alternative to a business plan. It helps you think through the most important aspects of startup—such as your product or service, your target market, and the resources you'll need to launch—in a brief chart format.

Every startup business needs a plan—but a traditional business plan isn’t your only option.

When to use a business model canvas

Why might you want to use a business model canvas instead of a traditional business plan? Here are some situations where a business model canvas might be appropriate:

• You suddenly have an opportunity you want to act on. Maybe a restaurant space is for lease in the exact area you dream of launching your restaurant. Perhaps you have the chance to form a partnership with someone who has lots of the resources you need to start a business. Using a business model canvas can enable you to act quickly before opportunity slips away.
• You want to beat the competition. If you have an innovative business idea, such as a software application or invention, using the business model canvas can help you be first to market. In a highly competitive space, other startups are likely planning launches similar to yours; the business model canvas can help you get the jump on them.
• You don’t need outside financing. If you are trying to get a bank loan, angel capital, or venture capital, you’ll need to have a traditional business plan ready to show the financing source. But if you have sufficient startup capital on your own, there’s no law saying that you have to follow the traditional business plan format.
• You want to rapidly assess the viability of your idea. Writing a traditional business plan will reveal any flaws in your idea; however, a business model canvas can help you pinpoint problems faster. Using a business model canvas, you can decide immediately if your idea will fly or if you need to revise it or scrap it and move on to another concept.

Who Needs A Business Checking Account?

Of course, some people just prefer the speed of a business model canvas and don’t want to spend weeks or months crafting a lengthy traditional business plan. If this is you, go ahead and try the business model canvas. Just keep in mind this format isn’t an excuse for neglecting the details of planning your startup.

Other Articles From  AllBusiness.com :

• The Complete 35-Step Guide for Entrepreneurs Starting a Business
• 25 Frequently Asked Questions on Starting a Business
• 50 Questions Angel Investors Will Ask Entrepreneurs
• 17 Key Lessons for Entrepreneurs Starting a Business

What’s included in a business model canvas for startups

The business model canvas for startups takes a high-level view of your business idea and focuses on the key elements you’ll need to make it viable. Developed by Alexander Osterwalder , it’s a one-page document in chart form that covers the nine “building blocks” that help your business startup make money.

• Key partners: Who are the buyers, suppliers, partners, and other alliances that can help you accomplish core business activities?
• Key activities: What are the most important actions you need to take in order to fulfill your value propositions, strengthen customer relationships, secure distribution channels, and maximize revenue streams?
• Key resources: What essential resources are needed to launch and run your business and create value for your customers?
• Unique value proposition: What products and services do you plan to offer? What customer needs do they meet? How do they differentiate your business from your competition?
• Customer segments: What customer groups will your business serve? Identify the customer personas that your business provides value for.
• Customer relationships: What relationships will you build with your customer segments? What kind of relationship does each customer segment expect?
• Channels: What distribution methods will you use to deliver your products or services to your target market?
• Cost structure: What will it cost to start and sustain your business? Which resources and activities will be the most expensive?
• Revenue streams: How will your business make money? How will you price your products and services? Are there other potential revenue streams?

You can create a business model canvas on paper or a whiteboard. There are also several apps you can use to create your business model canvas; they allow you to incorporate additional information, easily save and share the business model canvas, and more.

Where to get help with the business model canvas

There are several places to get help creating your business model canvas. You can start by watching this SCORE webinar on using the Business Model Canvas. Then visit Strategyzer , Canvanizer , and Xtensio to find a business model canvas tool you can use. You’ll also find sample business model canvas examples, resources, and training to help.

Both the traditional business plan and the business model canvas can help startup entrepreneurs evaluate their ideas and make important decisions about launching their startup.

Of course, you can use both methods if you want. Many entrepreneurs start with a business model canvas to give them a “jump start” and then flesh out a traditional business plan further down the road.

(Disclosure: SCORE is a client of my company.)

I am CEO of GrowBiz Media, a media and custom content company focusing on small business and entrepreneurship. Email me at  [email protected] , follow me on Twitter  @Rieva , and visit my website  SmallBizDaily.com  to get the scoop on business trends and sign up for my free TrendCast reports. Read all of  Rieva Lesonsky’s articles .

RELATED:  Don’t Waste Time on a Startup Business Plan—Do These 5 Things Instead

This article was originally published on AllBusiness .

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2 Alternatives To Kickstart A Traditional Business Plan

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Writing a traditional business plan is unarguably an integral part of planning a small business -- particularly when you’re looking for funding – but there are two other (faster) alternatives to formally stating the essence of your new company.

Take a look at a Business Model Canvas or a Business Concept Statement, not as substitutes for making a detailed business plan but as alternatives that either serve as a “stepping stone” to a traditional plan or just a faster way to hash out the viability of a concept.

“In the early stages of your business’s development, you’ll hear from plenty of experts and prognosticators who will emphasize the need to create a sound, air-tight business plan,” writes Bridget Weston, acting CEO of the SCORE Association, in a post on the organization’s website.

And yes, while a business plan is an important tool for startups to define a strategy and detail the deliverables for stakeholders and developing cashflow forecasts for investors, there are also benefits in creating a Business Concept Statement. 

Business Concept Statement

Weston sees the Business Concept Statement as a way for entrepreneurs to “crystallize the idea behind the business.” Think of it, she says, as a tool to distill your voluminous business plan into a handy one- or two-page document.

“Not only does it lay the groundwork for the business plan to come, it also refines your idea, outlines the consumer problem it aims to solve, and discusses how the idea will fit into the overall market,” Weston writes for SCORE. “It’s a snackable snapshot you can share with investors, lenders, and/or future partners.”

It may be brief version of a plan but the Business Concept Statement still needs to provide a thoughtful analysis of your idea, she says, along with a glimpse into the existing market and how your product/service is distinguishable from the rest of the market.

The sections in your Business Concept Statement include The Market Need for your product or services, Your Proposed Business Model, Your Unique Value Proposition and A Succinct Competitive Analysis.

Business Model Canvas

Another format entrepreneurs can use to speed up the business planning process is the Business Model Canvas. 

“Just keep in mind this format isn’t an excuse for neglecting the details of planning your startup,” writes Rieva Lesonsky, CEO of GrowBiz Media, in a Forbes blog.

And further, she says, if you’re trying to get a bank loan, angel capital or venture capital, you’ll still need to have a traditional business plan ready to show the financing source.

“But if you have sufficient startup capital on your own, there’s no law saying that you have to follow the traditional business plan format,” she adds.

There are several versions of a Business Model Canvas out there but basically it’s a visual chart with elements describing a firm’s or product’s value proposition, infrastructure, customers and finances.

The Business Model Canvas was created by Alex Osterwalder and Yves Pigneur, according to Braden Kelley, director of Design Thinking, Innovation and Transformation at Oracle. There’s also the Lean Canvas created by Ash Maurya and other minor variations in the marketplace, he says.

At their core, the purpose is the same, Kelley writes in a post for Innovation Excellence, an online global innovation community.

 “The Business Model Canvas and the Lean Canvas seek to help entrepreneurs, intrapreneurs and innovators quickly explore the desirability, feasibility and viability of their ideas in a more visual and collaborative way,” says Kelley.

The Business Model Canvas can work for entrepreneurs in a time crunch – when a traditional plan will take too long. There might be an opportunity that needs to be acted on immediately, i.e., you’re competing for a lease on a prime space for your retail or restaurant business, or you want to get your new app or invention on the market before a competitor. 

It’s a “high-level view” of your business idea, Lesonsky says, focusing on the key elements you need to make it viable. It can be created on paper, a whiteboard or through a business model canvas app.

The one-page chart-form document covers nine building blocks: key partners, activities and resources, as well as unique value proposition, customer segments, customer relationships, channels for distribution, cost structure and revenue streams.

“Many entrepreneurs start with a Business Model Canvas to give them a jump start and then flesh out a traditional business plan further down the road,” Lesonsky says.

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25 Overused Business Words With Alternatives

by Cathy Miller | Mar 20, 2020

• This post consistently tops my most visited posts
• Many of you offered your own selections
• There are so many choices, so little time

Business words and phrases leap from creative to trite faster than you can say value proposition. And because one of my visitors asked for an alternative, I added value proposition to the list.

The overworked words worm their way into communication crevices, spilling into clumps of cliché.

You try to avoid them. But what if your boss (even if that’s you) needs that business communication NOW.

Overused business words prey on those weak moments when your brain shuts down or deadlines loom.

So, I’ve updated the list and alternatives. I threw in a few bonus words. Pretty soon I am going to have to expand the list beyond 25.

Obliterating Overused Business Words

We all have our pet peeves when it comes to the words we love to hate. At times, I feel sorry for them.

• Some were solid words or phrases
• Others were pretentious from the start
• Many evict passion of love or hate

Even the alternatives become overused. My preferred choice is to use figurative descriptions, so I’ve thrown in a few examples of those.

(Listed alphabetically)

1. At the end of the day

This phrase exhausts me. At the end of the day, we have so much to do with whatever follows at the end of the day .

• Possible alternative  − Ultimately, finally
• Example  −  At the end of the day , this option is the better choice −  Ultimately, this option is the better choice. (Or for the adverb-phobic, just go with This option is the better choice).

2. Best-of-Breed

Best-of-breed started in the information technology (IT) world. Well, maybe the dog world, but the IT business world snatched it.

It means purchasing software from various vendors to have the best available for each application. Like so many of our overused words, the phrase crossed over into other business applications.

Do you picture the Westminster Kennel Club dog show when you hear best-of-breed applied to business consulting? Or is that just me?

• Possible alternative  − Specialists, experienced professionals, accomplished
• Example  − We offer best-of-breed  logistics management consulting − Our accomplished professionals specialize in logistics management for small companies.

Asking customers for their buy-in sounds like an added charge on their invoice.

• Possible alternative  − Agreement, commitment
• Example  − If we have your buy-in , we’ll move on to the next phase − If we have  agreement , we’ll move on to the next phase.

4. Circumvent

Circumvent is a fancy way of saying avoid or go around. Not a bad word; however, I prefer a more direct route (bad pun intended).

• Possible alternative  − Avoid, overcome
• Example  − We can circumvent  the problem with better communication − We can avoid/overcome  the problem with better communication.

5. Core competency

Have you had this phrase thrown at you during an employee evaluation? You may have seen it on an About page for a company’s website. It makes me think about building up my abs. Not necessarily a bad thing.

• Possible alternative  − Specialize in… (describe), distinguished, excel
• Example  − XYZ Company’s core competency is its design process − XYZ Company excels in its design process (explain how).

6. Cutting edge

Color me strange but I do not find being on the cutting edge an enviable place to be. Images of blood (especially my own) are not my idea of a good time. They are better left for Stephen King.

• Possible alternative  − Leading, progressive, streamlined
• Example  − The cutting-edge technology cuts production costs in half (ouch) − Our streamlined technology will have you doing a happy dance over increased production.

7. Deep dive

Do you really want the phrase deep dive associated with your business? Instead of the analytical, thoughtful image you want to convey, it sounds like your business is going south fast. (Is going south overused, too?)

• Possible alternative  – Analyze, study, explore
• Example – Let’s take a deep dive into the data to come up with a solution – We’ll study the data and see what options make the most sense for you.

As much as businesses want to engage customers (or employees), you would think the diamond business would be booming.

• Possible alternative  – Fascinate, immerse, involve, entice
• Example  – Human resources needs to engage employees in the success of the business – What will entice employees in caring about the business?

9. Facilitate

Facilitate means making things easier. So, why not make the word easier, too?

• Possible alternative  − Help, ease, make possible
• Example  − Our company facilitates enrollment through simple technology − Our company eases enrollment through simple technology.

10. Game-changing

The flaw in many overused business words is we beat them to death. We use them in situations that are not game-changing. Even the best words lose their effectiveness.

• Possible alternative  − Transform, make a difference
• Example  − This game-changing product is unlike any product out there − Our mesmerizing product transforms the way you do XYZ.

11. Get on the same page

I know what you’re thinking. Why would a writer not want to use a phrase about getting on the same page? And, yes, I’ve used it. Many, many times. Whoops.

• Possible alternative  − Agree, support
• Example  − If all parties get on the same page , we can sign the contract − If we all agree to the terms, we can sign the contract.

12. Get your ducks in a row

Have you ever tried getting ducks to line up? Neither have I. But, it could be amusing.

• Possible alternative  – Review your options, organize
• Example  – You need to get your ducks in a row before applying for that job – You should review your options before applying for the job.

13. Going forward

When I hear this phrase, my Shoulder Satan shouts, but I want to go backward.

• Possible alternative  − Continue, in the future (or eliminate the going forward phrase)
• Example  − This will be our new process going forward  − This will be our new process.

14. Innovative

This used to be a great word. Then it lost its innovation.

• Possible alternative  – New, reinvented, reimagined, distinctive (or describe what’s different)
• Example  − Our innovative approach… − We take a different approach (describe) – We reimagined the way users do X.

15. Low hanging fruit

Talk about a visual. Giving the benefit of the doubt, I guess that’s a good thing. But then why does this phrase annoy so many people?

• Possible alternative  – simplest options, easy access
• Example  – If we eliminate the low hanging fruit , we’ll get a jump on the project. – Let’s start by choosing the simplest options .

16. Paradigm shift

Remember those pet peeves? Doesn’t this sound like Greek mythology? Don’t you wish it would fade into ancient history?

• Possible alternative  − Pattern change, significant change
• Example  − There has been a paradigm shift in how we view communication − Our pattern of communication  changed significantly .

17. Proactive

This overused business word causes a reactive response of disgust.

• Possible alternative  – Enthusiastic, dedicated, tackle
• Example  – We took a proactive approach to solving our client’s problems − We tackle our client’s problems from the start…

18. Push the envelope

This term has its origin in math . As math-challenged as I am, I will not attempt to explain it but for those who like that kind of thing, click on the previous link.

• Possible alternative  − Take a risk, expand, try something new (insert description of what’s new)
• Example  − The team excels at pushing the envelope of design − The team challenges “how we’ve always done it” by trying new designs.

19.Raise the bar

Except if you are a pole vaulter, this is an overworked phrase you should eliminate.

• Possible alternative  − Elevate, higher standard
• Example  − We need to raise the bar on performance. − We need a higher standard for measuring performance.

20. Reach out

The creators of this phrase probably hoped we’d picture a hand extended in a helpful gesture. Me? I picture a hand reaching out from behind a cage, begging for escape from overused business words.

• Possible alternative  − Assist, support, ask, recruit, enlist
• Example  −  Reach out to the customer to offer assistance − Assist the customer by offering her options.

21. Run the numbers

Where exactly do we want the numbers to run to? And why?

• Possible alternative  − Price, calculate
• Example  − Let me run the numbers so we know what we’re dealing with − I’ll calculate the cost of the project for you.

22. Take ownership

Why does the repossession of a car pop into my head? And is that the picture you want customers to have when you use the phrase?

• Possible alternative  – Initiative, take responsibility, show a commitment
• Example  – If no one takes ownership , we’ll never get the project off the ground− Mary took the initiative to do whatever needed to be done.

23. Think outside the box

Maybe it’s just me (probably) but I hated this phrase from the start. If I was trapped inside the box, wouldn’t I have to think how to get outside? Or am I over-thinking it?

• Possible alternative  − Imaginative, resourceful, different, creative
• Example  − Let’s see if we can think outside the box on this account − Let’s be resourceful and find a different way to solve this problem.

24. Thought leadership

My visual mind sees a parade of words following a drum major. The scene does not inspire the critical thinking the phrase intended. And doesn’t it sound a tad arrogant?

• Possible alternative  – Different, new perspective
• Example  – We will provide the kind of thought leadership that helps your business succeed. – We help you gain a new perspective on evaluating your business.

25. Value proposition

I remember the first time I heard this term. My immediate thought was – what the heck does that mean? It’s one of my most hated corporate-speak terms.

• Possible alternative − benefit, differentiator, gain
• Example − This product’s value proposition is increased productivity with fewer errors − You gain greater productivity and accuracy with a single click.

Bonus Words

Win-win situation.

This was on my original list. The addition of more overused words bumped it into bonus status.

Win-win. I wonder if anyone uses the business phrase lose-lose.

• Possible alternative  − Mutually rewarding, beneficial, accommodation, work for both
• Example  − This approach creates a win-win situation for both of us – If we compromise on this point, it should work for both of us.

Pick your brain/brainstorming

I have to agree with reader, Marilyn Grossman. The use of either of these words makes me shudder at the picture in my head.

Marilyn asked for alternatives. I came up with the following and those found in my response to her Comment. Do you have others?

• Possible alternative − Hear your thoughts, benefit from your experience, share/explore ideas
• Example 1 − Could I pick your brain about this project? – I’d love to hear your thoughts on this project.
• Example 2 − Let’s do some brainstorming . – Let’s get together to share some ideas – or – explore other options.

Overused and Exhausted

Are you as exhausted as I am? I am not a fan of following the crowd or making absolute statements. Business words and phrases rely on presentation. Some work. Some don’t.

• Consider the context
• Use simple and clear words
• Cut out what doesn’t work

I know you have business words or phrases to add to the list. Please share those in Comments.

We had great comments when this first posted on May 19, 2014 and on its updated version on August 9, 2017. How about a little proactive competition to raise the bar on comment performance? 🙂

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46 Comments

How about ‘my mind is blank.’ Not exactly business related, although it can be… but my state as I look to find another cliche… I guess I’m not in ton of business conversations these days.

Ha! Works for me, Anne. Sometimes that phrase is too accurate for me. 😉

Great list Cathy. I agree that most of these are definitely overused, but there are still a few that are in my vocabulary, like win-win.

John, that’s the sad part for me. There are some business words or phrases that work. It’s only their overuse that makes us shy away at times. I hate blanket labels. I’d say we’re each unique but apparently unique is considered an overworked word. 😀

Cathy, Thanks so much for this article. I agree with these overused words, but have had some trouble coming up with suitable alternatives for some of them.

Your article was a blessing and has helped me immensely with a lead generation tool that I’m rewriting now for a client.

Thanks again for the article and here’s to your continued success! Steve

Hi Steve. I’m glad I could help. I figured a list without alternatives is just whining. 😉 I appreciate you stopping by.

Great examples Cathy! 🙂

I don’t say “run the numbers” much, but I say “crunch the numbers” far too often. I have no idea why. But apparently I love the phrase. I usually use it when talking to freelancers about setting their rates or in my own notes or chats with my hubby in reference to figuring out business goals.

Of course, I never overuse words. 😀 I still like many that have become overused but I try to refrain from peppering them everywhere. Never liked pepper much anyway. 😉

Thanks, Jenn.

I think one of the most overused expressions is “pick your brain” and brainstorming. Pick your brain is disgusting image, yet it pops up all the time. Alternate suggestions? Thanks.

LOL, Marilyn. You make an excellent point. 😀 Some thoughts on alternatives ~

I’d love to know your thoughts on [fill in the blank] I’d love to hear more about what you think I know you are an expert in this area. What do you think? Can you recommend some resources?

Makes the person feel a lot better than they would if you “picked their brain”.

Thanks for a great comment, Marilyn. 🙂

Revised or not, your list reads like nine out of ten bad resumes and poorly-written executive bios I’ve had to rewrite over the years!

One day I may try to string a sentence together using only buzzwords.

I’ll admit, Paula, they are easy to fall back on. I try to raise my awareness level in hopes my screen reaches out and slaps my typing hands. 😉

You’re so good at spotting these phrases Cathy! Thanks.

It helps when you hear them over and over, Anne. 😉

Honestly never thought from this angle, I have used these phrases as I thought they have always been there and sounded cool, never realized they could have better sounding synonyms also. Very interesting read! thanks!

Glad you found it helpful. Adam. Like I said in the post, I am not fond of “absolutes” so I think some work as long as they are not overdone. Thanks for your thoughts, Adam.

I’m guilty of some of these (as a southerner, I’ve always tried to get my ducks in a row). A lot of them just sound like marketing BS and are a turnoff to hear. Thanks for the challenge to dig a little deeper for better words!

So good to see you here, Carrie. I’m a big fan of yours. You touched a soft spot in me. My dad was a southern gentleman and I often quote his “southernisms.” So, you’ll always skate by on those (in my view). 😉

The word that I think is currently overused is “Team.” In some companies trying to be modern and “cool” it is universally embraced to replace traditionally used more dignified and respectable terms like “Staff” and “Project members” or “Crew” or even “Employees.”

I’ve seen people in places where I am doing business literally groaning when they hear it used or when they read it used as part of the salutory line in an email. Many of the most productive people in many businesses have as a primary attribute that they are simply “not team players.”

Oh, that’s a good one, Andy. Thanks! 🙂

I started noticing the spread of “reach out to” when watching crime series on channels like Investigation Discovery. It doesn’t even seem to mean anything as specific as “assist”, but quite simply “get in touch with”, “make contact with” (or just “contact”, or “phone”). You hear police officers saying things like “we’ve reached out to the deceased’s family to find out if he had any enemies” or “we’d better reach out to the hospital to find out if the victim’s still alive”. What ever was wrong with the original, plain English phrases? Perhaps it’s supposed to make the police sound like, you know, totally caring and full of empathy….

I wonder how much has come as a result of TV. They may not invent it, but they do perpetuate it. Thanks for the example, Kevin.

When I worked as an admin assistant, I always heard, “Let’s touch base,” and it drove me nuts! Sorry, I’m not touching YOUR base!!

😀 I don’t blame you, Angela. 😉

Angela – I agree. That one is really annoying.

Great list, Cathy. Can you add a section to your list for alternatives for “Value Proposition”? The word “proposition” to me either gets confused with “preposition”, or it’s part of an unwholesome interaction. Not exactly how I want to speak with a customer.

Hi, Gary. Sorry for the delay in responding. I’ve been smack dab in a redesign of the site. I can’t believe I didn’t already have “value proposition” as it’s one I hate. However, I did use it in the opening. So much corporate speak, so little time. 😉 Thanks for adding that to the list, Gary.

“Start a conversation.” Can we please. Just. Stop. 🙂

Another good one, Bob. 🙂 I’ve also heard the term “conversate.” As someone who does like on occasion to convert nouns to verbs, I still have to say, “Seriously? Can we just talk?” 🙂

Thanks for sharing your example, Bob.

That’s hilarious! Thanks for sharing (and for the laugh)!

You forgot “awesome”, “too easy”, ‘ticks all the boxes”, “moving forward” (a variation on “going forward I know). And let’s not forget the pretentious people who talk about working in a “space” , and those who insist on asking questions “around” an issue instead of “about”. These last two have me reaching for a sharp knife.

Some great additions, Stephen. 🙂 Like I said, this list could be soooo much longer. I get a mental image of an old West movie circling the wagons in the “asking questions around an issue.” 😉 Thanks for sharing your personal pet peeves.

I was at a party at the home of my friend’s brother. In a rambling monologue, our host used my three least favorite overused expressions. “When all’s said and done,” “At the end of the day” and “It is what it is.” After he uttered the third expression, I yelled “Bingo!” After explaining my outburst, I was not invited back.

Thanks for sharing your “least favorite,” Eric. I can’t imagine why they would object. 😉

I’m currently seeking my next career opportunity. When I read, “ cross-functional” teams or “collaborate with (stakeholders)”, I truly want to jump onto train tracks. These two overused words are in at least 70% of job ads/descriptions. Wouldn’t it be clear to say, “play well with others like we all learned in kindergarten”?

Thanks for the addition, Sue. Ah, corporate speak. Don’t you love it? 😉 I appreciate you stopping by.

Love your list and the additions in the comments. One of my least favorite words is “awesome,” and I seem to see it everywhere. Eric William Benson’s additions could be my own – I completely agree!

Thank you for the kind words, Marte. True confession – I tend to use “awesome” quite a bit. However, I don’t think I use it in business communication, more in my personal communication. I think. 🙂 In any event, I appreciate your input.

This article is a few years old, so this comment is quite late, but I laughed (or cringed?) at all of these. Being the primary editor for my organization, I have seen far too much of them. Others I would add to my list of most hated overused phrases are: “utilize” (“use” suffices), “impact” as an active verb* (how about “affect”?), “run it up the flagpole”, “send it up the chain”, “drill down”, and “hit the ground running.”

*”Impact” comes from the Latin perfect passive participle “impactus”, which is used as a noun or adjective form of the verb “impinge” (to drive/pound in, to hit against). That is, after I have impinged on my boss’ time, he has been impacted, and I have made an impact on his calendar. Not only is impact as an active verb not the right form of the word, but to use it to mean “affect” is most often incorrect because most of the effects for which people use the word aren’t the kind that happen by being hit.

Common example: The boss says in a performance appraisal, “Your performance has been so stellar that you’ve really impacted our bottom line.” How, precisely, does it fit to say that the employee has hit/pound/driven against the bottom line? It’s really the opposite.

It is never too late to add your most hated overused phrases, Trish. 😉 At least I know this post is still popping up in searches. Utilize is one of those words that I file in the pretentious category. I agree, use works just fine, thank you very much. 🙂 And despite my beloved Merriam-Webster telling us, yes, impact can be used as a verb, I find myself still avoiding that use. However, I do agree with them that meanings and use do evolve but I still don’t think I’ll use impact as verb. LOL!

Thanks for stopping by and sharing your thoughts, Trish!

Well, when they say “evolve,” I think this is code for “get misused so much that grammarians throw in the towel and capitulate rather than fight it.” 😉

LOL! I suspect you’re right, Trish. 🙂 Several years ago I wrote this post on my personal blog. https://www.millercathy.com/real-words/ Check out the Ted Talk if you have the time. Thanks for the discussion, Trish.

I need another phrase for ‘at a high level’ or ‘lets discuss this at a high level’ …. the context is when preparing reports for upper management. we have to condense alot of information into a few slides but the normative way of speaking is ‘at a high level’

Hi, Gaye. In my facilitator training days, we had another “corporate speak:” term for that. The facilitator of a meeting would ask, “Can you headline that for me?” Nothing like replacing one overused term with another. 😀

I don’t know if this works for you, Gaye, but I would say we need to create a snapshot of the key points on a few slides (even better if you give them a number, e.g. 2-3 slides) so the executives can review it. ¯\_(ツ)_/¯

Hope that helps. 🙂 Thanks for stopping by.

I am writing a book about buzzwords and other 21st Century clichés, and I enjoyed reading the article and comments. One word that especially irks me is “narrative.” Aargh!

😀 We each have at least one word or phrase that pushes our button.Your book should be an entertaining read, Rob. The toughest part will be choosing what to include. Our options are endless. 🙂 Thanks for sharing, Rob, and best of luck with the book!

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Business Plan Alternatives

Discover innovative approaches to strategic planning with our document on Business Plan Alternatives. Explore non-traditional planning methodologies, collabo...

Business Plan Alternatives: Exploring Innovative Approaches to Strategic Planning

In the ever-evolving and dynamic business landscape, traditional business plans may not always be the most effective tool for guiding the growth and success of a company. As entrepreneurs and business owners seek more flexible and adaptable planning methodologies, the concept of "business plan alternatives" has emerged as a game-changing approach.

Understanding the Purpose of a Business Plan

Before delving into the realm of alternative planning approaches, it's essential to grasp the purpose and significance of a traditional business plan. Traditionally, a business plan serves as a comprehensive document that outlines a company's goals, strategies, and financial projections. It is often used to secure funding, attract investors, and provide a roadmap for business operations.

However, despite its long-standing reputation, the traditional business plan does have its limitations. It is often a time-consuming and resource-intensive process, requiring extensive research, analysis, and documentation. Moreover, the rapidly changing business environment makes it challenging to predict and account for all the variables that may impact a company's success.

Exploring the Need for Business Plan Alternatives

In light of these limitations, many entrepreneurs and business professionals have started exploring alternative approaches to strategic planning. These alternatives offer more flexibility, adaptability, and creativity, allowing businesses to respond to changes in the market more effectively.

The need for business plan alternatives arises from several factors. Firstly, not all businesses fit the traditional mold. Startups, particularly those in the technology sector, often face uncertainty and ambiguity, making it difficult to create a detailed and accurate business plan. Additionally, businesses operating in fast-paced and disruptive industries may find that traditional planning methods are too rigid and slow to keep up with the rapidly evolving landscape.

Furthermore, some entrepreneurs prefer to focus on iterative and experimental approaches rather than developing a comprehensive plan upfront. They believe in learning from failures and adapting their strategies based on market feedback. For these individuals, alternative planning methodologies offer a more agile and dynamic way of navigating the business landscape.

Non-Traditional Planning Approaches

In this blog post, we will explore several non-traditional planning approaches that have gained popularity among entrepreneurs and businesses worldwide. These approaches offer innovative ways to conceptualize, strategize, and execute business plans, providing a fresh perspective that challenges the conventional norms.

Lean Startup Methodology

One of the most widely recognized and influential alternatives to traditional planning is the Lean Startup methodology. This approach, popularized by Eric Ries, emphasizes rapid experimentation, validated learning, and iterative product development.

Unlike traditional business plans that focus on creating a detailed roadmap, the Lean Startup methodology encourages entrepreneurs to build a minimum viable product (MVP) and gather customer feedback early on. By leveraging a "build, measure, learn" feedback loop, businesses can quickly adapt their strategies based on real-world insights, reducing the risk of failure and maximizing chances of success.

Throughout this section, we will explore the principles, methodologies, and success stories associated with the Lean Startup methodology, providing you with a comprehensive understanding of how this alternative approach can revolutionize your strategic planning process.

Business Model Canvas

Another powerful tool in the realm of business plan alternatives is the Business Model Canvas. Developed by Alexander Osterwalder, this visual framework offers a holistic and concise representation of a company's business model, focusing on nine key building blocks.

The Business Model Canvas provides a more flexible and dynamic approach to planning by encouraging entrepreneurs to visualize and iterate on their business models. By considering various elements such as value proposition, customer segments, channels, and revenue streams, businesses can create a more comprehensive and adaptable strategy.

In this section, we will delve into the intricacies of the Business Model Canvas, explaining each building block in detail and showcasing real-life examples of successful businesses that have utilized this alternative planning approach to their advantage.

Effectuation

Effectuation, a term coined by Saras Sarasvathy, offers a unique perspective on strategic planning by focusing on the mindset and decision-making processes of successful entrepreneurs. Unlike traditional planning, which is based on a predictive approach, effectuation emphasizes entrepreneurial expertise, resourcefulness, and the ability to leverage existing means to achieve desired ends.

Throughout this section, we will explore the principles and steps involved in effectuation and how they differ from traditional planning methodologies. Additionally, we will examine case studies of businesses that have successfully utilized effectuation to navigate uncertainty, seize opportunities, and drive innovation.

Collaborative Planning Approaches

In addition to non-traditional planning methodologies, collaborative approaches to strategic planning have gained traction in recent years. These methods involve engaging multiple stakeholders, leveraging their diverse perspectives, and fostering collective intelligence to develop robust and inclusive business strategies.

Collaborative planning offers several advantages over traditional planning methods. By involving key stakeholders in the planning process, businesses can tap into a broader range of expertise, gain valuable insights, and foster a sense of ownership and commitment. Additionally, collaborative approaches promote effective communication, alignment of goals, and a shared understanding of the company's vision.

In the upcoming sections, we will explore three prominent collaborative planning approaches: Open Source Strategic Planning, Scenario Planning, and Design Thinking. We will delve into the principles, methodologies, and real-world examples associated with each of these approaches, providing you with the knowledge and tools to implement collaborative planning within your own organization.

Open Source Strategic Planning

Open Source Strategic Planning involves opening up the planning process to a diverse group of stakeholders, including employees, customers, suppliers, and even competitors. By leveraging collective intelligence, businesses can tap into a wealth of ideas, perspectives, and expertise, fostering innovation and driving strategic decision-making.

Throughout this section, we will explore the principles and benefits of Open Source Strategic Planning, providing insights into organizations that have successfully embraced this collaborative approach.

Scenario Planning

In an increasingly uncertain and complex business environment, Scenario Planning offers a powerful tool to anticipate and prepare for various future scenarios. Unlike traditional planning, which relies on a single forecast, Scenario Planning involves developing multiple plausible scenarios and creating strategies that are robust across different futures.

By considering a range of possible outcomes and their implications, businesses can adapt their strategies to mitigate risks and seize opportunities. In this section, we will delve into the principles, methodologies, and real-world examples associated with Scenario Planning, equipping you with the tools to navigate uncertainty and make informed decisions.

Design Thinking

Design Thinking, a human-centered approach to problem-solving, has gained popularity in various domains, including strategic planning. By emphasizing empathy, collaboration, and experimentation, Design Thinking enables businesses to identify customer needs, develop innovative solutions, and create unique value propositions.

Throughout this section, we will explore the key stages and methodologies involved in Design Thinking, showcasing how businesses have leveraged this approach to drive creativity, innovation, and customer-centricity.

Technology-based Planning Tools

In today's digital era, technology plays a pivotal role in transforming the way businesses plan and strategize. Various software tools and online collaboration platforms have emerged, offering innovative solutions to streamline the planning process, enhance collaboration, and leverage data-driven insights.

In this section, we will explore two categories of technology-based planning tools: Business Planning Software and Online Collaboration Platforms. We will discuss the features, functionalities, and benefits of these tools, empowering you to select the right technology to support your planning endeavors.

Business Planning Software

Business Planning Software offers a comprehensive set of features to simplify and streamline the planning process. These tools often include templates, financial modeling capabilities, scenario analysis, and reporting functionalities, enabling businesses to create professional and data-driven business plans.

Throughout this section, we will explore popular Business Planning Software options, highlighting their key features and discussing the pros and cons of utilizing such tools.

Online Collaboration Platforms

Effective collaboration is essential for successful planning. Online Collaboration Platforms provide businesses with the means to engage stakeholders, share information, and foster collaboration in a virtual environment. These platforms often include features such as document sharing, real-time communication, project management, and version control.

In this section, we will explore popular Online Collaboration Platforms, outlining their functionalities and benefits, and providing tips for effective utilization.

Evaluating the Right Approach for Your Business

With a wide array of alternative planning approaches at your disposal, it is crucial to evaluate and select the right approach that aligns with your business goals, resources, and stage of development. In this section, we will discuss the key considerations for choosing the most suitable planning approach for your business.

We will explore factors such as alignment with business objectives, resource availability, budget constraints, and the current stage of your business. By considering these factors, you can make an informed decision and select the planning approach that best suits your unique needs.

Furthermore, we will discuss the potential benefits of combining multiple planning approaches to create a customized solution. By integrating different methodologies, businesses can leverage the strengths of each approach and develop a holistic and robust planning process.

Implementing and Monitoring the Chosen Approach

Selecting the right planning approach is just the first step. Successful implementation and continuous monitoring are crucial to ensure the effectiveness and relevance of your chosen approach. In this section, we will outline the steps to implement the chosen planning approach and provide tips for monitoring progress and evaluating its effectiveness.

We will discuss tools and techniques to track key performance indicators, gather feedback, and make data-driven adjustments to your planning process. By adopting a continuous improvement mindset, businesses can adapt their strategies and stay ahead of the competition.

Conclusion: Embracing Business Plan Alternatives for Success

In conclusion, traditional business plans are no longer the only path to success in today's rapidly changing business landscape. By exploring alternative planning approaches, businesses can foster innovation, adapt to uncertainty, and create strategies that are agile, flexible, and responsive.

In this comprehensive blog post, we have delved into various non-traditional planning methodologies, collaborative approaches, technology-based planning tools, and the process of evaluating and implementing the right planning approach for your business. By embracing these alternatives, you can unlock new possibilities, drive growth, and chart a successful course for your organization.

So, step away from the traditional norms, embrace innovation, and embark on a transformative journey of strategic planning with business plan alternatives.

Introduction to Business Plan Alternatives

In today's ever-changing business landscape, entrepreneurs and business owners are constantly seeking innovative approaches to strategic planning. Traditional business plans, while valuable in certain contexts, may not always be the most suitable tool for every business. This realization has led to the emergence of alternative planning methodologies that offer more flexibility, adaptability, and creativity.

A business plan serves as a roadmap for a company's future, outlining its goals, strategies, and financial projections. It is traditionally used to secure funding, attract investors, and guide business operations. However, the traditional business plan has its limitations. It can be time-consuming and resource-intensive to create, often requiring extensive research and documentation. Moreover, the rapidly evolving business landscape makes it challenging to predict and account for all the variables that may impact a company's success.

The need for business plan alternatives arises from several factors. Not all businesses fit the traditional mold, especially startups or those in disruptive industries. These businesses often face uncertainty and ambiguity, making it difficult to create a detailed and accurate business plan. Additionally, some entrepreneurs prefer a more iterative and experimental approach, learning from failures and adapting their strategies based on market feedback. For these reasons, alternative planning methodologies have gained traction as more agile and dynamic ways to navigate the business landscape.

In this blog post, we will explore a wide range of business plan alternatives, providing you with a comprehensive understanding of the various methodologies available. We will delve into non-traditional planning approaches, collaborative planning methods, and technology-based planning tools. By the end of this post, you will have the knowledge and insights to select the right approach for your business and drive its success.

As the need for more flexible and adaptable planning methodologies arises, non-traditional approaches to strategic planning have gained popularity among entrepreneurs and businesses. These alternative methods offer innovative ways to conceptualize, strategize, and execute business plans, challenging the conventional norms and providing fresh perspectives.

One of the most prominent non-traditional planning approaches is the Lean Startup methodology. Developed by Eric Ries, this approach emphasizes rapid experimentation, validated learning, and iterative product development. The Lean Startup methodology encourages entrepreneurs to build a minimum viable product (MVP) and gather customer feedback early on. By employing a "build, measure, learn" feedback loop, businesses can quickly adapt their strategies based on real-world insights, reducing the risk of failure and maximizing chances of success.

The Lean Startup methodology challenges the traditional notion of developing a comprehensive business plan upfront. Instead, it advocates for a more agile and customer-centric approach, where businesses continuously iterate and refine their products or services based on actual customer needs and feedback. By embracing the Lean Startup methodology, businesses can minimize waste, make data-driven decisions, and accelerate their path to success.

Numerous successful companies have adopted the Lean Startup methodology and reaped the benefits. For instance, Dropbox initially started as a simple video demonstration that gained immense interest from potential users. By using this feedback as validation, Dropbox was able to secure funding and develop its product further. The Lean Startup methodology allowed them to focus on learning from their users and refining their offering, ultimately leading to their remarkable success.

Throughout this section, we will explore the principles, methodologies, and case studies associated with the Lean Startup methodology. By understanding and implementing this alternative planning approach, businesses can navigate uncertainty, innovate efficiently, and increase their chances of achieving sustainable growth.

Another alternative planning approach that has gained significant attention is the Business Model Canvas. Developed by Alexander Osterwalder, the Business Model Canvas is a visual framework that allows businesses to outline and iterate upon their business models in a concise and comprehensive manner.

The Business Model Canvas consists of nine key building blocks that cover various aspects of a business, including customer segments, value propositions, channels, customer relationships, revenue streams, key activities, key resources, key partnerships, and cost structure. By considering each building block and their interdependencies, businesses can create a holistic view of their business model and identify areas for improvement or innovation.

What sets the Business Model Canvas apart from traditional business plans is its emphasis on flexibility and adaptability. Rather than providing a static and detailed roadmap, the Canvas allows businesses to experiment with different configurations, iterate on their business model, and respond to market feedback and changing conditions.

One of the advantages of using the Business Model Canvas is its ability to foster collaboration and alignment within an organization. By bringing together key stakeholders, such as executives, managers, and employees, to collectively fill in the Canvas, businesses can ensure that everyone has a shared understanding of the business model and can contribute their unique perspectives and insights.

Numerous successful companies have utilized the Business Model Canvas to drive innovation and strategic decision-making. Airbnb is a notable example. By utilizing the Canvas, Airbnb was able to identify the untapped potential in the vacation rental market and redefine the way people travel and experience accommodations. The Canvas allowed them to visualize and refine their business model, leading to their exponential growth and disruption of the hospitality industry.

Throughout this section, we will delve into the intricacies of the Business Model Canvas, explaining each building block in detail and showcasing real-life examples of successful businesses that have utilized this alternative planning approach. By leveraging the Business Model Canvas, businesses can gain a deeper understanding of their value proposition, target market, and revenue streams, enabling them to make informed strategic decisions and stay ahead in today's competitive business landscape.

In the realm of business plan alternatives, effectuation stands out as an approach that focuses on entrepreneurial expertise, resourcefulness, and leveraging existing means to achieve desired ends. Coined by Saras Sarasvathy, effectuation offers a different perspective on strategic planning by emphasizing the mindset and decision-making processes of successful entrepreneurs.

Unlike traditional planning approaches that rely on predictive reasoning and extensive market research, effectuation starts with the available resources, the entrepreneur's unique set of skills, and the immediate context. It embraces uncertainty and takes a more iterative and experimental approach to developing and refining business strategies.

Effectuation operates on five key principles: the bird-in-hand principle, affordable loss, the lemonade principle, the crazy quilt principle, and the pilot-in-the-plane principle. These principles guide entrepreneurs in making decisions and taking actions based on what they can control rather than trying to predict the future.

The bird-in-hand principle encourages entrepreneurs to start with their existing means and resources, leveraging what they have rather than waiting for ideal conditions or extensive resources. The affordable loss principle advises entrepreneurs to take calculated risks and only invest what they can afford to lose, avoiding excessive risk-taking that could jeopardize the overall business.

The lemonade principle encourages entrepreneurs to embrace surprises and turn unexpected challenges into opportunities. By being adaptable and open to change, entrepreneurs can creatively pivot their strategies to address emerging market needs. The crazy quilt principle emphasizes the importance of building strong networks and partnerships, leveraging the diverse skills and resources of others to create value. Finally, the pilot-in-the-plane principle highlights the need for entrepreneurs to stay in control and take personal responsibility for their actions, rather than relying solely on external market forces.

Effectuation differs significantly from traditional planning methodologies as it embraces uncertainty and encourages entrepreneurs to co-create the future through their actions. Instead of trying to predict and control the market, effectuation empowers entrepreneurs to shape and influence their business environment actively.

Numerous successful entrepreneurs have embraced effectuation and achieved remarkable results. For example, the story of Slack, the popular team collaboration tool, exemplifies the principles of effectuation. Initially developed as an internal communication tool for a gaming company, Slack gained traction and popularity through word-of-mouth referrals. Slack's founders leveraged their existing resources, focused on creating value for users, and iteratively refined their product based on customer feedback. This effectual approach allowed Slack to become one of the fastest-growing software companies in history.

Throughout this section, we will explore the concept of effectuation, its key principles, and the steps involved in applying this alternative planning approach. Additionally, we will examine case studies of businesses that have successfully utilized effectuation to navigate uncertainty, seize opportunities, and drive innovation. By adopting effectuation principles, entrepreneurs can foster a mindset of resourcefulness, adaptability, and entrepreneurial action, leading to increased chances of success in the ever-changing business landscape.

In addition to non-traditional planning methodologies, collaborative approaches to strategic planning have gained significant traction in recent years. These methods involve engaging multiple stakeholders, leveraging their diverse perspectives, and fostering collective intelligence to develop robust and inclusive business strategies.

Collaborative planning offers several advantages over traditional planning methods. By involving key stakeholders in the planning process, businesses can tap into a broader range of expertise, gain valuable insights, and foster a sense of ownership and commitment. Moreover, collaborative approaches promote effective communication, alignment of goals, and a shared understanding of the company's vision.

In this section, we will explore three prominent collaborative planning approaches: Open Source Strategic Planning, Scenario Planning, and Design Thinking. These approaches empower businesses to harness the collective wisdom and creativity of their teams, resulting in more innovative and resilient strategies.

The Open Source Strategic Planning approach challenges the notion that planning should be confined to a select group of executives or managers. Instead, it recognizes that valuable insights and ideas can come from unexpected sources. By involving a wide range of stakeholders, businesses can gather diverse perspectives, identify blind spots, and uncover new opportunities.

Open Source Strategic Planning often involves facilitated workshops, brainstorming sessions, and collaborative platforms to ensure effective participation and idea generation. By creating an inclusive and transparent planning process, businesses can foster a sense of ownership and commitment among stakeholders, leading to increased engagement and alignment.

Several organizations have successfully embraced Open Source Strategic Planning to drive innovation and achieve strategic objectives. For example, LEGO, the renowned toy company, launched the LEGO Ideas platform, which allows fans and enthusiasts to submit their design ideas for new LEGO sets. By involving their customers in the planning process, LEGO tapped into the creativity and passion of their fan base, resulting in the development of popular LEGO sets that resonated with their target market.

Throughout this section, we will explore the principles and benefits of Open Source Strategic Planning, providing insights into organizations that have successfully embraced this collaborative approach. We will also discuss strategies for effectively implementing Open Source Strategic Planning within your own organization, ensuring that you can leverage the collective intelligence of your stakeholders to drive innovation and achieve strategic goals.

In an increasingly uncertain and complex business environment, scenario planning has emerged as a powerful tool for strategic planning. Unlike traditional planning approaches that rely on a single forecast, scenario planning involves developing multiple plausible scenarios and creating strategies that are robust across different futures.

The fundamental premise of scenario planning is that the future is uncertain and unpredictable. By considering a range of possible outcomes and their implications, businesses can prepare themselves to adapt their strategies to different scenarios. This proactive approach enables businesses to mitigate risks, seize opportunities, and make informed decisions in an ever-changing landscape.

The process of scenario planning typically involves several key steps. The first step is to identify the critical uncertainties that have the potential to significantly impact the business. These uncertainties could be related to technological advancements, regulatory changes, market trends, or geopolitical shifts. Once the uncertainties are identified, multiple scenarios are developed based on different combinations of these uncertainties. These scenarios represent different possible futures, each with its own set of opportunities and challenges.

The next step is to analyze the implications of each scenario on the business. This involves assessing the potential impact on various aspects such as market demand, competition, supply chain, and financials. By understanding the potential outcomes and their implications, businesses can develop strategies that are robust and adaptive across multiple scenarios.

Scenario planning is not about predicting the future with certainty; rather, it is about building resilience and flexibility into business strategies. It allows businesses to be better prepared for a range of plausible futures and make informed decisions in the face of uncertainty. By considering a broad spectrum of possibilities, businesses can identify early warning signals, spot emerging trends, and position themselves strategically in the market.

Several organizations have successfully utilized scenario planning to navigate uncertainty and drive their success. Royal Dutch Shell, for example, has been employing scenario planning since the 1970s to anticipate and adapt to changes in the global energy landscape. By developing scenarios that explore different geopolitical, economic, and technological factors, Shell has been able to make strategic decisions that have positioned them as a leader in the energy industry.

Throughout this section, we will delve into the principles, methodologies, and real-world examples associated with scenario planning. By incorporating scenario planning into their strategic planning process, businesses can enhance their ability to anticipate change, identify strategic options, and make proactive decisions to thrive in an uncertain and dynamic business environment.

Design Thinking is a collaborative planning approach that puts human needs and experiences at the forefront of the planning process. Originating from the world of product design, Design Thinking has gained popularity as a strategic planning methodology that fosters creativity, innovation, and customer-centricity.

At its core, Design Thinking revolves around empathy, collaboration, and experimentation. It encourages businesses to deeply understand the needs and desires of their customers, challenge assumptions, and ideate creative solutions. By adopting a human-centered approach, Design Thinking enables businesses to develop products, services, and strategies that truly resonate with their target audience.

The Design Thinking process typically consists of five stages: empathize, define, ideate, prototype, and test. In the empathize stage, businesses seek to understand the perspective of their customers by conducting interviews, observations, and empathy exercises. This deep understanding helps businesses identify unmet needs and uncover valuable insights.

Next, in the define stage, businesses synthesize the information gathered during the empathize stage to define the problem or opportunity they aim to address. This stage involves reframing the challenge in a way that focuses on the needs and aspirations of the end-users.

In the ideate stage, businesses generate a wide range of ideas and potential solutions. This stage encourages brainstorming, free thinking, and collaboration to come up with innovative and out-of-the-box concepts. No idea is considered too wild or unrealistic during this stage, as it is about exploring possibilities and pushing boundaries.

Once a set of ideas is generated, the prototyping stage begins. This involves creating tangible representations of the ideas, such as mock-ups, sketches, or even interactive prototypes. Prototypes are used to quickly test and gather feedback from end-users, allowing businesses to refine and iterate on their ideas.

The final stage of the Design Thinking process is testing. In this stage, businesses gather feedback from end-users to evaluate the viability and desirability of the solutions. Through user testing and observation, businesses can gain valuable insights that inform further refinements and improvements.

Design Thinking encourages businesses to embrace a mindset of continuous learning, iteration, and improvement. It emphasizes the importance of rapid experimentation and feedback loops to refine ideas and create solutions that truly meet the needs of the customers.

Design Thinking has been successfully adopted by various organizations, including global companies like Apple and IBM. Apple's commitment to creating user-friendly and aesthetically pleasing products can be attributed to their strong embrace of Design Thinking principles. By deeply understanding their customers' desires, pain points, and aspirations, Apple has been able to develop groundbreaking products that have transformed entire industries.

Throughout this section, we will explore the key stages and methodologies involved in Design Thinking. We will showcase how businesses have leveraged this approach to drive creativity, innovation, and customer-centricity. By adopting Design Thinking principles, businesses can unlock new possibilities, develop user-centered solutions, and differentiate themselves in competitive markets.

Business Planning Software provides businesses with a comprehensive set of features and functionalities to simplify and streamline the planning process. These tools often include templates, financial modeling capabilities, scenario analysis, and reporting functionalities, enabling businesses to create professional and data-driven business plans.

Business Planning Software offers numerous benefits for businesses. It allows for greater efficiency and accuracy in creating and updating business plans, as it automates calculations, provides real-time data integration, and offers centralized storage for easy access. These software tools also enable businesses to perform financial projections, conduct sensitivity analyses, and generate reports that can be shared with stakeholders.

When choosing Business Planning Software, businesses should consider their specific needs, such as the complexity of their financial models, the level of customization required, and the ability to collaborate with team members. Popular Business Planning Software options include LivePlan, Bizplan, and Enloop.

Online Collaboration Platforms offer several advantages for businesses. They facilitate effective communication and collaboration among team members, regardless of their geographical location. These platforms also improve document management and version control, ensuring that everyone is working on the latest version of files. Moreover, they provide a centralized space for discussions, feedback exchange, and task management, enhancing team productivity and alignment.

When selecting an Online Collaboration Platform, businesses should consider factors such as ease of use, security features, integration capabilities with other tools, and scalability. Examples of popular Online Collaboration Platforms include Microsoft Teams, Slack, and Trello.

By leveraging Business Planning Software and Online Collaboration Platforms, businesses can enhance their planning processes, streamline collaboration, and leverage data-driven insights. These technology-based tools provide businesses with the agility, efficiency, and accuracy needed to navigate the complexities of strategic planning in today's fast-paced business environment.

With a wide array of business plan alternatives available, it is crucial to evaluate and select the right approach that aligns with your business goals, resources, and stage of development. While each alternative approach offers unique benefits, not all may be suitable for every business. Consideration of various factors will help you make an informed decision and choose the most effective planning methodology for your specific needs.

Factors to Consider

When evaluating business plan alternatives, several factors should guide your decision-making process:

Alignment with Business Objectives

Consider how well each planning approach aligns with your overall business objectives. Evaluate whether the alternative approach provides the flexibility, adaptability, and innovation necessary to achieve your goals. Ensure that the chosen methodology can support your long-term vision and strategic direction.

Resource Availability and Budget Constraints

Assess the resources available within your organization to implement and sustain the chosen planning approach. Consider the financial investment, time commitment, and expertise required. Choose an approach that is feasible within your resource constraints to ensure successful implementation and execution.

Current Stage of Business Development

The stage of your business development can influence the choice of planning approach. Startups and early-stage businesses may benefit from lean and agile methodologies, such as the Lean Startup or Design Thinking, which allow for rapid experimentation and learning. Established businesses, on the other hand, may find value in more structured and collaborative approaches, such as Open Source Strategic Planning or Scenario Planning.

Combining Approaches for a Customized Solution

In some cases, combining different planning approaches can lead to a more customized and effective solution. Integrating multiple methodologies allows businesses to leverage the strengths of each approach and address the specific needs and challenges they face. For example, combining the Lean Startup methodology with the Business Model Canvas can provide a powerful framework for innovation and business model refinement.

By combining approaches, businesses can create a unique planning process that suits their specific context, industry, and goals. However, it is important to ensure that the different methodologies align and complement each other, rather than create confusion or conflicting strategies.

Once you have selected the most suitable planning approach, the implementation and monitoring phase is crucial for success. Develop a clear action plan outlining the steps required to adopt and execute the chosen approach. Assign responsibilities, set milestones, and establish a timeline for implementation.

Monitoring the effectiveness of the chosen approach is equally important. Establish key performance indicators (KPIs) and metrics to evaluate the impact of the planning methodology on your business. Regularly review and analyze the data to make informed adjustments and improvements.

Continuous improvement and adaptation of the chosen approach are vital to ensure its long-term effectiveness. As your business evolves and market conditions change, be open to revisiting and refining your planning methodologies to stay ahead of the competition.

By carefully evaluating, implementing, and monitoring the chosen planning approach, businesses can maximize the benefits of business plan alternatives and drive their success in today's dynamic and competitive business landscape.

In conclusion, traditional business plans are no longer the only path to success in today's rapidly changing business landscape. As the business environment becomes more unpredictable and dynamic, exploring alternative planning approaches is essential for businesses to thrive. The alternatives we have explored in this blog post - including Lean Startup methodology, the Business Model Canvas, effectuation, collaborative planning approaches, and technology-based planning tools - offer innovative and flexible ways to strategize and drive business growth.

By embracing business plan alternatives, entrepreneurs and business owners can foster innovation, adapt to uncertainty, and create strategies that are agile, flexible, and responsive. These alternative approaches challenge the traditional norms and encourage businesses to think differently, experiment, and adapt their strategies based on real-world insights and feedback.

It is important to note that there is no one-size-fits-all solution when it comes to choosing a planning approach. Each business is unique, and the most effective methodology may vary depending on factors such as industry, stage of development, available resources, and specific goals. Therefore, it is crucial to evaluate the different planning approaches against these criteria and select the one that best aligns with your business objectives and constraints.

Furthermore, businesses can also consider combining different planning approaches to create a customized solution that suits their specific needs. By integrating multiple methodologies, businesses can leverage the strengths of each approach and address the complexities and challenges they face.

Implementing the chosen planning approach requires careful planning, execution, and continuous monitoring. It is important to develop an action plan, assign responsibilities, and establish a system for monitoring progress and evaluating the effectiveness of the chosen approach. Regularly review and analyze the data to make informed adjustments and improvements.

In a rapidly changing business landscape, adaptability and continuous improvement are critical. Businesses should remain open to exploring new planning methodologies, embracing emerging trends, and adapting their strategies to stay ahead of the competition.

By embracing business plan alternatives, entrepreneurs and business owners can navigate uncertainty, foster innovation, and position themselves for long-term success. The future of strategic planning lies in the ability to think creatively, collaborate effectively, and embrace change. So, step away from the traditional norms, explore the alternatives, and embark on a transformative journey of strategic planning with business plan alternatives.

Adrian Kennedy

Synonyms of business

• as in patronage
• as in matter
• as in commerce
• as in purpose
• as in treachery
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Thesaurus Definition of business

Synonyms & Similar Words

• merchandising
• marketplace
• wholesaling
• horse - trading
• corporation
• establishment
• association
• multinational
• conglomerate
• microenterprise
• consideration
• ball of wax
• responsibility
• predicament
• flash point
• crossroad(s)
• black market
• gray market
• participation
• involvement
• subspecialty
• dimension(s)
• requirement
• designation
• appointment
• double cross
• backstabbing
• abandonment
• faithlessness
• unfaithfulness
• two - timing
• double - dealing
• two - facedness
• talebearing

Antonyms & Near Antonyms

• faithfulness
• reliability
• steadfastness
• dependability
• trustworthiness
• staunchness

Synonym Chooser

How does the noun business differ from other similar words?

Some common synonyms of business are calling , employment , métier , occupation , pursuit , and work . While all these words mean "a specific sustained activity engaged in especially in earning one's living," business suggests activity in commerce or the management of money and affairs.

When is it sensible to use calling instead of business ?

In some situations, the words calling and business are roughly equivalent. However, calling applies to an occupation viewed as a vocation or profession.

When would employment be a good substitute for business ?

The words employment and business can be used in similar contexts, but employment implies work for which one has been engaged and is being paid by an employer.

In what contexts can métier take the place of business ?

Although the words métier and business have much in common, métier implies a calling or pursuit for which one believes oneself to be especially fitted.

When might occupation be a better fit than business ?

The words occupation and business are synonyms, but do differ in nuance. Specifically, occupation implies work in which one engages regularly especially as a result of training.

When can pursuit be used instead of business ?

While the synonyms pursuit and business are close in meaning, pursuit suggests a trade, profession, or avocation followed with zeal or steady interest.

Where would work be a reasonable alternative to business ?

The meanings of work and business largely overlap; however, work may apply to any purposeful activity whether remunerative or not.

Phrases Containing business

• monkey business

Articles Related to business

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“Business.” Merriam-Webster.com Thesaurus , Merriam-Webster, https://www.merriam-webster.com/thesaurus/business. Accessed 20 Jun. 2024.

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What's the opposite of Meaning of the word Words that rhyme with Sentences with the word Translate to Find Words Use * for blank tiles (max 2) Use * for blank spaces Find the of Pronounce the word in Find Names     Appearance ✓ Use device theme   ✓ Dark theme ✓ Light theme ? ? Here's a list of from our that you can use instead. ▲ ) ▲ shut down for days.” involved selling milkshake makers before he got into franchising.” activities outside of his employment duties with the defendant.” what I do in my personal time.” of confession has become polluted with falsity and madness.” the suspect had in the restricted area during the time in question.” with his life.” ) The domain in which something or someone is active .” meeting and will not be able to see you right now.” Use * for blank tiles (max 2) Use * for blank spaces Related Words and Phrases Bottom_desktop desktop:[300x250]. go Word Tools Finders & Helpers Apps More Synonyms Copyright WordHippo © 2024 TechRepublic Account information. Share with Your Friends 6 Best Free Alternatives to Microsoft Word Your email has been sent Best for sharing and real time collaboration: Google Docs Best for long and complex documents: Apache OpenOffice Writer Best for automation: Zoho Writer Best for customization: LibreOffice Writer Best for advanced features: WPS Office Writer Best for users who prefer Microsoft Word's interface: Microsoft Office Word Online Microsoft Word has its devotees, but find one person who loves it, and you’ll probably find several who don’t. From redesigns that hide familiar menu items to overly complicated and often unused features, there’s a lot to be desired in a simple word processor that Microsoft Word doesn’t deliver due to its complex nature. Microsoft Word as a part of Microsoft Office is expensive — for instance, Microsoft 365 Business Premium costs $22 for each user per month. SEE: Discover the best free alternatives to Microsoft Excel . If you don’t need all the features that Microsoft Word offers, it can be hard to justify paying that price, especially in a small business environment where you just need a word processor. Don’t pay for what you won’t use and take a look at one of these six free Microsoft Word alternatives instead. Alternatives to Microsoft Word comparison This chart provides a general overview of Microsoft Word capabilities. We evaluated each tool further to determine which might suit your needs best. Features Platform Web-based Windows, macOS, Linux Web-based Linux, FreeBSD, Mac OS X and Windows Windows, macOS, Linux Web-based Collaboration Excellent No Excellent No Limited Excellent Offline access Limited Yes Limited Yes Yes Limited Document templates Yes Yes Yes Yes Yes Yes Advanced formatting Limited Yes Yes Yes Yes Yes Cloud storage integration Google Drive Various Zoho WorkDrive Yes Various OneDrive Google Docs: Best for sharing and real time collaboration Google Docs, which is easily the most popular Microsoft Word alternative on this list, is free to everyone with a Google account. If you want the basic features of Microsoft Word, you don’t need to look any further than Google Doc — it supports all your basic word processing needs and is tightly integrated with Google Drive and other products. Since everything is saved in Google’s cloud, you don’t need to worry about losing your work ( Figure A ). Docs automatically save after every single keystroke, so in the event of a crash, you should be able to pick up right where you left off, down to the letter. Google Docs also supports Microsoft Word’s .doc and .docx formats, so you shouldn’t have any problems importing and editing those files. One of its best features for business users is real-time collaboration. If you share a document with another Google user, both of you can be in the document simultaneously, see the other user’s cursor position, watch what they’re typing, and chat with each other. It’s a great collaboration tool that stands out among word processors. Advanced users may find the features lacking — it really is a bare-bones word processor. Standout features Real-time collaboration capability. Pageless view. Table templates. Watermarks. Document summary. Google Meet integration. Menu shortcut that lets you tag people, add elements and perform other actions. Commenting, notes and suggestions. Meeting notes. Email draft. Checklists. Customizable templates. In-doc chat capability. Table of contents sidebar. Find and replace capability. Intuitive, easy to learn and use. Easy sharing and collaboration. Easy track changes. Versatile and user friendly. Limited offline capability. Some users reported that it has limited advanced formatting and editing capabilities. Sometimes crashes occur when too many people are working on the same document. SEE: Become a Google Docs power user . Apache OpenOffice Writer: Best for long and complex documents If you hate Microsoft Word because of its ribbon, then Apache’s OpenOffice Writer is the 2003 throwback you want. It has a classic interface that, while it can look a bit cluttered, mimics the menus that Microsoft tossed out when Office 2007 was released ( Figure B ). It will definitely feel familiar to Office 2003 users, with the added perk of still receiving updates and security patches, which is important for a business software suite. OpenOffice Writer has its own document format, but it also supports .doc and .docx files, and it does a great job of maintaining formatting when importing those types of files. Many of the advanced features of Microsoft Word are included in OpenOffice Writer as well, so editing complex Word documents won’t be an issue. If online collaboration or native cloud support is a selling point, then you may want to pass on OpenOffice Writer because it includes neither. It’s possible to store files in a cloud drive and access them using OpenOffice, but you’ll need the desktop client of Google Drive , Microsoft OneDrive or Apple iCloud installed so that you can open your cloud storage like a local computer folder. Table of contents and references. AutoCorrect dictionary. AutoComplete capability. Multi-page display. HTML, PDF, and MediaWiki formats. Supports .docx and .doc. Familiar, Microsoft-like interface. Over 900 templates. Commenting/Notes. It doesn’t have mobile apps. The user interface isn’t intuitive. Zoho Writer: Best for automation Zoho Writer is a free document creation tool with a clean writing interface and powerful built-in capabilities. Writing documents in Writer is largely distraction-free, while important text tools are still within reach. The native features of Writer, many of which leverage the capabilities of other Zoho apps, really set it apart from the rest. Use the built-in AI tool, Zia, for better quality content, fast grammar fixes and insight into the document’s readability for different audiences ( Figure C ). The Document Sign tool puts e-signature tools right in the doc so that teams can go from draft to approval to signature, all in the same space. Document Fillable tools also put forms right in your documents, giving them a professional feel that’s ready for embedding anywhere you need a form. Not to be outdone by Google Docs or Microsoft Word, Zoho Writer’s real-time collaboration has granular controls, including comments, suggestions, text masking to hide some items from collaborators and even content locks for blocks of text. Zoho Writer is built for corporate collaboration, legal approvals and creative teams. WordPress integration. Comments and notes. Lock or mask sensitive information. Post to WordPress from Zoho Writer. Word document import. Export to .docx and .pdf. Document automation. Document fillable. Real-time collaboration. Offline editing capability. Integrates well with Zoho WorkDrive and other products in the Zoho suite. Users say the editor gets slow when working with large documents. Zoho Writer spell checker could be improved. LibreOffice Writer: Best for customization The Document Foundation’s LibreOffice Writer, like OpenOffice, is a completely free and open-source product that offers word processing, support for .doc and .docx file formats and all the tools the average Microsoft Word user will need in a word processor. LibreOffice Writer and OpenOffice Writer are similar in a lot of ways: interface style, file format support, lack of cloud integration and real-time collaboration, and general word processing features ( Figure D ). Both are solid choices for those looking for a free alternative to Microsoft Word, and selecting one over the other largely comes down to preference. One aspect of LibreOffice stands out, and it is’’t what’s in the app — it’s the community-driven nature of the platform. Collaborating with users and developers to improve the product is front and center on LibreOffice’s website, and that focus has grown LibreOffice into a thriving community of users and coders that keep making it better . Desktop publishing. Integrated calculation function. Drawing tools. Spellchecker, thesaurus, AutoCorrect and hyphenation. Works well with MS Office files. Installs on Windows, Linux and Mac. Supports drag-and-drop. Some users reported that the tool is sometimes slow. Limited documentation. WPS Office Writer: Best for advanced features If you want a word processor as feature-packed as Word but don’t want to pay a premium, check out WPS Office Writer. It’s a full-featured application suite that feels premium. WPS Office Writer does most of the same things as Microsoft Word, and it includes native cloud support to make storing documents online a snap; however, it does lack real-time collaboration ( Figure E ). Look at any review of WPS Office Writer, and you’ll find statements that attest to how much it’s like Word. With its inclusion of more features than other free suites like OpenOffice, this might be the one to go for — especially considering it’s free. With anything free and high quality, there’s usually a catch, and you might be able to guess what it is in our modern age of “freemium” apps: Ads. Don’t let that dissuade you from trying WPS Writer — you might not see an ad. There’s no banner across the top of the app; ads only appear when you want to use select features like printing or exporting to PDF. If you need to do one of those things, you’ll have to sit through a roughly 10-second ad, which unlocks the feature for 30 minutes. If you like what WPS Writer offers, you can eliminate ads by paying a yearly subscription fee of $29.99 or $9.99 for three months. Key features PDF file support. File format conversion. PDF to Word conversion. Document to picture export. Picture to text conversion. Skins and design customization. Supports Windows, macOS, Linux, Android and iOS. Supports 13 languages on PC and 46 languages on mobile. 20GB of cloud storage. WPS Office is compatible with 47 common document formats. The free version contains ads. Some users say the app is a bit slow. Microsoft Office Word Online: Best for users who prefer Microsoft Word's interface Don’t overlook Microsoft’s free alternative to the paid version of Word: Office Online. Like Google Docs, Microsoft Word Online is a simplified, cloud-based version of Word ( Figure F ). It lacks many of the advanced features of a locally-installed version of Word, but this is as close as you can get for users who want a free version of Word. Similarities between Google Docs and Word Online are present all the way down to the interface, but with a few tweaks you can make it feel more like the Microsoft ribbon instead of the dropdown menus Google Docs uses. Documents created in Word Online are saved in Microsoft OneDrive, and real-time collaboration features like those in Google Docs are available as well. One big plus in Word Online’s favor is formatting: If you create a document in Word Online and then import it to a local version of Microsoft Word, it’s going to retain the formatting way better than a Google Docs file. .docm, .docx, .pptm, .pptx, .xlsm, and. xlsx support. 5GB of cloud storage. Templates, fonts, icons and stickers. Spelling and grammar. Auto-save function. Dictation and voice command capability. Familiar environment for Microsoft Office users. Limited features compared to the offline version. It may contain ads. SEE: Explore everything Microsoft 365 has to offer. How to choose the best free alternatives to Microsoft Word When selecting the best free alternatives to Microsoft Word, there are a few key factors to consider. Assess your specific requirements and determine the features and functionalities you need from word processing software. This could include document formatting options, collaboration capabilities, compatibility with various file formats and available templates. Conduct thorough research on popular options such as Google Docs, LibreOffice Writer, Apache OpenOffice Writer, Zoho Writer and WPS Office Writer. Read user reviews, compare features and test the software to see how well it meets your requirements. Consider factors like compatibility with Microsoft Word formats, integration with cloud storage and ongoing support and updates. By evaluating these criteria, you can make an informed decision and choose the alternative that best suits your needs. Review methodology We analyzed each Microsoft Word alternative based on five key data points: free, support for Microsoft Word format, offline access, templates and ability to meet needs. All the tools in our comparison group satisfy these criteria. We evaluated how well each alternative fulfills users’ needs in terms of functionality, ease of use, formatting capabilities and other relevant factors. This criterion helps assess the overall suitability of the tool for different types of users and their specific requirements. Subscribe to the Microsoft Weekly Newsletter Be your company's Microsoft insider by reading these Windows and Office tips, tricks, and cheat sheets. Delivered Mondays and Wednesdays Best Free Alternatives to Microsoft Excel Best Microsoft Project Alternatives Best Microsoft Planner Alternatives Software usage policy Best software for businesses and end users Create a TechRepublic Account Get the web's best business technology news, tutorials, reviews, trends, and analysis—in your inbox. Let's start with the basics. * - indicates required fields Sign in to TechRepublic Lost your password? 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Your guide to French fluency starts here. December 19, 2023 French alphabet and pronunciation: How to pronounce letters in French In this article, we explain French alphabet pronunciation so you understand how to pronounce French words correctly. Discover more now. DALF exam: What it is and how to prepare The DALF exam has two parts: DALF C1 and DALF C2, both requiring advanced French knowledge. In this article, we cover the exam structure and preparation tips. Learn French weather terms: A simple guide for beginners Discover essential French weather terms for beginners, from basic expressions to idioms. Start conversations in French with confidence today! March 26, 2024 French titles 101: Your guide to madame vs. mademoiselle Learn the cultural nuances of using "madame" vs "mademoiselle" in French. Navigate French titles with confidence in formal and informal settings. Our top authors Ilma Ibrisevic is a freelance content creator and a passionate traveler. Endlessly curious about the world, she’s been captivated by other cultures and languages ever since she can remember. She loves writing stories that help others learn and grow. She’s also passionate about yoga, meditation, and well-being. Ilma speaks fluent English, Bosnian/Croatian/Serbian, knows French and a bit of German and Spanish. Adam is a content marketing specialist with a passion for language. He's originally from Birmingham, England but now lives in Barcelona. He is currently learning Spanish on Preply with his tutor, Jordi. George Chilton first started teaching English in 2007, in Wonju, South Korea. Since then, he’s bounced between Barcelona and Medellín - where he moved into freelance writing, translation, and ELT materials design. He now spends his time playing with his son, writing about himself in the third person, and sometimes even trying to run a business. Election latest: Audience shouts 'shame' as PM endures tough end to latest TV showdown Rishi Sunak has said he's "incredibly angry" about allegations Conservative candidates placed bets on the date of the general election. The prime minister and other party leaders faced voters on a special edition of the BBC's Question Time. Thursday 20 June 2024 23:07, UK General Election 2024 Please use Chrome browser for a more accessible video player Election date betting scandal PM 'incredibly angry' over election betting claims Tory candidate facing probe 'considering legal action' 'More names' to come out | Chart shows huge surge in bets Catch-up: What we know so far about betting allegations Live reporting by Samuel Osborne Party leaders face voter questions Sunak endures shouts of 'shame' Starmer 'worried' about rise of far right in Europe Lib Dem leader 'not proud' of everything coalition did SNP's Swinney vows to keep on pursuing independence Election essentials Manifesto pledges: Alliance Party | Conservatives | Greens | Labour | Lib Dems | Plaid Cymru | Reform | SNP | Sinn Fein | Workers Party Trackers:  Who's leading polls? | Is PM keeping promises? Campaign Heritage:  Memorable moments from elections gone by Follow Sky's politics podcasts:  Electoral Dysfunction | Politics At Jack And Sam's Read more:  Who is standing down? | Key seats to watch | What counts as voter ID? | Check if your constituency is changing | Guide to election lingo | Sky's election night plans It's been a busy evening in the Politics Hub. We've had the prime minister enduring shouts of "shame" during a special edition of the BBC's Question Time, which also saw Sir Keir Starmer, John Swinney and Sir Ed Davey face audience questions. Here are the main things you need to know this evening: Rishi Sunak  faced shouts of "shame" when he attacked the European Convention on Human Rights as a "foreign court"; The prime minister said he was "incredibly angry" about allegations of betting on the date of the election ; Sir Keir Starmer  said he was "genuinely worried" about right-wing tendencies across Europe; Lib Dem leader Sir Ed Davey confessed he was "not proud" of some of the things the party did during its time in coalition with the Conservatives; And the SNP's John Swinney admitted he may have contributed to a politics of polarisation but said he will keep pursuing independence. Before all of that, the Greens co-leader Adrian Ramsay  told Sophy Ridge  he rejected comparisons with Liz Truss for proposing to borrow COVID levels of money to fund his party's manifesto; But back to the betting scandal engulfing the Conservative party... Laura Saunders, the Tory candidate  facing a probe over allegedly betting on the timing of the election, has said she "will be cooperating with the Gambling Commission" investigation but is "considering legal action"; Ms Saunders is married to  Tony Lee  - the Conservative director of campaigns - with reports that he as well faces a probe after going on leave from CCHQ; The Gambling Commission has said it's considering launching an investigation into a " small number of people" ; Sky News understands more names are set to emerge  - this graph shows a huge surge in bets placed on the day before Mr Sunak made his announcement: Elsewhere, Northern Ireland's Alliance Party has published its general election manifesto , featuring reform of Stormont's devolved structures as a key objective; And the Scottish Greens have launched their manifesto too , outlining plans for a wealth tax on the richest people in the UK. Thank you for following our political coverage throughout the day. Please see our 10pm bulletin for the key points from an evening of tough questions for the leaders of the four major parties in the UK. Join us again tomorrow from 7am for the latest updates. By Megan Harwood-Baynes , digital investigations reporter A Conservative attack ad featuring Sadiq Khan has been pulled from the party's platforms after just one day. The advert, which ran across the Meta sites Facebook and Instagram, said: "Sadiq Khan wants to divide us", while warning voters "don't let Sadiq Khan win again". It encouraged voters to vote for them and not Reform. It ran for one day on 19 June. Mr Khan ran for mayor of London back in May, clinching a historic third term by a comfortable 276,000 votes over Tory rival Susan Hall. He is not running for election again on 4 July. Sky News reached out to the Conservatives to ask why they were running an attack ad against Mr Khan - and why it had been taken down - they did not respond with a comment. It comes as an exclusive poll for Sky News and YouGov shows the Conservative party is on track for a near wipeout, with Labour predicted to take 425 seats - including almost all in London. Reform are projected to return five MPs. The online advert was viewed by up to 35,000 accounts, and cost the party up to £499 to run. The largest audience for it was over 45s. Rishi Sunak suddenly becomes animated when he's asked why he called the election for 4 July (see previous post).  He defends his campaign against Liz Truss and claims Labour's plans would be as damaging as hers. We're getting some raw politics now from the PM with the inevitable tax attack on Labour. Apart from his tough words on Tory betting, it's the most punchy he's been in his half hour. He's also punchy with a young questioner who says leaving the European Convention on Human Rights would be inhumane. But he's unconvincing when Fiona Bruce asks why he calls the European court a "foreign court" when it was set up by countries including Britain and has a British judge. And it gets worse. The audience shouts "shame!" when he attacks the "foreign court" again.  That sort of talk may play well with Tory activists and voters flirting with Reform UK, but it went down very badly here. It was a bad ending for the PM at the end of his half-hour and the two-hour election programme. The prime minster says he called the election early because he felt he had delivered economic stability to the country. Pressed on whether he is glad he called the election when he did, Mr Sunak says "it was the right moment" and he is glad. In an attack on his predecessor, he claims what Sir Keir Starmer is promising "is the same fantasy that Liz Truss did". After his strong answer on the betting scandal, surprisingly Rishi Sunak struggles to answer Fiona Bruce's persistent questions on his national service proposals.  You'd think he'd have better prepared answers on a flagship election policy. He’s also very dismissive of an audience member who says Brexit has been a disaster for young people.  Sounding irritated, he says those arguments were debated in 2016, and he's not going to over them again. "I come from an NHS family," Mr Sunak then tells a questioner about NHS waiting lists.  Really? Never knew that. (At least we didn’t get "my father was a toolmaker" from Sir Keir this time.) Like Sir Keir, Mr Sunak is facing detailed questions about issues like the NHS. More detail!  And surprisingly he hasn't attacked Labour on tax – yet! He'll be pleased, though, that he was asked early on about the Tory betting scandal. He had a strong answer on that that will make headlines.  Not sure much else from Mr Sunak will, so far. Mr Sunak has avoided engaging with criticism of the Tory's national service policy, suggesting it would be "politicising the armed forces during an election campaign". Asked about comments from Lord West of Spithead, a former chief of the naval staff and Labour peer who reportedly called the policy "bonkers", the prime minister says: "Well it wouldn't be appropriate to start politicising the armed forces during an election campaign." Mr Sunak insisted the military route was optional, despite the proposed national service scheme being compulsory. But when asked what sanctions people could face for not taking part, Mr Sunak gave "access to finance" among other examples. Asked if this meant taking away people's bank cards, he laughs and says: "There's lot of different models around Europe." Mr Sunak is asked why Brexit has been mostly absent from the Conservatives' campaign so far. "We had all these debates several years ago, I'm not going to relitigate them," the prime minister says. "Our job now is to get on and make sure we realise all the benefits of that." He gives the example of free ports as a benefit of Brexit and says it is how "we are attracting the investment and jobs". He adds: "The choice of this election is about the future. We're not going to go back to Brexit. This is about the future… "And actually, outside of the EU, we're able to do things that will drive more growth, create more jobs and allow me to cut more taxes." The first two questions to Rishi Sunak are tough. The first was about integrity in politics after the Tories' five prime ministers since 2010, the second about the betting scandal. On betting, he says he's "incredibly angry" and if anyone has broken the law they should face the full force of the law.  And he adds: "I will ensure they will be booted out of the Conservative Party."  Tough talk. Let's see if it happens. Rishi Sunak is challenged on the fact two Conservative Party candidates and the Conservatives' director of campaigning are being investigated by the Gambling Commission over allegations of betting on the timing of the election. An audience member asks if this is "the absolute epitome of the lack of ethics that we have had to tolerate from the Conservative party for years and years"? The prime minister says: "I was incredibly angry to learn of these allegations. It is a really serious matter." He continues: "I want to be crystal clear that if anyone has broken the rules, they should face the full force of the law." Quizzed over why the candidates have not been suspended while the investigations take place, Mr Sunak says: "All I can say is, they are serious investigations. It's right they are done thoroughly, confidentially." He says if anyone has broken the rules, he will "make sure they are booted out of the Conservative Party". Be the first to get Breaking News Install the Sky News app for free Thesaurus for Alternative plan Related terms for alternative plan - synonyms, antonyms and sentences with alternative plan, similar meaning. backup plan different plan back-up plan contingency plan reserve plan standby plan alternate plan alternative strategy backup strategy alternative method different design fallback plan emergency plan no other plan second such plan counter-plan less important plan solution proposal secondary plan second itinerary some other intention other intention Opposite meaning initial plan initial strategy original plan original strategy primary option primary strategy first strategy main strategy one solution central plan primary plan first solution main solution one and only plan one and only solution one and only strategy one strategy only one plan only one solution only one strategy only possible plan only possible solution Nothing suggested yet. Maybe you know some? Sentence examples, proper usage in context. Alternative plan Bravo In this case, an alternative plan had to be developed May I offer an alternative plan for action? May I offer an alternative plan of action? We do not think the Government's alternative plan will succeed 463 COMMENTS Business Plan synonyms Another way to say Business Plan? Synonyms for Business Plan (other words and phrases for Business Plan). Synonyms for Business plan. 115 other terms for business plan- words and phrases with similar meaning. Lists. synonyms. antonyms. definitions. sentences. thesaurus. words. phrases. Parts of speech. nouns. suggest new. Business Plans synonyms Business Plans synonyms - 125 Words and Phrases for Business Plans. work plans. n. business goals. n. courses of action. options. action plan. action plans. What is another word for "business plan"? Synonyms for business plan include course of action, plan, option, method, strategy, procedure, alternative, system, course and policy. Find more similar words at wordhippo.com! BUSINESS PLAN in Thesaurus: 100+ Synonyms & Antonyms for BUSINESS PLAN Most related words/phrases with sentence examples define Business plan meaning and usage. Thesaurus for Business plan. Related terms for business plan- synonyms, antonyms and sentences with business plan. Lists. synonyms. antonyms. definitions. sentences. thesaurus. Parts of speech. nouns. Synonyms Similar meaning. View all. 7 Types of Business Plans Explained 7 Different Types of Business Plans Explained. Business plans go by many names: Strategic plans, traditional plans, operational plans, feasibility plans, internal plans, growth plans, and more. Different situations call for different types of plans. But what makes each type of plan unique? 10 Business Plan Words Every Manager Needs to Know By Heart 2. Business planning: Steering a company using a cyclical process. Plan, review and revise as necessary to optimize. Business planning is management. 3. Business strategy: A combination of ... Free Business Plan Template for Small Businesses (2024) A lean business plan format is a shortened version of your more detailed business plan. It's helpful when modifying your plan for a specific audience, like investors or new hires. Also known as a one-page business plan, it includes only the most important, need-to-know information, such as: Company description; Suppliers; Key members of your team How to Write a Business Plan: Guide + Examples Most business plans also include financial forecasts for the future. These set sales goals, budget for expenses, and predict profits and cash flow. A good business plan is much more than just a document that you write once and forget about. It's also a guide that helps you outline and achieve your goals. After completing your plan, you can ... 6 Innovative Alternatives To The Traditional Business Plan LivePlan Explainer from Palo Alto Software, Inc on Vimeo. Live Plan makes it easy for you to forecast and prioritize the main financial elements of your business strategy like value propositions, key partnerships, cost structure and so on. This service is perfect for pitching a concise business plan investors and banks can instantly understand. PLAN Synonyms: 130 Similar and Opposite Words Synonyms for PLAN: strategy, blueprint, program, scheme, project, design, system, arrangement; Antonyms of PLAN: method, means, way Top 8 Bizplan Alternatives & Competitors for 2023 (Tried & Tested) 8. Brixx. Brixx is a competitive Bizplan alternative helping entrepreneurs with business plan creation, financial modeling, scenario planning, and goal tracking. You can also integrate Brixx with your accounting software to automate the syncing of your actuals and forecast, making it easier to get started. 135 Synonyms & Antonyms for PLAN Find 135 different ways to say PLAN, along with antonyms, related words, and example sentences at Thesaurus.com. Looking For A Business Plan Alternative? Consider A Business Model A business model canvas is a quick-start alternative to a business plan. It helps you think through the most important aspects of startup—such as your product or service, your target market, and ... 2 Alternatives To Kickstart A Traditional Business Plan Think of it, she says, as a tool to distill your voluminous business plan into a handy one- or two-page document. "Not only does it lay the groundwork for the business plan to come, it also refines your idea, outlines the consumer problem it aims to solve, and discusses how the idea will fit into the overall market," Weston writes for SCORE. BUSINESS PLANS in Thesaurus: 100+ Synonyms & Antonyms for BUSINESS PLANS Most related words/phrases with sentence examples define Business plans meaning and usage. Thesaurus for Business plans. Related terms for business plans- synonyms, antonyms and sentences with business plans. Lists. synonyms. antonyms. definitions. sentences. thesaurus. Parts of speech. nouns. Synonyms Similar meaning. View all. 25 Overused Business Words With Alternatives Possible alternative − Help, ease, make possible. Example − Our company facilitatesenrollment through simple technology − Our company easesenrollment through simple technology. 10. Game-changing. The flaw in many overused business words is we beat them to death. We use them in situations that are not game-changing. What is another word for plan? To prepare something in advance. To have an intention to do something. To design, create, or build. To obtain, arrange, or achieve by indirect, complicated or intensive efforts. To conceive of or envisage in the mind. To act in preparation for something. To depend on with full trust or confidence. PDF The Elements of a Business Plan: First Steps for New Entrepreneurs Provide projections for two to four years in the future, including: 1. Forecasted income (monthly for first two years, then by quarter or year thereafter), 2. Forecasted cash flows by month (monthly for first two years, then by quarter or year thereafter), 3. Forecasted balance sheet for all years (year-end), and. 4. Business Plan Alternatives Business Model Canvas. Another powerful tool in the realm of business plan alternatives is the Business Model Canvas. Developed by Alexander Osterwalder, this visual framework offers a holistic and concise representation of a company's business model, focusing on nine key building blocks. BUSINESS Synonyms: 214 Similar and Opposite Words Synonyms for BUSINESS: patronage, custom, traffic, merchandising, marketplace, affairs, dealings, trade; Antonyms of BUSINESS: loyalty, allegiance, devotion, fidelity ... What is another word for business? Of, or relating to, money. Relating to or characterized by commercial industry. Of, relating to, or caused by work or one's occupation. Relating to trade or commerce. Of or relating to advertisements or marketing activities. Of, relating to, or situated in the central business district. … more . 166 Words and Phrases for Alternative Plan counter-plan. less important plan. solution proposal. secondary plan. second itinerary. some other intention. other intention. replacement scheme. other series of steps. 6 Best Free Alternatives to Microsoft Word Microsoft Word as a part of Microsoft Office is expensive — for instance, Microsoft 365 Business Premium costs $22 for each user per month. SEE: Discover the best free alternatives to Microsoft ... Learn French online: Free learning resources George Chilton first started teaching English in 2007, in Wonju, South Korea. Since then, he's bounced between Barcelona and Medellín - where he moved into freelance writing, translation, and ELT materials design. He now spends his time playing with his son, writing about himself in the third person, and sometimes even trying to run a business. Election latest: Tories delete Labour attack ad In the past few minutes, the Conservative Party X account has deleted an advert uploaded yesterday. The video, which features scenes from a roulette wheel, bears the slogan: "If you bet on Labour ... 208 Words and Phrases for Alternative Plans Synonyms for Alternative Plans (other words and phrases for Alternative Plans). Synonyms for Alternative plans. 208 other terms for alternative plans- words and phrases with similar meaning. Lists. synonyms. antonyms. definitions. sentences. thesaurus. Parts of speech. nouns. suggest new. ALTERNATIVE PLAN in Thesaurus: 100+ Synonyms & Antonyms for ALTERNATIVE Most related words/phrases with sentence examples define Alternative plan meaning and usage. Thesaurus for Alternative plan. Related terms for alternative plan- synonyms, antonyms and sentences with alternative plan. Lists. synonyms. antonyms. definitions. sentences. thesaurus. Parts of speech. nouns. Synonyms Similar meaning. 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