A business plan is a strategic roadmap for any new or growing business or startup venture. Formal business plans are generally required by bank lenders, angel investors and venture capitalists if you’re seeking funding to grow your company. A Lean Business Plan is basically a shorter business plan that you can update easily and often—it’s a great alternative to a business model canvas.

A business plan captures the opportunity see for your company: it describes your product or service and your business model, the target market you’ll serve. It also includes details on how you’ll execute your plan: how you’ll price and market your solution, and your financial projections.

Was this article helpful?
1 Star2 Stars3 Stars4 Stars5 Stars (1 votes, average: 5.00 out of 5)
Bplans GlossaryBplans Glossary

At Bplans, it's our goal to make it easy for you to start and run your business. Our glossary of common business terms will help you learn about key small business and entrepreneurship topics, to help you plan, fund, and grow your business.