Business plans

Glossy descriptions of fantasy markets should not be confused with real customers.

Don't write a plan before you understand your customer.

Why the compensation plan and pricing plan trump everything else.

Be clear about your intentions.

The current high level of venture capital investment is driving enormous innovation in business. About 40% of the growth in the U.S. GDP is coming out...

Traditionally, the most reliable way for a firm to find its next wave of growth was to apply the capabilities of its core business in an adjacent market....

Four research-backed principles to help you determine what’s right for your company.

The business plan admits the entrepreneur to the investment process. Without a plan furnished in advance, many investor groups won’t even grant an interview. And the plan must be outstanding if it is to win investment funds. Too many entrepreneurs, though, continue to believe that if they build a better mousetrap, the world will beat […]

Entrepreneurs can play a central role in finding solutions to the world's toughest social problems. The failure rate for start-ups, however, is high....

The most dubious business plans can appear solid, even smart, when illustrated with snappy circle-and-arrow graphics. Look closely, though, and you'll...

Marketplaces are the quintessential type of business that can profit from network effects: The greater the number of buyers who join one, the more attractive...

For the sixth year in a row, sporting-gear cooperative REI made Fortune's list of the 100 best companies for which to work. CEO Dennis Madsen shares his...

It's not all about experience and industry knowledge.

There are more-productive ways to build relationships.

Every seasoned investor knows that detailed financial projections for a new company are an act of imagination. Nevertheless, most business plans pour...

The high failure rate among new business ventures is usually chalked up to the fundamental uncertainty of the process. In actuality, say McGrath and Keil,...

Your legacy depends on a good succession plan.

It's a better long-term strategy.

Startup founders need to network with customers, investors, and other stakeholders.

To succeed, a new company must rally investors, staff, customers, and the media around a good story. But often that narrative turns out to be wrong, and...