Differences in Business Plans and Business Models for Entrepreneurship
When aspiring business people think about getting into entrepreneurship, it can often be overwhelming with the various concepts and ideas.
Start up entrepreneurs need to think about a profitable idea, and one which can be scaled and grown into a business. Many start up business pundits propose that entrepreneurs should write up a business plan. However, in the beginning phase of a business, making business plans may be inappropriate. Start up entrepreneurs often need to figure out a model of doing business. Startups are in search for an idea that is scalable and repeatable. This is very different from a business plan, which is more appropriate for an existing company. Business plans on the other hand already assume a certain business model and include a strategy and forecasts based on that model.