- A biz plan is not a product. It is a process.
- Entrepreneurs have to understand the business dynamics around the concept. Just domain expertise without understanding of how business works is not enough.
- Investors are interested in ‘how you will do what you intend to do’, rather than just knowing what you are planning to do.
- Business model is about ‘who will pay how much and to whom and for what’
- The quality of your business plan is dependent purely on the quality of your assumptions. If your assumptions and logic are incorrect, no amount of great planning will help.