Company
Date Published
Author
Vivienne Chen
Word count
1156
Language
English
Hacker News points
None

Summary

A dramatic increase in small businesses has led to a renewed interest in Lean Business Plans, which offer a more accessible and flexible alternative to traditional business plans. Lean plans focus on key elements such as the business idea, target market, solution, and financial projections, making them ideal for small- to medium-sized businesses. The Small Business Association encourages entrepreneurs to develop lean plans first, citing accessibility, speed, and flexibility as benefits. A typical lean plan consists of a brief overview, problem statement, solution, target market, competition, marketing strategy, sales channels, revenue, expenses, milestones/growth, partners/resources, and talent/roles. With the help of web-based apps, digital libraries, and mobile solutions, entrepreneurs can validate business models and write effective lean plans quickly and easily. A no-code platform like Bubble can also facilitate the start-up process by eliminating infrastructure costs and operational hurdles.