O business plan is an extremely popular tool, it has been on the market for a long time, and is widely used in academic courses. Colleges love using it as a final course design so that you have an overview of all the elements needed to compose a business. It is also a widely used by incubators that use it as a tool to evaluate candidates for incubation.
It turns out that recently, the business plan received a hard blow from a replacement called the Business Model. Although they have very similar names, they are completely different. While a business plan is a long textual document (with 30 to 40 pages), the Business Model is a single sheet. It is actually a visual diagram in which you can evaluate an entire business on a single sheet.
O Business model was created by Alexander Osterwalder, a Swiss consultant who wrote a very cool book called Business Model Generation, in which he presents with you can use this tool. This tool is very important for those who are creating a new business, but also for those who already own a business. Due to the complete visualization you have, you can view other versions of your business and find opportunities for innovation.
The Business Model is then a much more versatile and easier tool to be used collaboratively among your team. It allows you to perform prototyping, that is, in creating multiple versions of your business on a single sheet, a single slide. Unlike the Business Plan in which every time you create a new version you have to write other 30 pages.
So we can say that the Business Model is the tool of the moment. Widely used by those who are creating a new business and already asked by many investors to analyze investment opportunities.
Be sure to check Daniel's new blog specializing in Business model.
Meet our "How to Make a Business Plan" Handout Package: https://luz.vc/pacotes-de-planilhas/faca-seu-plano-de-negocios/