If your idea needs substantial early stage investment, you cannot build a prototype. Consequently, your question is nonsensical. There is no possible debate between presenting a business plan and prototype or just one or the other. Therefore, your business is simply at the idea stage. Dont Write a Business Plan. Build a Prototype. November 12th, 2009 At the start of this decade, I sat in my b school classes discussing case studies and dissecting business plans.
As part of my course in entrepreneurship and venture initiation, the main deliverable at the end of the quarter was a business plan. Writing a business plan is a prerequisite to your companys success. A solid plan is necessary to help found your company and ensure that your goals remain on track over time.
Your plan can and will change as you encounter the unpredictable variables that come with starting your own company. Oct 23, 2007 Re: prototype and business plan doc1400 Oct 23, 2007 1: 11 PM ( in response to rayandnay ) Prototype or" go by" business plans are available for almost all types of business at the Small Business Administration website.
The business plan presentation along with the executive summary will help to structure the business and make it more focused, clear, and understandable.
It is all part of the learning process consisting of learningabout and learningbydoing. The prototype stage will help you determine the best materials. 3. It'll help you describe your product more effectively with your team, including your attorney, packaging or marketing expert, engineers and potential business partners. 4. It will encourage others to take you more seriously.