Cómo escribir un gran plan de negocio por william a. sahlman

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How to Write a Great Business Plan

by William A. Sahlman

Harvard Business Review

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Which information belongs – and which doesn’t – may surprise you.

How to Write a Great

by William A. Sahlman
Few areas of business attract as much attention as new ventures, and few aspects of new-venture creation attract as much attention as the business plan. Countless books and articles in the popular press dissect the topic. A growing number of annual business-plan contests are springing up across the United States and, increasingly, in other countries. Both graduate and undergraduate schools devote entire courses to the subject. Indeed, judging by all the hoopla surrounding business plans, you would think that the only
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The men and women starting and running the venture, as well as the outside parties providing key services or important resources for it, such as its lawyers, accountants, and suppliers. The Opportunity. A profile of the business itself – what it will sell and to whom, whether the business can grow and how fast, what its economics are, who and what stand in the way of success. The Context. The big picture – the regulatory environment, interest rates, demographic trends, inflation, and the like – basically, factors that in­ evitably change but cannot be controlled by the entrepreneur. Risk and Reward. An assessment of everything that can go wrong and right, and a discussion of how the entrepreneurial team can respond.


he accompanying article talks mainly about business plans in a familiar context, as a tool for entrepreneurs. But quite often, start-ups are launched within established companies. Do those new ventures require business plans? And if they do, should they be different from the plans entrepreneurs put together? The answer to the first question is an emphatic yes; the answer to the second, an equally emphatic no. All new ventures – whether they are funded by venture capitalists or, as is the case with intrapreneurial busi­ nesses, by shareholders – need to pass the same acid tests. After all, the market­ place does not differentiate between products or ser­ vices based on who is pour­ ing money into them be­ hind the scenes. The

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