Why is it that most of the business plans I see are really product plans? I define a product plan as a detailed description of your product or service, with a bit of business thrown in at the end. A business plan is a detailed description of your business, with a bit of product description thrown in near the front.
Don’t get me wrong. It’s definitely positive to have a product plan. A simple differentiation is that a product plan is designed for internal use, to get the product out. A business plan is an “outward facing” document for external investors, or for C-level executives within your own company.
The product plan tells your developers what to build, and the marketing team what to market. Because it addresses an internal audience, it can use technical jargon and assume the reader understands the technology. Here are the key components of a good product plan:
To read the full, original article click on this link: Startup Professionals Musings: Entrepreneurs Confuse Product and Business Plans
Author:Martin Zwilling
