The traditional business plan, which is static, rigid, and voluminous, is increasingly coming under critique as inappropriate for startup businesses. Certainly, no one would ask kid-entrepreneurs to write a traditional business plan to express their business ideas and plans. So, what is the alternative to a traditional business plan?
At the moment, the Business Model Canvas is being positioned as a replacement for the traditional business plan. However, the Business Model Canvas presents a snapshot of a business at a given point in time. In short, a Business Model Canvas is not a dynamic document. Advantages of the Business Model Canvas includes its holistic approach to modeling a business and determination of business model viability as well as flexibility in documenting, updating, and innovating on the business model. Nevertheless, a Business Model Canvas is NOT a business plan, which answers the 4 fundamental questions of planning:
* Where currently are we?
* Where must we go?
* How must we get there?
* How would we know when we get to the destination?
So, what is the alternative to a traditional business plan? What tool encompasses the strength of a business plan and business model?
In this presentation, the Modern Entrepreneur's Blueprint (MEB) is presented as a dynamic and scalable tool for building organizations, particularly businesses. The MEB combines the strength of both the traditional business plan and one-page business modeling tools. The MEB illustrates the 4-Step Cycle of "Understand-Plan-Execute & Sell-Learn", which illustrates how to comprehensively and iteratively build organizations. Also, the MEB provides a visual framework for organizing the many innovation tools that are required for building businesses. Finally, the MEB is applied to a case study on creating and presenting ideas for an enterprise in the Real Estate Industry.