Creating an Easy, Actionable Business Plan in Minutes

Written by Nick Brock

August 01, 2023

#BackToBasics

Business plans. Hands up, who writes them?

Some of us do, usually when we need a bank loan or have been requested to write one by a scrupulous investor.

And then, when you’re done with your business plan, it gathers dust on a shelf or is stuck away in some draw, never to be seen again.

It’s a great shame because writing a business plan is the first stage in validating your business idea.

It’s a mini stress test that forces you to look at your business through several different lenses and explains how the company makes $$$.

But writing a traditional business plan is a MASSIVE CHORE.

A new approach to business plans.

Alex Osterwalder thought writing a business plan was a massive chore too. But he realised the value of the exercise to entrepreneurs and business owners.

So he set about simplifying the business plan into an actionable one-page template that could be completed in hours, not days, and called it the Business Model Canvas (BMC). We’ll refer to it as BMC from this point forward.

The BMC contains many sections you’d expect to find in a traditional business plan, but rather than writing elaborate explanations, sticky notes suffice.

Crucially, it got you thinking without wasting time writing unnecessary, elaborate reports. Alex named his business plan the Business Model Canvas, and today it is taught in Business Schools and Universities worldwide.

The Business Model Canvas in Wowzers.

We believe capturing and validating your business plan is mission-critical, regardless of whether you’re seeking external funding.

So much so that we incorporated our version of the BMC in Wowzers called Kanvas. It’s the “Capture” in our Capture > Focus > Prioritise > Validate > Grow process.

Capturing your business plan is NOT a documentation exercise. That’s the output. Instead, see it as an opportunity for you to explore the nuances of your business plan with your team and use that exercise to help you ideate or set informed, actionable goals. We suggest completing or reviewing the BCM in the following circumstances:

#1 When validating your idea.

In an ideal world, completing the BMC would be one of the first todos on your todo list, alongside speaking with prospective customers about your idea to get a feel for whether it has merit as a viable business.

#2 When ideating or goal setting.

We recommend writing or revisiting your BMC before ideating or goal setting. That way, everyone’s knowledge of your company’s business model is refreshed, and the sections can act as stimulus for discussion.

#3 When onboarding new hires.

Need to bring a new hire up to speed quick? The BMC provides the perfect framework for onboarding. Sit down with your new hire and completed BMC, and talk them through every step of your business plan.

The easy, actionable Business Plan Builder.

We mentioned earlier that we’d incorporated our version of the BMC in Wowzers. That’s because we’ve made some tweaks.

Alex Osterwalder’s BMC is not without its criticisms, but we’re still raving fans. However, it’s hardly self-service. You won’t get far with the BMC without turning to the internet or a business consultant for guidance.

Also, the BMC does not demonstrate relationships between the different blocks. You are left to figure out in what order to complete the BMC, or at least turn to the internet for advice, and can’t see how they interpolate.

So we fixed that by:

#1 Bringing the BMC online.

We’re a SaaS. Completing the BMC on paper was never going to work for us. But bringing the BMC online has several merits, namely:

First and foremost, you can complete the BMC with your team online irrespective of location, perfect for remote working setups or impromptu sessions while travelling or on team-building exercises.

Secondly, you can elaborate on your answers. More than on a sticky note. And it’s comprehensible to all.

And last but not least, your completed business plan is only a click away, so you can access it whenever and wherever. Ideal for ideating and goal-setting exercises.

#2 Providing help and guidance at every step.

Here’s where we make capturing your business plan in Wowzers child’s play.

We start by repositioning the block title into an actionable question. For example, “Key Partners” becomes “Who will help?”.

Next, we provide a concise description of the block and what it’s asking…

Should you need more information, there are 5 trigger questions to give your brain food for thought. So for Key Partners, these are:

There’s also a tip available, which for Key Partners reads:

Finally, and most importantly, help is at hand when capturing your answer. We’ve provided multiple-choice answers together with descriptions and real-world examples. So for Key Partners, you get two options for partner type: “Optimisation” and “Mitigation”. Here’s how we define optimisation:

#3 Providing a Wizard to walk you through step by step.

Last but not least, we provide a wizard that walks you through the optimum route of completing your business plan, building on the step prior. It’s optional. You can still complete your business plan in whatever order you wish. But it’s there should you need an extra helping hand.

All this translates into a tool that can help you capture your business plan in less than one hour and have it readily to hand to help stimulate discussion, ideation or goal setting forevermore.

So whether you’re just starting out or have been in business for years, Kanvas will help you capture and evaluate your business model and ensure your team knows your business inside out.

Anything else I should know?

You can create as many Kanvases as you like for your workspace. In the future, we’ll be adding the Lean Canvas, a derivate of the BMC, so that you can choose the ultimate business plan template for your business.

Want to evaluate your business plan in Wowzers? Sign up for Wowzers.

*Wowzers.io is the idea, goal and project management solution that helps busy business owners identify the activities that move the money needle. One tool for all your work and teams. Tried and tested on our own businesses. Learn more.