The planning stage is dedicated to analysing and further developing a business idea. Typically, a written business plan, or at least a business model canvas, documents the progress of a startup and is often shared with business partners and potential investors.
Business Plan: A business plan includes a complete list of measures for the successful implementation of a business idea. If you are considering working with business partners or investors, a detailed and sound business plan is mandatory. But even if you are thinking of launching your own independent company, writing a business plan can have benefits: individually developing and recording every step of the way will reveal the strengths and weaknesses of your business idea along with a better assessment of the future chances of success.
Business Model Canvas: An alternative to the standard business plan has been taking shape in the start-up scene in recent years: drawing on a business model canvas gives entrepreneurs the opportunity to monitor their business plan within a compact framework. Compared to a conventional business plan, this pared-down version can be managed and realised with significantly less effort.