Business Blueprint VS Business Plan
The difference between a Business Blueprint and a Business Plan
In some instances there may be some confusion between a Business Blueprint and a Business Plan. When you’re getting ready to start your small business, you want to create as solid a foundation as you can – and that involves education and planning. An examination of today’s business ecosystem requires an end to short-term, reactive thinking. It requires an interconnected 360-degree operating blueprint.
You might have heard that you should start with a business plan, or a business blueprint. That’s great! But what are they, exactly, and how are they different from one another? The truth is that you need both of them as they can be the ultimate guides that to have you running your business or businesses like the likes of Elon Musk, Patrick Bet-David, Gary Vee, Robert Kiyosaki, Grant Cardone and more.
So we hope you embrace these two (2) concepts, get educated on them, map out your business processes and change the way you think and run businesses. This blog will highlight the importance of a business blueprint for modern business growth and elaborate further on the differences between a Business Blueprint and a Business Plan! Read on to learn more:
Business Blueprint
The business blueprint is a model outlining how you’re going to run your business, and how you’re going to make money. It is a step-by-step way to identify your business’s needs, goals, and strategic plan. Establishing this business blueprint is essential because it’ll provide the framework for your business as you develop it.
Blueprinting can be a helpful tool in determining what business model will work best for your specific business. It can be challenging for companies that have not developed a blueprint before to identify where to start!
There are five elements of a business model:
A short description of an opportunity, including a description of your average customer; the benefit of your product or service to the customer; the product or service; and the way you’re going to get your product or service to the customer.
Your business’ position on the chain of activities through which products and services pass to get from you all the way to the end user.
An estimate of the value of the tangible benefits your customers will receive by purchasing your product or service.
Identifying your sources of revenue, and activities that come at a cost.
The state when customers perceive your products or services to be superior to your competition.
Business Plan
Where a business model is a blueprint, a business plan is a roadmap. A business plan is a formal written document that includes a description of the business you want to run, your business goals, and the plan for reaching those goals.
A business plan is a detailed document that contains sections such as: Marketing Plan, Startup Expenses and Capitalization, Management and Organization, Products and Services, and Operational Plan.
A business plan is usually developed around the answers to three common questions:
- Where are we now?
- Where do we want to be?
- How are we going to get there?
And is usually written for one or more of these five reasons:
- To test the feasibility of your business idea and work out any bugs on paper first.
- To develop strategies ahead of time for marketing, finance, operation and human resources, instead of when you’re in the fast-paced start-up stage.
- To get funding, such as a bank loan.
- To attract investors.
- To have a roadmap to follow for at least the first year in business.
Why does your small business need both a business blueprint and a business plan?
It’s easy to come up with business ideas, but just because you build a company, that doesn’t mean customers will come. A great deal of time and effort should be spent planning before your new company’s products and services ever reach the market. You need a good foundation and planning before you invest all your time and money and so a business blueprint and a business plan is the best way to grow and scale.
The Importance and Purpose of Business Blueprinting
A business blueprint guides developing your company by creating an outline of what you want to accomplish.
With business blueprints in place, scaling up becomes more manageable. Knowing the business blueprint inside and out makes it easier to see where changes need to be made or where growth opportunities are present.
You can also use business blueprints to identify new opportunities for growth by thinking beyond the current scope of the business model you have in place.
Other vital benefits of a business blueprint include:
- Increase in business and staff efficiency.
- Provides structure and guidance on an organizational level.
- Transparency in the decision-making process for complete team alignment.
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