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Below is a summarization of the Sahlman article “How to Write a Great Business Plan,” followed by a brief analysis of the same article. Summary In this article, Sahlman presents some common misconceptions surrounding the contents of a modern business plan. He briefly discusses what he feels is incorrect about business plans and then attempts to correct these common mistakes in a detailed manner. He does so by discussing the actual content of the business plan instead of trying to provide a cookie-cutter template. He separates the content into four main categories: the people, the opportunity, the context and risk and reward. Each section contains a detailed description of what should be there, what shouldn’t be there and why he feels the way he does. Sahlman spends a notable amount of time discussing the improper use of numbers and figures throughout the article. He ends the article by touching on moving from writing the plan to actually landing a deal with investors and issues a warning regarding arrogance on the part of the entrepreneur. Evaluation Overall, this article was an easy read as well as surprisingly informative. Instead of telling everyone to have such and such sections, and to include a certain number of figures, he instead provides broad categories of information that should be worked in to the plan in the most fluid way by the entrepreneur putting it together. I imagine that I am not the only one who read the article and was enlightened as to the fact that investors would care more about hearing about pitfalls of the potential business than seeing projected earnings. I thought his use of the frequent checklist of questions that an entrepreneur should be asking himself within each section was especially useful and pertinent to this class and the upcoming plans we will be writing. This article overall is definitely a useful introduction to this class and writing business plans in general. Below is a summarization of the Sahlman article “How to Write a Great Business Plan,” followed by a brief analysis of the same article. Summary In this article, Sahlman presents some common misconceptions surrounding the contents of a modern business plan. He briefly discusses what he feels is incorrect about business plans and then attempts to correct these common mistakes in a detailed manner. He does so by discussing the actual content of the business plan instead of trying to provide a cookie-cutter template.
Approximate Word count = 1600
Approximate Pages = 6.4
(250 words per page double spaced)
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