When should you launch your business plan?

[FishBowl]

Hi all,

Matt from Sharabang Music is one of 3 start-up businesses to feature on business reality website http://www.inafishbowl.com.

Matt, along with the other entrepreneurs, posts blogs, videos and tweets about his business as it happens. When a blog brings up an interesting question or topic, I post it to forums like this so that we can get advice for the entrepreneurs but also because the topics tend to be quite general and the discussion may help other businesses too.

Matt's latest blog post is centred around the idea of a business plan - how much of it do you launch at once?

Sharabang Music | Follow Matt Stockman in his Record Label on in a fishbowl | IN A FISHBOWL

Like many other entrepreneurs, Matt's got so many ideas. But when should he launch his business? When he has added all of his ideas and has everything in place? Or should he launch now and add to the business as he goes?

Does anyone have any advice or thoughts?

[mtnjkwe]

I personally have being a victim of pushing things till its all "perfect".
Unfortunately, "it" can never be perfect, that is why youve got "updates" ----> In quotes "You will never reach if you dont start"

Nevertheless, I also believe in trying to make everything perfect before releasing my business plans.

[mcfarldr1]

I've always read that the business plan changes as you go. As for launching it, that should be before he has any investors.

[noob]

Regarding what mcfarldr1 said, business plans changes rapidly in a startup and I can validate that for sure from personal experience. Even if he has a million and one ideas, being an entrepreneur means focusing on a key goal and a core product. Having multiple ideas won't do him any good. He should build a functional prototype with as little bugs as he can find (preferrably none that he can find himself) and launch as soon as possible and allow the market to test the product for him and adjust accordingly. That's how successful businesses are made.

[veikoh]

To whome you want to launch it? If your business already makes money, then you do not need a business plan. If you want to ask a loan, then bank asks your business plan. If you want to find a person who will invest to you, then they probably will ask a business plan. And everyone have their own requirements for business plan, so there isn't any common format.

[faisallatif]

business plans changing rapidly and its vary from industry to industry, and person to person. a BUSINESS plan consist of
1. financial plan
2. marketing plan
3. operation plan
but all these things depends upon what is ur business and what are ur target audience.