Business Model BuilderTM
If you are still in the process of figuring out the details of how all the parts of your business will fit together then the Business Model BuilderTM will be a big help. Starting a business plan without first being able to clearly communicate the parts of your business model and the interactions between those parts is a recipe for further frustration, for three main reasons.
1. When you start putting down the details of how your business will work in the business plan you may find that some pieces (time. money, staffing, equipment, etc) don't fit the way you thought or had hoped, and you will end up spending more time re-evaluating what you will have to change to make things work and re-writing your plan than if you just take the time to do it right and build the business model first.
2. Investors and lenders know that all good business plans are built on the foundation of a well thought-through business model. When they first start talking with you they wont ask for the details of you plan, they will want to talk about your business model so they can see if you are someone they should take seriously or if you are just another person with an idea.
3. It's not always the right time or situation to pursue a business idea, but it can be hard to really know that until you get it out of your head and you can look at it from all the different angles to see if it's something you want to pursue now, or wait for a better time or better circumstances. Keeping in your head as an unfinished thought actually makes it less likely that you will ever do anything with it because its all mixed together and its hard to know what pieces you are missing to make it real. Creating the business model makes that process much easier, plus, it feels really good to get it out of your head and free up some room in there.