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Technology Ventures

From Idea to Enterprise

Chapter 7: The Business Plan

How are ventures actually formed and what is the role of the business plan?

Entrepreneurs respond to attractive opportunities by forming new ventures. In this chapter, we consider the five-step process for establishing a new enterprise. One particularly noteworthy step in the process is the development of a story and business plan. The story is a compelling synopsis of why this venture is needed at this moment of time and how it can achieve success. We then detail the task of writing a business plan, which is a significant and challenging effort for entrepreneurs.

To see these talks in their entirety or to access related materials, go to Stanford Entrepreneurship Corner

Other Materials

Business Plans that Work - Timmons, Zacharakis, & Spinelli Plans That Work arms entrepreneurs and small business owners with an easy-to-follow template for writing persuasive business plans, along with proven models that can be used to analyze potential business opportunities from initial idea to viable venture. This value-packed book will show both entrepreneurs and current business owners how to:

• Determine what to include in each plan, why, and for whom
• Recognize and avoid common pitfalls in the process
• Use the renowned "Timmons Model" to analyze potential business opportunities

How to Write a Great Business Plan A great business plan is one that focuses on a series of questions which relate to the four critical factors critical to the success of every new venture: the people, the opportunity, the context, and the possibilities for both risk and reward. This is a condensed version of Sahlman's longer article in book 'The Entrepreneurial Venture'

Frank Moyes - Colorado Leeds School of Business Professor Frank Moyes has a number of useful business plans templates and references available on his web site. There also many complete business plans from a breadth of different industries that can be leveraged as additional examples or case readings.

Financial Modeling for Startup Companies

Peter Kent of Insight Business Tools provides a slide deck on how and why financial models can help entrepreneurs in the business planning process.

Introduction

Book contents.

• Table of Contents
• ...................................
• Part I: Venture Opportunity, Concept, and Strategy
• Ch 6: Risk and Return
• Ch 7: The Business Plan
• Ch 8: Types of Ventures
• Ch 9: Knowledge, Learning, and Design
• Ch 10: Legal Formation and Intellectual Property
• Part III: Detailed Functional Planning for the Venture
• Part IV: Financing and Building the Venture
• Chapter Video Clips

Additional Resources

• Sample Syllabi
• Authors Blog
• Entrepreneurship Blogs
• Testimonials
• Schools Using this Textbook
• Entrepreneurship Corner

Learn together with your colleagues

Participants report that enrolling in a program with colleagues fosters collaborative learning and amplifies their impact.

Please provide your details to get more information about the group-enrollment pricing.

The benefit of learning together with your friend is that you keep each other accountable and have meaningful discussions about what you're learning.

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Based on the information you provided, your team is eligible for a special discount, for Launching a Startup starting on June 6, 2024 .

We’ve sent you an email with enrollment next steps. If you’re ready to enroll now, click the button below.

Launching a Startup

Get your brochure.

June 6, 2024

6 weeks, online 4-6 hours/week

PROGRAM FEE

US$2,800 US$2,576 and get US$280 off with a referral

For Your Team

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Application Details

Program fee, us$2,800 us$2,576, a prototype for startup success.

If there was a proven system for mitigating one’s risk in starting a new venture, what would it look like?

Startups by the Numbers

Why do so many startups fail?

no market need

Source: CB Insights August 3, 2021

got outcompeted

SOURCE: CB INSIGHTS August 3, 2021

pricing/cost issues

Key Takeaways

• Analyze various techniques to develop a product prototype.
• Conduct effective interviews with potential customers to develop your customer personas.
• Create and describe a value proposition for a specific product.
• Develop a go-to-market (GTM) plan, and determine key metrics, such as customer acquisition costs (CACs).
• Present a viable profit model for a specific product.
• Apply the four-step entrepreneurship framework to a final capstone project.
• Learn entrepreneurship best practices, and avoid common pitfalls.
• Use strategies based in neuroscience to influence the decisions of stakeholders.

This program is ideal for aspiring entrepreneurs and innovators who want to:

Test an idea before the investment stage to increase their odds of success in the market.

Get proven, research-driven frameworks that translate into having the inner confidence to move forward with their vision.

Learn from the same faculty and thought leaders who contribute to Silicon Valley’s revered startup ethos.

Program modules.

• Realize the importance of open-ended questions and how to develop effective interview questions.
• Analyze techniques for an effective interview, and synthesize interview information into customer personas.
• Explore what prototyping is and the significance of low-resolution prototyping.
• Learn prototype development, and assess user needs by gathering feedback on a prototype.
• Craft an ideal positioning statement, including each of the key components.
• Understand the importance of tying the value proposition to specific pain points, and develop a hypothesis for testing your value proposition.
• Understand the importance of direct and indirect GTM strategies.
• Examine a sample GTM strategy.
• Determine the CAC for a product and its implications.
• Examine the factors and considerations that determine the price of a product.
• Evaluate the viability of a product based on customer lifetime value (LTV) and total addressable market (TAM).
• Reevaluate your reasons for pursuing entrepreneurial endeavors.
• Explain the basic neurobiology of acute and chronic stress and how stress impacts decision making.
• Create a plan for your capstone project using the entrepreneurship road map.

Program Walkthrough

Access to Stanford Graduate School of Business (GSB) proprietary strategy tools and frameworks

Live session with faculty

Manageable time investment (4-6 hours/week)

Assignments for you to apply learnings to your own product, organization, or idea

Real-world case studies and industry examples

Feedback on select assignments to ensure understanding of the program material

Certificate of completion from Stanford Graduate School of Business

Featured Program Elements

Original strategic frameworks and tools from Stanford Graduate School of Business faculty

Featured case studies and examples, including Mon Ami, Calyx Flowers, Lumo Bodytech, Aqualisa, Proper Good, and more

Capstone project designed to focus and advance your entrepreneurial vision

Meet the faculty.

James M. Lattin

The Robert A. Magowan Professor of Marketing

The Sanwa Bank, Limited; Professor of Marketing

Stefanos Zenios

The Investment Group of Santa Barbara Professor of Entrepreneurship and Professor of Operations, Information & Technology; Director, Center for Entrepreneurial Studies

James M. Lattin The Robert A. Magowan Professor of Marketing Professor Lattin is the former faculty director of the Stanford Ignite–Bangalore program on innovation and entrepreneurship, and former curriculum director of the Stanford Seed Program. His research has examined consumer purchase behavior, customer relationship management, and loyalty/reward programs, with a more recent focus on customer acquisition, go-to-market strategy, and salesforce productivity. In the Stanford MBA program, he teaches elective courses on customer acquisition, building and managing sales organizations, and the fundamentals of effective selling.

Baba Shiv The Sanwa Bank, Limited; Professor of Marketing Professor Shiv has done extensive work on the emotional brain, documenting its powerful role in shaping decisions and experiences. His work includes the application of neuroeconomics to the study and practice of innovation and entrepreneurial leadership in companies, from Silicon Valley startups to Fortune 500 companies, as well as countries including India, Malaysia, and New Zealand. He frequently consults with and is on the advisory boards of several startups.

Stefanos Zenios The Investment Group of Santa Barbara Professor of Entrepreneurship and Professor of Operations, Information & Technology; Director, Center for Entrepreneurial Studies Professor Zenios is the faculty co-director of Stanford GSBʼs Center for Entrepreneurial Studies. He is an innovative teacher and researcher, and the main architect of Startup Garage, a popular GSB course that helps hundreds of Stanford GSB students and executives learn and apply the innovation processes that are at the center of the Silicon Valley ecosystem. He also oversees the Stanford GSB Venture Studio: a vibrant learning facility for Stanford graduate students across all disciplines who want to learn about designing and creating sustainable, high-impact ventures.

Guest Speakers

Mudit Garg CEO and Co-Founder, Qventus

Gayatri Datar Co-founder, EarthEnable

Tony Xu CEO and co-founder, DoorDash

Beth Gerstein Co-Founder, Brilliant Earth

Certificate

Upon completion of this program, you will receive a certificate of completion from Stanford Graduate School of Business.

Is Launching a Startup a suitable program on how to start a business?

Absolutely. The Launching a Startup program is not just a program on how to start a business, but is also an effective way to study entrepreneurship online. Through this program, you will learn about extensively researched strategies and methodologies proven by successful startup founders to help you transform your ideas into practical business models.

What opportunities does the Launching a Startup program provide to learn entrepreneurship?

The Launching a Startup program provides an opportunity to learn entrepreneurship and study this field online. It is an ideal program on how to start a business. Participants will not only delve into developing a product prototype, interviewing potential customers, crafting a value proposition, creating a go-to-market strategy, but also master how to sidestep common entrepreneurial pitfalls. The hands-on learning this program provides is invaluable when starting a business.

How do I know if this program is right for me?

After reviewing the information on the program landing page, we recommend you submit the short form above to gain access to the program brochure, which includes more in-depth information. If you still have questions on whether this program is a good fit for you, please email [email protected] , and a dedicated program advisor will follow up with you very shortly.

Are there any prerequisites for this program?

Participants must be 18 years old or above to apply to this program. Some programs do have prerequisites, particularly the more technical ones. This information will be noted on the program landing page and in the program brochure. If you are uncertain about program prerequisites and your capabilities, please email us at [email protected] for assistance.

Note that, unless otherwise stated on the program web page, all programs are taught in English and proficiency in English, is required.

What is the typical class profile?

More than 50 percent of our participants are from outside the United States. Class profiles vary from one cohort to the next, but, generally, our online certificates draw a highly diverse audience in terms of professional experience, industry, and geography—leading to a very rich peer learning and networking experience.

What other dates will this program be offered in the future?

Check back to this program web page or email us at [email protected] to inquire if future program dates or the timeline for future offerings have been confirmed.

How much time is required each week?

Each program includes an estimated learner effort per week. This is referenced at the top of the program landing page under the Duration section, as well as in the program brochure, which you can obtain by submitting the short form at the top of this web page.

How will my time be spent?

We have designed this program to fit into your current working life as efficiently as possible. Time will be spent among a variety of activities including:

• Engaging with recorded video lectures from faculty
• Attending webinars and office hours, as per the specific program schedule
• Reading or engaging with examples of core topics
• Completing knowledge checks/quizzes and required activities
• Engaging in moderated discussion groups with your peers
• Completing your final project, if required

The program is designed to be highly interactive while also allowing time for self-reflection and demonstrating an understanding of the core topics through various active learning exercises. Please contact us at [email protected] if you need further clarification on program activities.

A dedicated program support team is available 24/5 (Monday to Friday) to answer questions about the learning platform, technical issues, or anything else that may affect your learning experience.

How do I interact with other program participants?

Peer learning adds substantially to the overall learning experience and is an important part of the program. You can connect and communicate with other participants through our learning platform.

What are the requirements to earn the certificate?

Each program includes an estimated learner effort per week, so you can gauge what will be required before you enroll. This is referenced at the top of the program landing page under the Duration section, as well as in the program brochure, which you can obtain by submitting the short form at the top of this web page. All programs are designed to fit into your working life. This program is scored as a pass or no pass; participants must complete the required activities to pass and obtain the certificate of completion. Some programs include a final project submission or other assignments to obtain passing status. This information will be noted in the program brochure. Please contact us at [email protected] if you need further clarification on any specific program requirements.

What type of certificate will I receive?

Upon successful completion of the program, you will receive a smart digital certificate. The smart digital certificate can be shared with friends, family, schools, or potential employers. You can use it on your cover letter or resume or display it on your LinkedIn profile. The digital certificate will be sent approximately two weeks after the program, once grading is complete.

Can I get the hard copy of the certificate?

No, only verified digital certificates will be issued upon successful completion. This allows you to share your credentials on social platforms such as LinkedIn, Facebook, and Twitter.

Do I receive alumni status after completing this program?

No, there is no alumni status granted for this program. In some cases, there are credits that count toward a higher level of certification. This information will be clearly noted in the program brochure.

How long will I have access to the learning materials?

You will have access to the online learning platform and all the videos and program materials for 12 months following the program start date . Access to the learning platform is restricted to registered participants per the terms of agreement.

What equipment or technical requirements are there for this program?

Participants will need the latest version of their preferred browser to access the learning platform. In addition, Microsoft Office and a PDF viewer are required to access documents, spreadsheets, presentations, PDF files, and transcripts.

Do I need to be online to access the program content?

Yes, the learning platform is accessed via the internet, and video content is not available for download. However, you can download files of video transcripts, assignment templates, readings, etc. For maximum flexibility, you can access program content from a desktop, laptop, tablet, or mobile device. Video lectures must be streamed via the internet, and any livestream webinars and office hours will require an internet connection. However, these sessions are always recorded, so you may view them later.

Can I still register if the registration deadline has passed?

Yes, you can register up to seven days after the published start date of the program without missing any of the core program material or learnings.

What is the program fee, and what forms of payment do you accept?

The program fee is noted at the top of this program web page and usually referenced in the program brochure as well. Flexible payment options are available (see details below as well as at the top of this program web page next to FEE).

What if I don’t have a credit card? Is there another method of payment accepted?

Yes, you can do the bank remittance in the program currency via wire transfer or debit card. Please contact your program advisor, or email us at [email protected] for details.

I was not able to use the discount code provided. Can you help?

Yes! Please email us at [email protected] with the details of the program you are interested in, and we will assist you.

How can I obtain an invoice for payment?

Please email [email protected] with your invoicing requirements and the specific program you’re interested in enrolling in.

Is there an option to make flexible payments for this program?

Yes, the flexible payment option allows a participant to pay the program fee in installments. This option is made available on the payment page and should be selected before submitting the payment.

How can I obtain a W9 form?

Please email us at [email protected] for assistance.

Who will be collecting the payment for the program?

Emeritus collects all program payments, provides learner enrollment and program support, and manages learning platform services.

What is the program refund and deferral policy?

For the program refund and deferral policy, please click the link here .

Still Not Sure?

Continue exploring available programs.

Didn't find what you were looking for? Write to us at [email protected] or Schedule a call with one of our Academic Advisors or call us at +1 401 443 9709  (US) / +44 127 959 8043  (UK) / +65 3129 4367 (SG)

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Anatomy of a business plan : the step-by-step guide to building your business and securing your company's future

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Description

Creators/contributors, contents/summary.

• Business plan consideration
• Cover sheet & table of contents
• Executive summary
• Part I: the organizational plan
• Part II: the marketing plan
• Part III: financial documents
• Part IV: supporting documents
• U.S. tax information: aid to business planning
• Business planning for a nonprofit
• Packaging and updating your business plan
• Financing your business
• Resource lists & links for business plan research.

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Planning for the Vision

Main navigation.

Stanford's Vision arose out the ideas of our community

Call for ideas

Stanford leadership set out to envision the future of the university by tapping into the collective wisdom and creativity of its people. During the 2017-18 academic year, Stanford asked faculty, undergraduate students, graduate students, postdocs, staff, academic staff and alumni for input, generating more than 2,800 ideas.

Identifying themes

Four steering groups led by faculty and including more than 100 people identified common themes in the proposals and organized those into a conceptual framework. That work resulted in 37 white papers.

Planning leads to action

The 37 white papers were shared with the campus community to inform the ongoing work of the university and to identify areas for further study. Based on those conversations, Stanford’s Executive Cabinet formed 23 cross-campus design teams that met throughout the 2018-19 academic year to develop  recommendations  for action

Following presentations to Stanford’s Executive Cabinet, some recommendations were integrated, distilled and adapted, resulting in a series of initiatives that were structured to integrate with and complement schools, departments, institutes and centers. These initiatives form the vision that will guide the university's education, research and impact over the next decade. Other design team recommendations are informing and enhancing existing foundational work of the university.

Go ahead, have it all.

Join the stanford innovation and entrepreneurship all-access plan..

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Who likes restrictions? Not us.

Give yourself the freedom to learn and grow in 2021. The Stanford Innovation and Entrepreneurship certificate teaches you how to think and act differently so that you can solve your biggest business challenges. With topics spanning from design thinking and entrepreneurship to operations and leadership, you can customize your learning track to meet your personal and professional goals.

Within months, you will learn to:

• Negotiate with power and confidence
• Unleash your creativity
• Lead with vision and passion

Say hello to a year of unlimited access.

With the Stanford Innovation and Entrepreneurship All-Access Plan, you pay once and get access to all 14 courses in the certificate program. You can take courses in any order, sequentially or simultaneously, and move freely in and out of all courses. You’ll have access to a teaching team that will help answer any questions on your coursework and assignments for the entire time.

Pay for eight courses, get six free, and access them all for an entire year. Total cost is $7,960.

Benefits of the  All-Access Plan

Get 14 courses for the price of 8.

Make a single purchase

Access all courses with 1 transaction, for easy reimbursement.

Learn on your own time

You have 1 year to complete courses at your own pace, in any order you choose.

Earn a certificate

Complete 8 courses to earn a Professional Certificate.

Featured Courses

Cultivating the Entrepreneurial Mindset Discover the key ingredients that drive success in entrepreneurial companies.

Leading Innovation Learn the differences between leading innovation and managing routine work and how to stay in tune with the people you lead.

Innovation Strategy: How to Find Inspiration This course will teach you how to provoke new ways of thinking and get inspired when you need it the most.

Building Company Culture Learn how to attract and hire top talent, manage teams, mitigate friction, and grow your company's culture.

Empathize and Prototype: A Hands on Dive into the Key Tools of Design Thinking Master techniques for gaining empathy with customers through hands-on exercises.

Graduate or Professional?

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Graduate Certificate Courses

90–120 hours per course

Earn up to 18 units of academic credit that may contribute to a certificate or a degree

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6–13 hours per course

Earn a certificate and, in some cases, professional education units

Potential to connect with other participants through private social media groups

Interested in Artificial Intelligence? Check out these online certificate programs:

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Take online courses in marketing innovation from Stanford University. Hone your ability to generate and implement new ideas and lead innovative teams and organizations. Taught by world-class Stanford faculty, these courses are engaging, interactive, and full of useful practices and strategies that you can apply immediately:

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Embrace: Deciding on a Hybrid Structure

While attending Stanford, the Embrace team developed an idea for an innovative infant warmer to help low-birth-weight infants. The early prototype looked much like a sleeping bag for babies. While the form factor was unique, the real breakthrough was a reusable pouch of phase-change material that could be heated to 98-degrees Fahrenheit and maintain that temperature for several hours. When inserted into the sleeping bag, it would safely and reliably keep the baby warm. As designed, the warmer was small and light, transportable, and easy to use. Importantly, it also had the potential to be produced at a fraction of the cost of available incubators, even those already designed for the developing world.

Enthusiastic about the possibility of helping millions of low-birth-weight babies, the team decided to pursue their idea beyond the end of the course, creating a nonprofit called Embrace Global to further develop and commercialize the technology. Over time, however, the team discovered that it had underestimated the amount of time required to raise the needed capital to transition from a prototype to a market-ready product. After consulting with its board of directors, other advisors, and legal experts, the team thought that, at this stage in its development, becoming a for-profit or hybrid organization could position it for faster growth and greater scalability because it would be able to access larger sums of money in the form of equity investments. However, Embrace realized that as a company with private investors, who would be seeking a financial return on their invested capital, it could be more difficult for Embrace to justify targeting markets and customer segments that were considered small or otherwise unattractive by commercial standards. This mini-case study explores how Embrace decided to pursue a hybrid structure and the steps it took to balance these competing priorities in devising the new model.

This story is part of the Global Health Innovation Insight Series developed at Stanford University to shed light on the challenges that global health innovators face as they seek to develop and implement new products and services that address needs in resource-constrained settings.

Acknowledgements: We would like to thank Jane Chen of Embrace for her participation. This research was supported by the National Institutes of Health grant 1 RC4 TW008781-01.

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