Strategy

Chapter 6: The Business Story and Plan

Tom Byers, Stanford University,
Andrew Nelson, University of Oregon
and Richard Dorf, University of California, Davis

Entrepreneurs respond to attractive opportunities by forming new firms. 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 a business plan, including a compelling business model. The story is a compelling synopsis of why this venture is needed at this moment in time and how it can achieve success. We then detail the task of writing a business plan, which is an effort to better prepare the venture for testing its assumptions and hypotheses. An example of a well-prepared business model is provided in appendix A. Visit the textbook website for additional sample business plans, models and slide (or pitch) decks.

1. “Purpose of a Business Plan” with Tom Byers, Stanford University

2. “Work Backwards From the Customer” with Diego Piacentini, Amazon

3. “Have a Sense of Urgency” with Mike Maples, Floodgate

Continue to Chapter 7

Tom Byers

Tom Byers, Stanford University

Tom Byers is a Professor in the Department of Management Science & Engineering at Stanford University and a faculty director of the Stanford Technology Ventures Program (STVP).

Andrew Nelson, University of Oregon

Andrew Nelson is Associate Vice President for Entrepreneurship and Innovation and an Associate Professor of Management at the University of Oregon.

Richard Dorf, University of California, Davis

Richard C. Dorf is a Professor Emeritus of Management and Electrical and Computer Engineering at the University of California, Davis.

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