Lesson #3.6 The Business Plan vs Business Model

For the past five lessons we have barely been brushing the surface of entrepreneurship, mainly because I have been focusing on highlighting the benefits of being an entrepreneur, as well as the work of current entrepreneurs. I think it is high time we begin to get some of the tough work done.

Now my lecturer has been talking to us over the past couple of weeks concerning the business plan and the business model, and until now I never understood the difference. I did not even realise there was a difference and thought they were terms being used interchangeably.

According to my research I was wrong. First let us look at the powerpoint shared with us by my lecturer Mr. Gerry McDaniel. It explains step by step how to write a business plan, which is usually needed to show investors your ideas, it also helps to organise the business structure for you.

Business plan presentation

View more presentations from TShai.

While searching the web for extra resources to help me understand the difference I found this very interesting powerpoint on creating a start-up which also explains the difference between a business plan and a business model. Take a look!

Successful entrepreneurship 1

View more presentations from steve blank

Want more information on the business model? I sure did, and so I found this awesome video that explained it in even more detail.



I really hope this helped to clear up the confusion that might have had. It sure helped me. I've started working on my business model, how about you? Until next time... School's Out, Learning's In!

'Plan for the future because that’s where you are going to spend the rest of your life'. 

– Mark Twain