 I want to talk about writing a business plan because I think writing a business plan if you're in a startup from day one is the most insane thing possible to do. Think about it for a second, writing a 20 page plan on a guaranteed future. You see how I put it in quotations, guaranteed future. There is no guarantee. I think spending time writing a 20 page business plan for a startup that has no traction, that has no sales, has nothing is absolutely fucking mind-boggling insane. You should not do that at all. I've written a couple of real business plans in my life, worst decision on my life, the amount of time you have to put into it and the results you get from it is nothing, it serves you no purpose and I'll paint you a couple of pictures. In the business plan you have projections, you have sales, estimations, you have customer acquisition, you have how everything is going to look, fancy dance in this artificially bubbled universe that you're going to be building your startup in, in reality, in reality guys, when you start your startup, the plan they have on day one is not going to be the same plan you have on day 90. The day 90 plan is not going to be the same plan that you have day 120. There's no such thing as this bubble universe. You should not waste your time crafting and organizing a 20 page business plan. Please, if you read in the book that author should be slapped in the face. If you ever go on Google and type in business plan, don't do it. It serves you no purpose. There's no benefit for you for having a 20 page fucking business plan. So what are you supposed to do? The one page lean canvas model, take it from the Rockefeller habits. Yeah, the Rockefeller kit, a good book to read the Rockefeller habits. Highly recommended. Pick it up right now. Go to audible or Amazon. I don't have links for it. I don't care. Just go by it. Okay. So what is the lean canvas model? I use this for all of my startups. See that? Okay. It's simple. It's a one page. You can get this model. You know where I got this from? The lean canvas model, Google Docs online. And you can share with your whole team. It's awesome. This is why this thing kicks ass. It's agile. It's nimble. It gets right to the point one matters from day one of your startup. Okay? So first thing you gotta address in your startup is what are the main problems that you're solving? Most people start a business and they start it because they think people need it or they like it or maybe it's a hobby and I don't tell you that. I really don't know. You should be really solving problems that people have. They're willing to pay you to solve their problems. So what are the three problems that your ideal clients have? Okay. That's the first thing. Then, how are you solving them? It's a very simple problem solution. Boom, boom, boom, okay? What are the metrics you want to follow? Boom, boom, boom, okay? Then what is your... This one is unique value proposition or unique selling proposition. Boom, boom, boom, okay? Next thing, what is your unfair advantage? Like why are you so special? Like what's stopping me from going to competition with you? Maybe it's a talent you have your own team. Maybe it's an IP and a technology. Maybe it's first mover advantage. Maybe it's your subutia. Maybe it's network effect. I don't know. Write that down, unfair advantage. What you have that I don't have, okay? Customer segment. Who are you talking to? Who's exactly your customer? Is it males? Is it females? Is it people making 100K a year or is it maybe millennial? Like, I don't know. Write that down, customer segment. It's really important because that's going to determine how you market your message, your copy, the color, topography, the whole branding aspect of your business is determined on your customer segment and different funnels and et cetera, et cetera, okay? Key metrics. What's the most important thing at the beginning? Well, I'm a big believer in simplicity. It's the key to brilliance or keep it simple, stupid, kiss. Focus on email subscribers. If you have an e-commerce business, so how much visitors you have to your site? What is a conversion to an email? And then what is the lifetime value of that customer? So from that email, when a customer buys a product for you, how long does that customer stay with you and how much is that customer worth to you? So it's up to you to figure out each business is different. Each business has different metrics, but I'll keep it simple. Keep three metrics. Focus on that, okay? And what else? Channels. So distribution. Remember what Peter Teal's first law of business is? Distribution. How are you going to distribute your startup? Where are you going to get traffic for it? Where are you going to get people to know about it? So what is your online distribution? What is your offline distribution? Like, I'm not too sure what business you want to start. So figure out the distribution. Next is cost of structure, okay? So how are you running this business? Who are your partners? How are you doing everything? Very simple. It doesn't have to be complicated, right down there. And then finally, revenue streams. Great, you have all these great ideas. You have your distribution. You have your unfair advantage. You have your value proposition. How are you making the moolah? How is that organized? What different business models do you have? There's usually five business models. I'll make another video about that. I'm going into your business. So definitely have multiple different ways of making money or different revenue in your business. Doesn't mean you're going to be using all five, but you have different options and you have the flexibility and you're very nimble to go from one to the other, et cetera, et cetera. It gives you more freedom of operation when it comes to your business. That's it. You know how long you have to use this for your startup? You can use this for really, really long fucking time. You know how long it takes me to do one of these? Not too long an afternoon. You know how long it took me to do a fucking 20-page business plan? Too long, I went bald. I got my hair back now, though, as you can see. So don't make the mistake that I made and many other people made. Don't do a 20-page business plan if you have a startup right now or you have an idea for a startup. Go on Google right now. Google the business model, Canvas, Google Docs. It's free. Oh, fuck. It takes you an afternoon. That's it. That's it. And use this. You can use this for years and you change it every 90 days. That's it. Every 90 days you update this on Google Docs, roll your team. Capiche, moral of the story, don't waste your time on long business plans. They're gonna drive you nuts. They're gonna kill you. Bye.