Business Concept

The business concept is the idea of the business. It's the thinking that underlays the creation, establishment, and development of the business. It gives rise to the organizational development, strategic planning, marketing strategies, financial planning, monetization strategy, and everything else.

Some people may equate it with a business plan, but not me. The business concept comes first. Everything else follows.

Before you start a business plan you should write a business concept paper. It's a 3-4 page document that lays out the thinking underlying the business.

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