Original Content: https://articles.sequoiacap.com/writing-a-business-plan

Condensed Notes

• Airbnb’s founders began with little besides passion. They used Sequoia’s guide for how to write a business plan.
• It’s not slides that attract investors. It’s the ideas, clear thinking, and ambition.
• Investors love to partner when:
  • founders are hell-bent on an idea that conventional wisdom deems impossible
  • product/company is early; idea is new & has lots of room to grow

Company Purpose

Start here: define your company in a single declarative sentence. This is harder than it looks. It’s easy to get caught up listing features instead of communicating your mission.

Problem

Describe the pain of your customer. How is this addressed today and what are the shortcomings to current solutions.

Solution

Explain your eureka moment. Why is your value prop unique and compelling? Why will it endure? And where does it go from here?

Why now?

The best companies almost always have a clear why now? Nature hates a vacuum—so why hasn’t your solution been built before now?

Market potential

Identify your customer and your market. Some of the best companies invent their own markets.

Competition / alternatives

Who are your direct and indirect competitors. Show that you have a plan to win.

Business model