Is a Business Plan the same thing as a roadmap?

Question

Is a Business plan the same thing as a roadmap?

I hear both of those terms. Just making sure if it is or not the same

Answer 1

A roadmap is usually a very general idea with steps that you can reach and thus see progression. A business plan is a detailed description of the business and how it can succeed, and does not deal with steps, but with how it is unique and special and worthy of success, and how it makes up for any bad points that exist (like how do you expect this business to succeed in a highly price-sensitive market that already is saturated by suppliers?). It isn't the step by step process that you discuss, but the overall strategy (we will beat price sensitivity by providing superior quality (or whatever idea you have to make yourself survive where others are struggling)).



A business plan almost always contains an overview of the potential market and who would be the competition, because you have to have an idea of how you will take business from them. They won't just let that happen in most markets.

Answer 2

If you're thinking of starting a business, I strongly advise you to visit SCORE. SCORE is a charity consisting primarily of former businesspeople who volunteer to help young entrepeneurs get started...but also to decide if their idea is viable.



https://www.score.org/

Answer 3

I would think a road map (in business terms) is more vague than a business plan.

Answer 4

People compare it to a road map, but of course, it's not exactly the same. It's mostly a budget- how much money is needed to start a business, how the business is going to be advertised, etc.