What Must an Entrepreneur Do After Creating a Business Plan?

Creating a business plan is a critical milestone for any entrepreneur. It maps out your vision, goals, strategy, and projected financials. But once that plan is complete, the real work begins. If you’re wondering what must an entrepreneur do after creating a business plan, the answer lies in execution, validation, and adaptability. Here’s a detailed breakdown of the steps entrepreneurs must take after finalizing their business plan.

Key Takeaways

• Execution Comes After Planning: Creating a business plan is just the beginning. The next crucial step is to execute and test the business model in the real world.
• Validation is Vital: Entrepreneurs must validate their idea through customer feedback, prototypes, or market testing before committing full-scale resources.
• Legal and Financial Setup is Essential: Registering the business, securing licenses, and setting up finances form the foundation for legal and professional operations.
• Build the Right Team: Delegating roles to capable individuals helps entrepreneurs focus on strategy and long-term growth.
• Marketing Drives Momentum: A solid marketing strategy—including branding, digital presence, and customer outreach—is key to gaining visibility and traction.
• Adaptability Wins: Entrepreneurs should track KPIs and be ready to pivot or adjust their business plan as market demands evolve.
• Know What to Assume: New business owners must expect initial delays, unplanned costs, and a learning curve when launching a startup or franchise.

1. Validate the Business Idea in the Real World

Even the most well-structured business plan is still a theory until it’s tested in the real market. The first step post-planning is to validate your product or service with potential customers.

How to do this:

• Conduct surveys or interviews with your target audience.
• Create a prototype or MVP (Minimum Viable Product).
• Collect feedback to identify gaps, opportunities, or challenges.

By validating the idea, entrepreneurs reduce risk and align their product offering with real demand—essential for sustainable success.

2. Register the Business and Fulfill Legal Requirements

Once the idea has some traction, entrepreneurs should formally register their business and comply with local legalities. This may include:

• Choosing a business structure (sole proprietorship, LLC, corporation, etc.)
• Registering the business name.
• Acquiring necessary licenses, tax IDs, and insurance.

These steps protect your brand and ensure your business operates legally and professionally from day one.

3. Secure Funding and Budget Strategically

Your business plan likely outlines financial projections, but now it’s time to secure the necessary capital. Depending on your model, this could involve:

• Bootstrapping
• Bank loans
• Angel investors or venture capital
• Crowdfunding

Create a realistic financial runway and maintain a detailed budget. Every dollar should align with growth goals, whether it’s for hiring, marketing, or inventory.

4. Build a Team and Delegate Wisely

No entrepreneur succeeds alone. After planning, you need the right team to bring the vision to life.

Roles to consider:

• Marketing and sales professionals
• Developers or product designers
• Customer support agents
• Operations and logistics managers

Delegate based on skills and experience. This not only ensures smoother workflows but allows you to focus on strategic growth.

5. Launch a Marketing Plan and Build Your Brand

An effective go-to-market strategy is essential. Your brand identity—logo, website, messaging—must resonate with your target audience.

Focus on:

• Building a strong online presence (website, social media, Google Business Profile)
• Running initial promotions or giveaways
• Implementing SEO and paid ads to generate traffic

Marketing isn’t a one-time task. It’s a continuous cycle of testing, optimizing, and engaging your audience.

6. Track Progress and Adjust the Plan

Your business plan isn’t static. One of the smartest things an entrepreneur can do is regularly monitor KPIs (key performance indicators) and pivot when needed.

Examples:

• Adjusting pricing after customer feedback
• Exploring new marketing channels
• Revising the sales process to increase conversions

This agility makes the difference between businesses that grow and those that stagnate.

7. Understand Key Assumptions When Starting a Business

At the core, what must an entrepreneur assume when starting a business includes several risks and responsibilities:

• Revenue may be slower than projected.
• Expenses might exceed the original budget.
• Customer acquisition may take longer than expected.
• Competitors will challenge your value proposition.

Being mentally and financially prepared for these assumptions helps you stay resilient when challenges arise.

8. Additional Considerations for Franchise Entrepreneurs

Franchise ownership has its own set of post-business-plan actions. If you’re going this route, understand that an entrepreneur who opens a franchise must assume debts, keep profits, offer training, and select sites that align with the franchise’s brand guidelines.

This includes:

• Reviewing the franchise agreement in detail.
• Securing funding to cover franchise fees, build-out, and inventory.
• Hiring and training employees per the franchisor’s protocols.
• Finding a high-traffic, suitable location for success.

While a franchise offers a ready-made business model, the execution still demands leadership, financial investment, and operational diligence.

Final Thoughts

To summarize, what must an entrepreneur do after creating a business plan is not just about following a checklist—it’s about transforming a vision into reality through validation, funding, legal steps, team building, and smart marketing. Each action builds momentum and moves the business from the idea stage to operational success.

Being proactive, adaptable, and data-driven will set you apart in today’s competitive landscape—whether you’re building from scratch or opening a franchise.

FAQs

1. What must an entrepreneur do after creating a business plan?

After creating a business plan, entrepreneurs should validate their idea, register the business, secure funding, build a team, launch a marketing plan, and continuously monitor performance.

2. What must an entrepreneur assume when starting a business?

An entrepreneur must assume that there will be unexpected challenges like delayed revenues, increased expenses, customer acquisition issues, and the need for quick decision-making under pressure.

3. What are the next legal steps after completing a business plan?

Legal steps include registering your business entity, getting a tax ID, securing licenses and permits, and opening a business bank account.

4. What does an entrepreneur who opens a franchise need to be aware of?

An entrepreneur who opens a franchise must assume debts, keep profits, offer training, and select sites that meet the franchisor’s criteria. They should also follow brand standards and maintain quality control.

5. Is marketing necessary immediately after launching the business?

Yes. Marketing is crucial from day one to attract customers, build brand recognition, and establish an online presence.

6. Can I change my business plan after launching?

Absolutely. A business plan should be a flexible guide. Based on real-world performance and feedback, you should refine your strategy regularly.