Having an idea is useless if you don’t have proper execution paperwork. Considering taking UAE in the loop, it’s more likely your idea will stay a random thought in your brain, especially if you don’t have a foolproof plan. Yes – that’s exactly where a business plan speaks in your favor.

Although the main essence of the business plan is pretty much the same, we have seen it evolve from parchment paper to flashy PowerPoint presentations. All this is to let your investors know why your idea is investment-worthy and how they can 2x their money.

However, this journey is way past. The world is moving faster than you ever thought, especially since the UAE has become a hub of investments. The trends have changed, and investors have no time to dig through those 30-page, boring stacks of papers. This is why you notice that business plans are taking new, more efficient shapes. That’s where we’ll be sinking our teeth in this blog.

Before taking a plunge into the evolution of business plans concerning the UAE Market, let’s address the elephant in the room: Is it really obsolete?

Are Business Plans The Debate Of The Past?

We all know about the never-ending debate of Android vs iOS. Consider this discussion as the ‘business version’ of the same hype. It’s no surprise that some young Gen Z entrepreneurs claim that business plans are the new age dinosaur ready to be wiped out from the frame. But that’s a bit of an exaggeration.

Business plans are undoubtedly still a very useful and comprehensive way of compiling the idea and execution of your plan. You can get help from business plan consultants in Dubai to create a winning plan. That traditional file may look a little tedious to read, but we can’t deny that it’s loaded with the real juice of your business.

Business Plans Morphed Into New Alternatives

The business plan is truly the king of your idea and execution compilation. However, due to UAE market trends, it’s taking new shapes and evolving into something different. Here are some of the evolutions of the business plan.

Minimum Viable Product

Don’t freak out. It may sound like something too tricky, but it’s very easy. It’s becoming a common practice to use a minimum viable product during the pitches to make it more effective. MVP is a prototype with enough features to introduce the structure of your product.

That’s only viable for product businesses, but you can really impress your investors with it. You can present your MVP with the typical presentation.

Since UAE investors are seeking more conviction, using an MVP will be a great step. It will work as a living proof that your idea is workable and will be the next big thing.

Business Model Canvas

This is another heavy term but a great one to summarize your long and tedious business plan. Investors aren’t going to invest their time flipping through the pages of your plan. They only have enough minutes to look at a brief version of your business model. Since it has similar elements to a traditional business plan, it’s also called a ‘Lean Canvas’.

This leaner version sheds light on nine main elements: key partners, key activities, key resources, value propositions, customer relationships, customer segments, distribution channels, cost structure and revenue streams.

All these elements are enough to give the synopsis of your plan, definitely without burning hours of investors.

Pitch Deck

A pitch deck is a great version of getting investors on board. This is why a business plan can easily trade it off. We know that people are visually wired and more into listening to things. UAE is no different in that perspective. Emirati investors look for something easy to digest and engaging. That’s precisely why the pitch deck fits the UAE market.

It’s a typical presentation of 10-20 slides describing more about your business, idea, model and overall execution plans. That’s not it. It teases out the real information from the business plan, like problem statement, market research, marketing mix or analysis and much more. In much simpler words – it’s more like your own ‘shark tank’ moment but with a PowerPoint slide.

Business Brief

As the term already suggests, it’s a brief version of your business plan. Otherwise, you can call it a business proposal. Only if it doesn’t stretch to 10 pages; it’s a great start. If you feel confused between them, then seek help from experts of Dubai content writing agency.

Business brief follows the same pattern as your conventional business plan. It has every important detail, like marketing analysis, financials and future projections. It’s basically a quick run down on the business plan. It’s typically kept no more than 3 to 4 pages to make it more reader-friendly for Emirati investors.

Two Noteworthy Adaptations For Emirati Sphere

Less Is More

We already had a thorough discussion on how lengthy typical business documents are. A 30 to 40-page plan is a dumb idea, especially for UAE investors. Although this applies to investors from all over the world, UAE investors have no extra time for your chat session.

You’ve got to impress them within a few minutes, and for that purpose, business plans have now evolved into lesser narratives. Either in the form of briefs or pitch decks, going for the concise version will earn you the desired results.

Breakthrough Format Shift

This is yet another adaptation of the business plan. Although the business plan is comprehensive and has everything an investor looks for, the format may be restricting for a more new-age creative entrepreneur.

Your out-of-the-box thinking can’ be captured in those dozen words. But it can surely be captured in snappy presentations and pitch decks. With any good /, you can rule this space. But keep in mind, UAE is going more towards the pitching format rather than setting up a formal meeting with boring lighting and a formal speech.

Wrap Up

Let’s cut to the chase – business plans aren’t going anywhere. They will be on the map, but we’re sure that the evolution of the business plan and its much easier alternative will capture more deals. Thanks to adaptation to the UAE’s market trend, newer alternatives are much more precise, concise and engaging for both investors and entrepreneurs. In a nutshell, It’s a win-win for both!