In the world of business today, there are 3 “Musketeer”-questions for which there seem to be a virtually infinite amount of answers or “Blah-Blah-Blah!” Entrepreneurs, strategists, investors, and academics alike are struggling to properly answer the 3 Musketeer-questions. The 3 Musketeer-questions are as follows: What is a business plan? What is a business model? What is strategy? Lack of consensus on the meaning of business plan, business plan, and strategy creates a lot of confusion regarding the conceptualization, planning, and management of business projects in startups as well as established organizations. in the absence of a shared understanding of what business plan, business model, and strategy means, lots of money, energy, and time are wasted on business projects. However, holistically examining and visually defining a business plan, business model, and strategy resolve nearly all of the conflicts between these terms. The admittedly dense or multi-layered infographic above visually explores and synthesizes meanings of the terms of business plan, business model, and strategy. Also, similarities and differences between the terms can be visually observed. One advantage of the above 1-page infographic is that it could facilitate the creation of a shared visual language for exploring as well as discussing the terms of business plan, business model, and strategy. Visually and deeply understanding the diagram could eliminate the confusion between the terms. As the saying goes, a picture is worth a thousand words. I’d say, a model is worth more than a thousand pictures. So, happy exploration. Should you have further comments and questions, do let us know.

1. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Business
Plan
vs.
Business
Model
vs.
Strategy
Business
Plan
Circle
PLAN
(VISION)
BUSINESS
MODEL
Value
ProposiSon
STRATEGY
HOW?
WHAT?
Exactly
How?
WHY?
ORGANIZATION
(Project:
Product/
Service)

2. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Business
Plan
vs.
Business
Model
vs.
Strategy
Business
Plan
Circle
PLAN
(VISION)
BUSINESS
MODEL
Value
ProposiSon
STRATEGY
HOW?
WHAT?
Exactly
How?
WHY?
Bo=om
(OperaAonal;
Emergent)
Top
(Visionary;
Deliberate)
Management
ORGANIZATION
(Project:
Product/
Service)

3. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Business
Plan
vs.
Business
Model
vs.
Strategy
Business
Plan
Circle
PLAN
(VISION)
BUSINESS
MODEL
Value
ProposiSon
STRATEGY
HOW?
WHAT?
Exactly
How?
WHY?
ENVIRONMENT
(MARKET/
INDUSTRY:
Un/Predictability)
Bo=om
(OperaAonal;
Emergent)
Top
(Visionary;
Deliberate)
Management
ORGANIZATION
(Project:
Product/
Service)

4. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Business
Plan
vs.
Business
Model
vs.
Strategy
Business
Plan
Circle
PLAN
(VISION)
BUSINESS
MODEL
Value
ProposiSon
STRATEGY
HOW?
WHAT?
Exactly
How?
WHY?
ENVIRONMENT
(MARKET/
INDUSTRY:
Un/Predictability)
Bo=om
(OperaAonal;
Emergent)
Top
(Visionary;
Deliberate)
Management
ORGANIZATION
(Project:
Product/
Service)
Internal
(Inside
OrganizaAon)
External
(Outside
OrganizaAon)

5. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Business
Plan
vs.
Business
Model
vs.
Strategy
Why
vs.
What
vs.
How
=
Storyboard
vs.
Panel
vs.
Method
=
Script
vs.
Plot
vs.
Process
Business
Model
“Business
Model”
maps
the
logic
of
how
a
business
sustainably
makes
profit
Business
Plan
“Business
Plan”
describes,
from
present
to
future,
how
a
business
sustainably
makes
profit

6. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Business
Plan
vs.
Business
Model
vs.
Strategy
Why
vs.
What
vs.
How
=
Storyboard
vs.
Panel
vs.
Method
=
Script
vs.
Plot
vs.
Process
Business
Model
“Business
Model”
maps
the
logic
of
how
a
business
sustainably
makes
profit
Business
Plan
“Business
Plan”
describes,
from
present
to
future,
how
a
business
sustainably
makes
profit
Storyboard
Present
Business
Model
Future
Business
Model
“Red
Ocean”
Resources
(Facts)
“Blue
Ocean”
Resources
(Vision/Hypotheses)
BUSINESS
PLAN
(NormaAve)

7. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Business
Plan
vs.
Business
Model
vs.
Strategy
Why
vs.
What
vs.
How
=
Storyboard
vs.
Panel
vs.
Method
=
Script
vs.
Plot
vs.
Process
Business
Model
“Business
Model”
maps
the
logic
of
how
a
business
sustainably
makes
profit
Business
Plan
“Business
Plan”
describes,
from
present
to
future,
how
a
business
sustainably
makes
profit
S:
Supplier
C:
Customer
Product/
Service
Payment
Storyboard
Panel
(Unit)
Present
Business
Model
Future
Business
Model
“Red
Ocean”
Resources
(Facts)
“Blue
Ocean”
Resources
(Vision/Hypotheses)
BUSINESS
PLAN
(NormaAve)

8. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Business
Plan
vs.
Business
Model
vs.
Strategy
Why
vs.
What
vs.
How
=
Storyboard
vs.
Panel
vs.
Method
=
Script
vs.
Plot
vs.
Process
Business
Model
“Business
Model”
maps
the
logic
of
how
a
business
sustainably
makes
profit
Business
Plan
“Business
Plan”
describes,
from
present
to
future,
how
a
business
sustainably
makes
profit
S:
Supplier
C:
Customer
Product/
Service
Payment
Storyboard
PLANNING
IMPLEMENTATION
STATUS
of
BUSINESS
PROJECT
at
a
given
Ame
(Frame/“Xray”)
Panel
(Unit)
Present
Business
Model
Future
Business
Model
“Red
Ocean”
Resources
(Facts)
“Blue
Ocean”
Resources
(Vision/Hypotheses)
BUSINESS
PLAN
(NormaAve)
Where
must
organizaRon
go?
Where
currently
is
organizaRon?

9. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Business
Plan
vs.
Business
Model
vs.
Strategy
Why
vs.
What
vs.
How
=
Storyboard
vs.
Panel
vs.
Method
=
Script
vs.
Plot
vs.
Process
Business
Model
“Business
Model”
maps
the
logic
of
how
a
business
sustainably
makes
profit
Business
Plan
“Business
Plan”
describes,
from
present
to
future,
how
a
business
sustainably
makes
profit
S:
Supplier
C:
Customer
Product/
Service
Payment
Storyboard
PLANNING
IMPLEMENTATION
STATUS
of
BUSINESS
PROJECT
at
a
given
Ame
(Frame/“Xray”)
Panel
(Unit)
Present
Business
Model
Future
Business
Model
“Red
Ocean”
Resources
(Facts)
“Blue
Ocean”
Resources
(Vision/Hypotheses)
BUSINESS
PLAN
(NormaAve)
Where
must
organizaRon
go?
Where
currently
is
organizaRon?
Strategy
(OTHER
Loop)

10. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Business
Plan
vs.
Business
Model
vs.
Strategy
Why
vs.
What
vs.
How
=
Storyboard
vs.
Panel
vs.
Method
=
Script
vs.
Plot
vs.
Process
Business
Model
“Business
Model”
maps
the
logic
of
how
a
business
sustainably
makes
profit
Business
Plan
“Business
Plan”
describes,
from
present
to
future,
how
a
business
sustainably
makes
profit
S:
Supplier
C:
Customer
Product/
Service
Payment
Storyboard
PLANNING
IMPLEMENTATION
STATUS
of
BUSINESS
PROJECT
at
a
given
Ame
(Frame/“Xray”)
Panel
(Unit)
Present
Business
Model
Future
Business
Model
“Red
Ocean”
Resources
(Facts)
“Blue
Ocean”
Resources
(Vision/Hypotheses)
BUSINESS
PLAN
(NormaAve)
Where
must
organizaRon
go?
Where
currently
is
organizaRon?
Strategy
(OTHER
Loop)
How
to
get
there
(win)?
(What
benefit/cost?)

11. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Business
Plan
vs.
Business
Model
vs.
Strategy
Why
vs.
What
vs.
How
=
Storyboard
vs.
Panel
vs.
Method
=
Script
vs.
Plot
vs.
Process
Business
Model
“Business
Model”
maps
the
logic
of
how
a
business
sustainably
makes
profit
Business
Plan
“Business
Plan”
describes,
from
present
to
future,
how
a
business
sustainably
makes
profit
S:
Supplier
C:
Customer
Product/
Service
Payment
Storyboard
PLANNING
IMPLEMENTATION
STATUS
of
BUSINESS
PROJECT
at
a
given
Ame
(Frame/“Xray”)
Panel
(Unit)
Present
Business
Model
Future
Business
Model
“Red
Ocean”
Resources
(Facts)
“Blue
Ocean”
Resources
(Vision/Hypotheses)
BUSINESS
PLAN
(NormaAve)
Where
must
organizaRon
go?
Where
currently
is
organizaRon?
Strategy
(OTHER
Loop)
How
to
get
there
(win)?
(What
benefit/cost?)
ENVIRONMENT

12. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
S:
Supplier
C:
Customer
Business
Plan
vs.
Business
Model
vs.
Strategy
Why
vs.
What
vs.
How
=
Storyboard
vs.
Panel
vs.
Method
=
Script
vs.
Plot
vs.
Process
Product/
Service
Payment
Business
Model
“Business
Model”
maps
the
logic
of
how
a
business
sustainably
makes
profit
Business
Plan
“Business
Plan”
describes,
from
present
to
future,
how
a
business
sustainably
makes
profit
Where
must
organizaRon
go?
Present
Business
Model
Future
Business
Model
Strategy
(OTHER
Loop)
Where
currently
is
organizaRon?
ExperimentaSon
Mindset:
Startup
(Project:
Milestones/TacScs/Product)
Storyboard
PLANNING
IMPLEMENTATION
STATUS
of
BUSINESS
PROJECT
at
a
given
Ame
(Frame/“Xray”)
Panel
(Unit)
ENVIRONMENT
ExecuSon
Mindset:
Company
BUSINESS
PLAN
(NormaAve)
How
to
get
there
(win)?
(What
benefit/cost?)
“Red
Ocean”
Resources
(Facts)
“Blue
Ocean”
Resources
(Vision/Hypotheses)

13. Business
Plan
Metamorphosis
5
Stages/Forms
in
the
Lifecycle
of
a
Business
Plan
A
Business
Plan
is
a
“Living”
Document
World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Unpredictable
Environment
Predictable
Environment
ORGANIZATION

14. Business
Plan
Metamorphosis
5
Stages/Forms
in
the
Lifecycle
of
a
Business
Plan
A
Business
Plan
is
a
“Living”
Document
World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Unpredictable
Environment
Predictable
Environment
ORGANIZATION
Low
Uncertainty/
Risk
Extreme
Uncertainty/
Risk

15. Business
Plan
Metamorphosis
5
Stages/Forms
in
the
Lifecycle
of
a
Business
Plan
A
Business
Plan
is
a
“Living”
Document
World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Unpredictable
Environment
Predictable
Environment
ORGANIZATION
Low
Uncertainty/
Risk
Extreme
Uncertainty/
Risk
Novel
Problems
ConAnuous
Innova3on
Culture/Habit
RouSne
Problems
ConAnuous
Improvement
Culture/Habit

16. Business
Plan
Metamorphosis
5
Stages/Forms
in
the
Lifecycle
of
a
Business
Plan
A
Business
Plan
is
a
“Living”
Document
World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Unpredictable
Environment
Predictable
Environment
ORGANIZATION
Low
Uncertainty/
Risk
Extreme
Uncertainty/
Risk
Problem-­‐
SoluAon
Fit
Business
Model
Fit/
Scaling
Product-­‐
Market
Fit
Shaping
Bus.
Plan
AdapRve
Bus.
Plan
Visionary
Bus.
Plan
Classic
Bus.
Plan
Renewal
Bus.
Plan
O.T.H.E.R.
Loop
Hypothesize
&
Experiment
(Lean
Startup/EffectuaAon
Project)
Plan
&
Execute
(Six
Sigma/Planning
Project)
Novel
Problems
ConAnuous
Innova3on
Culture/Habit
RouSne
Problems
ConAnuous
Improvement
Culture/Habit
STARTUP
(Minimum
Viable
Business
Model:
MVBM)
COMPANY
(Maximum
Awesome
Business
Model:
MABM)

17. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Business
Problem
Metamorphosis
Tools
A
Business
Plan
is
a
“Living”
Document
STARTUP
COMPANY
Transi3on

18. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
Business
Problem
Metamorphosis
Tools
A
Business
Plan
is
a
“Living”
Document
STARTUP
COMPANY
Complex
Problem
q Unknown
Market
q Known
Product
Chao3c
(Wicked)
Problem
q Unknown
Market
q Unknown
Product
Stable
(Tame)
Problem
q Known
Market
q Known
Product
Simple
Problem
q Known
Market
q Unknown
Product
Disorder
Transi3on

19. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
SHAPING
BUSINESS
PLAN
ADAPTIVE
BUSINESS
PLAN
CLASSIC
BUSINESS
PLAN
VISIONARY
BUSINESS
PLAN
Business
Problem
Metamorphosis
Tools
A
Business
Plan
is
a
“Living”
Document
RENEWAL
BUSINESS
PLAN
STARTUP
Complex
Problem
q Unknown
Market
q Known
Product
Chao3c
(Wicked)
Problem
q Unknown
Market
q Unknown
Product
Stable
(Tame)
Problem
q Known
Market
q Known
Product
Simple
Problem
q Known
Market
q Unknown
Product
Disorder
Transi3on
COMPANY

20. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
CLASSIC
BUSINESS
PLAN
VISIONARY
BUSINESS
PLAN
Business
Problem
Metamorphosis
Tools
A
Business
Plan
is
a
“Living”
Document
Product-­‐Market
Fit
Problem-­‐SoluAon
Fit
(Business
Model
Discovery)
Business
Model
Fit/Scaling
(Business
Model
ExecuAon)
STARTUP
Complex
Problem
q Unknown
Market
q Known
Product
Chao3c
(Wicked)
Problem
q Unknown
Market
q Unknown
Product
Stable
(Tame)
Problem
q Known
Market
q Known
Product
Simple
Problem
q Known
Market
q Unknown
Product
SHAPING
BUSINESS
PLAN
ADAPTIVE
BUSINESS
PLAN
Disorder
Transi3on
RENEWAL
BUSINESS
PLAN
COMPANY

21. World-­‐class
Coaching
on
Lean
Startup
&
Customer
Growth
Hacking
for
Less
Than
$10/Month:
h9p://businessmodels.ning.com
Business
Strategy
Coach.
Dr.
Rod
King.
rodkuhnhking@gmail.com
&
hFp://businessmodels.ning.com
&
hFp://twiFer.com/RodKuhnKing
CLASSIC
BUSINESS
PLAN
VISIONARY
BUSINESS
PLAN
Business
Problem
Metamorphosis
Tools
A
Business
Plan
is
a
“Living”
Document
PRODUCT
BUSINESS
MODEL
STRATEGY
VISION
PROBLEM
Value
Engine
Map
S:
Supplier
C:
Customer
Business
Model
Strip
TradiSonal
Business
Plan
Product-­‐Market
Fit
Problem-­‐SoluAon
Fit
(Business
Model
Discovery)
Business
Model
Fit/Scaling
(Business
Model
ExecuAon)
Problem-­‐Vision
Pyramid
STARTUP
Complex
Problem
q Unknown
Market
q Known
Product
Chao3c
(Wicked)
Problem
q Unknown
Market
q Unknown
Product
Stable
(Tame)
Problem
q Known
Market
q Known
Product
Simple
Problem
q Known
Market
q Unknown
Product
SHAPING
BUSINESS
PLAN
ADAPTIVE
BUSINESS
PLAN
Disorder
RENEWAL
BUSINESS
PLAN
COMPANY