The Type of Business Plan That Suits You!
All business plans have common elements such as market analysis, marketing strategy or financial estimation that are mandatory regardless of the type of activity or the reason why the plan is created. Similarly, most plans have common goals, regardless of whether they are attracting capital or looking for a business partner. However, independently of the common issues, each business plan is different as all businesses are different.
Based on the type of business and the way it intends to use it, the plan may differ from one entrepreneur to another. Moreover, you will write your plan in a certain way if you intend to present it to a potential investor and otherwise for internal use (for you and your team). Based on the final goals, the business plan will vary in structure, size, or presentation, and the elements to be focused on.
Adopting the business plan to the type of functionality is extremely important because it will have a direct effect on the potential success that your business will have. With regard to the ultimate goal, anyone would like to place their business in a favorable light and in a realistic and relevant manner.
Types of business plan
In general, business plans are divided into two categories: mini-plans, operational plans and presentation plans. Here is a detailed description of each listed plan:
It contains approximately 8-10 pages and must contain key business issues: the concept, funding sources, marketinf strategy and financial estimation. This type of plan is best if you are considering testing a business idea, the degree of interest of potential partners and potential investors. It is also a very useful tool for finding out the exact idea your business focuses on. This type of plan can not replace the detailed plan, so before sending it to a prospective investor’s analysis, make sure that person does not expect to receive a more complex chain.
Work Plan (operational)
This type of plan is very commonly used in meeting management goals. It contains a multitude of operational details, it is written in semi-formal language and also serves to review operations and progress.
A business plan designed to serve internal purposes can not contain certain elements that would only be needed by someone outside the team.