Types of business plan formats
The plan must provide all company details to satisfy potential investors. Real management is steering your business with a Lean Plan that you review and revise regularlytracking progress and performance, and making regular course correction.
Types of business plan formats
Although there is a fairly well accepted structure for a business plan format, there are many ways of putting it down on paper. Also use this space to outline any plans you have to copyright or patent your intellectual property. If company growth requires investment, a growth plan may include complete descriptions of the company, its management and officers. You can use this startup plan to discuss your options with potential partners and associates. Some of the contents will have different names and be presented in a different order but almost any business plan will cover these broad areas: Business Plan Format Contents Table of Contents Your contents page should be the very last thing you write to ensure that all the page numbers are correct. Annual business plans are perfect for companies that expect to make big changes in the not-so-distant future. Remember, graphs and charts always help. Startup business plans are typically lean in order to help launch companies quickly and allow for easy changes as the company grows. The exact order of topics is not important, but most people expect to see all of these topics covered as part of the standard plan. Once you have an idea of your strategy, you must have a plan for implementing it.
This plan isn't made to tell investors how you intend on turning a profit in the span of five years. Tip Types of business plans include, but are not limited to, start-up, internal, strategic, feasibility, operations and growth plans.
6 types of business plan in management
An operations plan, specifies implementation markers and deadlines for the coming year. It can also be used to attract investors at the very beginning. Do they visit you once a year? An annual plan can also be an internal plan i. Funding Request: The dreaded funding request is the part that makes every business owner squirm when he is presenting to investors. Organization and Management: Describe the legal structure of your business. Obviously, you want to be financially successful, but how fast do you think your business can grow? Do customers need to come back every two months? That is to say, a more elaborate plan isn't guaranteed to be superior to an abbreviated one. These types of plans typically skip the more detailed financial data and milestones those are of more interest to investors than they are to your team because your team pretty much already knows when they do a good job. Of course, cash flow figures prominently here as well. While the structure of a strategic plan differs from company to company, most include five elements: business vision, mission statement, definition of critical success factors, strategies for achieving objectives and an implementation schedule. But in 20 minutes, you can cover all the key points and tell your story from concept and mission statement through financial forecasts. Product or service tactics also apply here, including pricing, launch dates, bundles, configuration, new versions, and delivery or packaging.
Product or service tactics also apply here, including pricing, launch dates, bundles, configuration, new versions, and delivery or packaging. What to Include in Your Business Plan Before you physically start writing your business plan, you need to spend some time doing in-depth research into your industry and market.
Perhaps you want to mull over the chances of a major expansion. An annual plan can also be an internal plan i. This document typically includes sections describing the company, the product or service your business will supply, market evaluations and your projected management team.
References 2. And that is essentially the function of a business plan. You can monitor each of these areas using basic excel spreadsheets, but a business dashboard that quickly and easily shows you the difference between your forecast and your actuals can save you time.
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