Most business plans will take one of the following shapes: Miniplan – As its name suggests, a miniplan isn’t a lengthy document.
It can be as short as two to 10 pages, as long as it covers your concept for the business, how you’ll finance and market it, and financial information such as operating expenses, cash flow, income projections and a balance sheet.
It’s a great way to lay out your concept or have basic information to show to potential partners or investors. A miniplan isn’t a substitute for a longer, full-length document.
If it’s for your own personal use, this might suffice.
A business plan will serve to get everyone on the same page as you move forward.
7) Accountability – Business plans have a fairly standardized set of components.
3) Commitment – Taking a look at expense projections, sales and revenue forecasts, and all the other dollars and cents aspects of your business will help keep you on track as you move forward, and serve as a built-in warning system if you’re not where you’re supposed to be.
4) Exploration – It’s easy to get so focused on the nuts and bolts of your business that you lose sight of the bigger picture.
Do they grasp the key issues involved with your business? Great employees will appreciate how you’ve taken the time to assess your place in the market — as will lenders and investors when you need to raise money. You understand the benefits of having a business plan and you’re committed to writing one. Some elements belong in each one, and we’ll explain each of those below, but your presentation might be completely different.
Most importantly, think about who the audience is and what the goals are for the plan.