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What’s the Right Business Plan for You?

Business Plans doesn’t fit under the “one-size-fits-all” category. Gone are the days of writing 50-100 page documentation. Business Plans guide owners, stockholders and managers through the stages of development. A business plan is a road map that guides you through the planning process. As such, it becomes important to consider that for what exactly you’ll be using the plan for.

The current stage of your business can help you determine what type of business plan would work best for you. Ask your business plan writer to determine and prepare a plan accordingly.

Start-up Plan

This business plan is for those who are just newbies. It can be considered as a comprehensive, traditional business plan that covers all topics relevant to new scheme creation, such as company information, markets, forecasts, strategy, management team and financial analysis. It requires segments describing the company, its product or service, market assessments and the projected management team.

Startup business plan

Internal Plan

This type of plan is used internally and not for external associates. As such, you need to indulge the management team and detailed company analysis. However, you should cover where the company intends to go and how, without giving all the background details and company overview.

Operational Plan

Operational Plan is considered as an internal plan that consists of information related to company’s internal operation. It should include milestones, deadlines and responsibilities of managers or teams.

Strategic Plan

A strategic plan emphasizes high-level opportunities and setting priorities for the organization, rather than particular responsibilities of the team. These plans are in- depth description of the company’s proposed growth.

Growth/expansion Plan

This type of plan may focus on a subset of the business. This plan should include comprehensive forecasts of sales and expenses for the new ventures.

Feasibility Plan

When considering a new start-up, this type of plan is used to evaluate the idea. It also helps determine whether it’s worth pursuing. The plan should include a summary, missions, elements of success, overview of market analysis and an analysis of pricing, and probable expenses.

So, which one among these is your business type?