This is an easily digestible, much shorter version of your normal business plan.
Typically, it will be between three and five pages.
You should include your executive summary, financials, and any information pertinent to the person/s to whom you are presenting the plan.
A shortened business plan is usually made with a specific purpose or recipient in mind, so it will be easy to figure out exactly what is and isn’t important enough to make the cut.
The reason many business owners first decide to put together a business plan is that they simply have to.
If you want to apply for a business loan, attract investors, or obtain any necessary licensing, business plans are a prerequisite.An operational business plan focuses on the company’s overarching goals, mission, and vision so that all department stay aligned.Your Marketing and Sales, Operational Plan, and Financial sections will be key here.Even if your business is in a casual industry, you want the business plan to remain formal.Most importantly, ensure that your business plan is easy to read by keeping everything concise and avoiding technical jargon that someone outside your industry might not understand.If other businesses, whether they’re in the same industry or not, have successfully implemented a comparable strategy, it adds credibility to your own proof of concept.An in-depth business plan will contain lots of useful information and will likely end up being much more than ten pages.As you put the business plan together, you’ll have the chance to really conceptualize and evaluate your strategy.You’ll build proof that your idea makes both financial and logistic sense.Are you planning to start a business or do you already own one?If the answer is yes, then you need a business plan.