Types of Business Plans
- Very Short Plans
- Mini-Plans
- Presentation Plans
- What-If Plans
Business plans can be divided into four types, each requiring different amounts of information and providing different results.
- Mini-plans are succinct and accessible, especially on phones or tablets, answering key questions about simple business ventures.
- Presentation plans convey information through summarizing decks.
- What-if plans outline contingencies and scenarios, preparing businesses for multiple futures.
- Working plans offer in-depth practical guidance on operations, objectives, and strategies.
Essential Elements of a Business Plan
- Executive Summaries
- Marketing Plans
- Key Management Biographies
- Financial Plans
Business plans include these four critical elements and additional sections for specific audiences.
- Executive summaries concisely outline proposals, highlighting key elements. Prior entrepreneurial experience helps convey business rationales.
- Marketing plans describe target customers, value propositions, and methods to reach and sell offerings.
- Key management biographies showcase leadership skills and experiences to build confidence.
- Financial plans project expenses, revenues, and funding needs, enabling the assessment of business viability over time with historical finances and future projections.
Types of Planning
- Very Short
- Mini
- Presentation
- What-If
The four types of planning provide different levels of detail and preparation for business ventures.