There are also 2 types of business plans based on the level of comprehensiveness.
This business plan template and guide is the result of 20 years of research into the types of business plans that help entrepreneurs and executives raise funding and build thriving companies.
It’s primarily for those who have never created a business plan, but there’s plenty of advice for those who have written one or many plans before.
If you are seeking outside funding or are looking to grow your business to the next level, it is also time to create a business plan.
There are several types of business plans, but they are all similar.
I wrote this guide because — even in 2019 — much of the online advice on business planning is misleading or flat-out wrong.
I can’t blame bloggers for it, because many of the facts herein are not widely known.For example, there are 3 types of business plans depending on the goal of your plan.These three types are for funding, for strategy, and for both.There are startup business plans for companies that are just forming, and there are established business plans for those who are already operating.In addition, there are 2 business plan types based on the company’s size.Importantly, the written sections of your business plan support your financial projections.For instance, the Industry Analysis section must prove that your market size is large enough to support your success.A business plan is important in that it serves two core purposes; it provides 1) financial validation and 2) serves as a roadmap.: With regards to financial validation, your business plan gives a strong indication, to both you and outside funding sources, as to whether your venture will be financially successful.Your financial projections, if completed properly (more on this below), allow financing sources to calculate whether you’ll be able to repay your loan or provide an appropriate Return on Investment.I say this not to brag, but to assure you that much information online about business plans is false.Below you will find correct answers to the most common business plan questions.