Your business plan is vital to outline everything you will
do and how you will do it.
The format for your business plan is important to consider. There tend to be four categories of business plans: strategic, traditional, lean startup, and feasibility. Choose your format according to what best suits your type of company.
Strategic Business Plan Format
The strategic business plan format focuses more on higher-level goals rather than detailed methods. It plans how to achieve your goals and is a great asset for communicating the big picture to others.
Traditional Business Plan Format
This is a comprehensive business plan, covering all the steps, which is good for detail-oriented people. This plan is very useful if you are thinking of asking for funding.
Lean Startup Format
This format provides a visual picture of facts about your business in the form of charts that cover the main information about your company, including finances, customers, and structure.
Feasibility Business Plan Format
This business plan seeks to answer whether the company can make a profit and who is going to buy what the company has to offer.
No matter what type of company, all business plans should cover the following elements:
Executive summary - a quick
outline of your company
Company description - details
what your company does
Market analysis - where you will
use your market research, including some graphs from your quantitative research
Organization and management - the
structure of your business
Service or product - what you
offer
Marketing and sales - your market
and sales strategy
Funding request - how much money
you require to conduct your business
Financial projections - detail
the current state of finances and add financial projections
Appendix - this is optional to
add anything referenced earlier in the plan such as permits, data, or research
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