Plans differ widely in their length, their appearance, the detail of their contents, and the varying emphases they place on different aspects of the business.
The reason that plan selection is so important is that it has a powerful effect on the overall impact of your plan.
Not all business plans are written by starry-eyed entrepreneurs.Many are written by and for companies that are long past the startup stage.If you're just going to use your plan for internal purposes to manage an ongoing business, a much more abbreviated version should be fine.About the only person who doesn't need a business plan is one who's not going into business.However, it's a mistake to think that only cash-starved startups need business plans.
Business owners find plans useful at all stages of their companies' existence, whether they're seeking financing or trying to figure out how to invest a surplus.
You don't need a plan to start a hobby or to moonlight from your regular job.
But anybody beginning or extending a venture that will consume significant resources of money, energy or time, and that is expected to return a profit, should take the time to draft some kind of plan.
It helped make the new venture a winner long before the big day arrived.
"As a result of the retail support up front," Walker says, "we had over 45 licensees running the gamut of product lines almost from the beginning."These middle-stage enterprises may draft plans to help them find funding for growth just as the startups do, although the amounts they seek may be larger and the investors more willing.
Plan an Updating Checklist Here are seven reasons to think about updating your business plan.