Business Plans
A formal business plan offers a formal business goal, the plan for obtaining the goal and background and reasons why the goal is possible. Business plans can be written for internal or external audiences. A business plan or strategic plan for an internal audience usually covers a new product or new service, a restructuring of the organization or … Keep Reading → financing details. Within this strategic plan are included criteria for measuring success often via a scorecard and set of milestones, operational plans and specific project plans. Externally focused business plans target concerns of financial stakeholders and investors and include considerable detail about the team members charged with attaining the goals. Business plans are often presented to investor groups in short, roughly three-minute “elevator pitches” summaries. To accompany these short teasers, an attractively formatted and fully detailed written plan is available for scrutiny. Learn more about creating the winning business plan in this Hub.
