Types of Business Plans- As businesses start up and grow through stages of success a business plan works as a guide to help the owner, management, and investors. Types of business plans include start-up, internal, strategic, feasibility, operations, and growth plans. To learn more about business plans read our detailed article, Business Plans – Your Business Identity.
Types of Business Plans: Start-Up Business Plans
Come up with detailed steps to start a new business for a start-up business plan. This type of business plan will include a description of the company, the product/service that the business intends to supply, market evaluations, and the projected management team. A financial analysis should describe key financial numbers.
Types of Business Plans:Internal Business Plans
The internal business plan targets the audience within the business. This type of business plan will include an internal business plan in order to evaluate a proposed project. The company’s current state should be described which should include the operational costs and profitability. It should be ascertained how the business will repay any capital for the project if needed information about project marketing, hiring, and tech costs need to be provided. A market analysis should be done that includes target demographics, market size and the market’s positive effect on the company income.
Types of Business Plans:Strategic Business Plans
In the strategic business plan, the company provides detailed goals and how they will achieve them along with a foundational plan for the entire company. The five elements of a strategic business plan are a business vision, mission statement, critical success factors, strategies to achieve objectives, and an implementation schedule.
Types of Business Plans:Feasibility Business Plans
The feasibility plan determines who will purchase the product/service a company wants to offer and if the venture can turn into profit. This type of business plan includes descriptions on the need for the product/service, target demographics and required capital. Lastly, recommendations are made to move forward.
Types of Business Plans:Operations Business Plans
Operations plan are the internal plans that include elements related to company operations and it outlines the responsibilities of an employee. In an operations plan implementation markets and deadlines for the upcoming years are specified.
Types of Business Plans:Growth Business Plan
Growth plans are made up for internal or external purposes. They are detailed descriptions of proposed growth. The growth plan includes all the company details which are needed to satisfy potential investors such as complete company description, its management, and officers.
