By On Sep 15, 2018 Business Plan
Business plans can help perform a number of tasks for those who write and read them. They are used by investment-seeking entrepreneurs to convey their vision to potential investors. They may also be used by firms that are trying to attract key employees, prospect for new business, deal with suppliers or simply to understand how to manage their companies better.
The purpose of your plan also determines its length. If you want to use your plan to seek millions of dollars in seed capital to start a risky venture, you may have to do a lot of explaining and convincing. If you are just going to use your plan for internal purposes to manage an ongoing business, a much more abbreviated version should be fine.
A plan intended strictly for internal use may also omit some elements that would be important in one aimed at someone outside the firm. You probably do not need to include an appendix with resumes of key executives, for example. Nor would a working plan especially benefit from, say, product photos.
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