Interperation of Business Plans 6. Legal and Liability Issues Since business plans potentially touch on virtually every area of business training, research, and analysis, I would further recommend that this article be treated as a summary article. It is likely that a potential entreprenuer or SME manager coming to this page for help will be using it as a gateway to other kinds of business knowledge. I would be happy do work on this, but since this article appears to have some active editors
Audience[ edit ] Business plans may be internally or externally focused. Externally focused plans target goals that are important to external stakeholders, particularly financial stakeholders. They typically have detailed information about the organization or team attempting to reach the goals.
With for-profit entities, external stakeholders include investors and customers. Internally focused business plans target intermediate goals required to reach the external goals. They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing of a factory or a restructuring of the organization.
An internal business plan is often developed in conjunction with a balanced scorecard or a list of critical success factors. This allows success of the plan to be measured using non-financial measures.
Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans. Operational plans describe the goals of an internal organization, working group or department. The content and format of the business plan is determined by the goals and audience.
Venture capitalists are primarily concerned about initial investment, feasibility, and exit valuation. A business plan for a project requiring equity financing will need to explain why current resources, upcoming growth opportunities, and sustainable competitive advantage will lead to a high exit valuation.
Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. August Learn how and when to remove this template message The format of a business plan depends on its presentation context. It is common for businesses, especially start-ups, to have three or four formats for the same business plan.
This is often used as a teaser to awaken the interest of potential investors, customers, or strategic partners. It is called an elevator pitch as it is supposed to be content that can be explained to someone else quickly in an elevator.
The elevator pitch should be between 30 and 60 seconds. The content of the presentation is usually limited to the executive summary and a few key graphs showing financial trends and key decision making benchmarks.
If a new product is being proposed and time permits, a demonstration of the product may be included. An internal operational plan is a detailed plan describing planning details that are needed by management but may not be of interest to external stakeholders.
Such plans have a somewhat higher degree of candor and informality than the version targeted at external stakeholders and others. Typical structure for a business plan for a start up venture  cover page and table of contents.Feb 21, · As with most things in the business world, the size and scope of your business plan depend on your specific goals.
If you’re drafting it for investors, you should make the plan more detailed.
A crucial part of the business plan, the summary will basically tell readers the history of your company, where it is today and what direction it is headed; this is where you sell other on the potential success of your business idea. The 5 Parts of Every Business are the basis of every good business idea and business plan.
If you can clearly define each of these five processes for any business, you’ll have a . Jun 27, · 3 Grow an Automotive Parts Business 4 Improve Auto Parts Sales You can grow a spare parts business by running short-term promotions to boost sales or investing in the service you offer.
A business plan can take many forms depending on your business type. It describes products and many other details, but most plans will include these components. A business name structure does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for all debts incurred by the business.
If the business acquires debts, the creditors can go after the owner's personal possessions.