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There are also 2 types of business plans based on the level of comprehensiveness.
If you are seeking outside funding or are looking to grow your business to the next level, it is also time to create a business plan.
There are several types of business plans, but they are all similar.
A business plan for strategy focuses on ensuring you have the right strategy (marketing strategy, operations strategy, HR strategy, etc.) to grow a successful company.
When you add the need for funding to this, you must also spend time convincing funding sources why your company will succeed.
There are startup business plans for companies that are just forming, and there are established business plans for those who are already operating.
In addition, there are 2 business plan types based on the company’s size.When you are conceiving a new business or new product or service, you should at least create a basic business plan (see our simple business plan template below).This business plan should cover the basics of your plan.For instance, it should include the reasons you think the business, product or service will be successful.It should prove that the market is big enough to support your business.Importantly, the written sections of your business plan support your financial projections.For instance, the Industry Analysis section must prove that your market size is large enough to support your success.Finally, there are hundreds of business plan types based on the sector in which the business is operating.For instance, there are restaurant business plans, nonprofit business plans, coffee shop business plans, Consulting business plans, food truck business plans, real estate business plans, and more.On the other hand, a full or standard business plan includes all of the key 10 business planning sections.There are also 2 types of business plans based on the company’s stage of growth.