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Different kinds of business plans



 There are four kinds of business plans. Miniplans are plans that are brief. There are also working designs, presentations plans, and even electronic plans. They need different amounts of effort and may not always produce the identical outcomes. Based on the purpose you've chosen to use the program for, a more elaborate plan will not always surpass a shorter one.



 The Miniplan. The Miniplan. A miniplan could vary from one to ten pages long and should be able to address the most important issues, like the business's concept and financing requirements, marketing plan, financial statements and income projection, cash flow, and balance sheet. It's a great way to quickly test a business concept or measure the enthusiasm of a potential partner or minor investor. It can also serve as an excellent prelude to a full-length plan in the future.


 Be careful about misusing a miniplan. Miniplans are not intended to replace a complete plan. It's a bad idea to send a miniplan out to investors who are looking for an entire plan.



 The Work Plan. The working plan is a device that you can use to improve the operation of your business. It should be lengthy in detail, but it can be a bit sluggish in presentation. It is possible to be more candid and informal when creating a working plan, as you can with a mini-plan.


 Some elements may not be required in a plan that is intended for internal use. An appendix to resumes, such as one with key executives' resumes is not necessary. Additionally, photos of products aren't a good idea to include in a work program.



 A working plan can be very different in fit and finish. It's not essential that the working plan is printed on top-quality paper and enclosed in a fancy binder. An old three-ring binder with "Plan" scrawled across it with the help of a felt-tip marker can work quite well.



 Work plans that are targeted at outsiders require the same level of internal consistency of facts and figures. While you should be careful about spelling errors and consistency with dates, and adhering to the business format, it is not required to be as precise. This document is like an old pair or khakis to wear to work on Saturdays. It's similar to an old delivery truck that never seems to be worn-out. It's intended to be used, not for admiration.



 The presentation plan. The presentation plan can be created by taking a work plan and adding an additional knob to increase the attention given to its design. The plan can be used to show the plan to investors, bankers and other outsiders.


 While your presentation might have a different design, almost all details will be exactly identical to that of your work plan. The working plan shouldn't include informal jargon or slang. Instead, stick to words of business. Be aware that the readers will not know your business. This strategy isn't intended to serve as a reminder, but rather to be used as an introduction.

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 Other elements are also required. Information about threats to competition and risk is one of the most crucial elements that investors need to do their due diligence. Even if just some of them are important and important, it is vital that you address these concerns by providing the pertinent information.



 The difference between presentation and working plans is in the way they appear and feel. A working plan may be run off on the office printer, and then stapled at one corner. A printer of high-end quality will print a plan for presentation, possibly using colors. The book should be professionally bound to make a sturdy, easy-to-read book. It must include illustrations and tables, graphs and charts.



 It's essential that a presentation plan be accurate and internally consistent. An unsympathetic outsider might think that this is a false representation. At worst, it will make your work appear less than perfect. You might be tempted to say "Oops!" if the summary of the plan states that $40,000 is needed for financing but the cash flow projection indicates that $50,000 is available in the first year. We forgot to update the summary to reflect the updated numbers. However, it is highly likely that the person you're asking for cash will be as generous.

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 The Electronic Plan. The electronic plan is the most popular kind of business plan. But more and more business information that once was transferred between parties only on paper is now transmitted electronically. It may be suitable to create an electronically transferable version of your business plan. Electronic plans is useful in the event that you have to present your plan to an audience using a computer-controlled overhead projector or satisfy the requirements of an investor looking to understand the underlying mathematics of complex spreadsheets.