What Is A Business Plan?
A business plan is simply any document that details how you plan to run and grow your business. It normally contains information about your company, your products and services, a marketing plan, and financial projections.
Business plans can serve many purposes. You can use it to help with your day-to-day operations. Many people use it to pitch to venture capitalists and banks for additional funding. More important than the actual document itself, however, is the actual process of writing it. Getting your ideas down on paper helps you evaluate your business strategy, check it for weaknesses, and refine your concept until it’s ready for launch.
The length and contents of your business plan largely depends on what you need it for. An investor-ready business plan will look different from a business plan that is for internal use only. Business plans can be anywhere from a single page to 30, 40, or even 100 pages depending on the complexity.