This article explores reasons why we write business plans, types of business plans and what to
include in a business plan. Read on………………………………………………………………
A business plan is a guide, a roadmap for your business that outlines goals and details how you plan to
achieve those goals. It is a 30-40 pages long description of how you want to build your company. In
the business plan you want to explain what customers you want to target via which marketing
channels, what makes you different from competitors, who the management team is, how you are
going to make a profit, and what the milestones are for achieving your business plan.
Types of Business Plans
a) One page business plan
A one-page business plan is not exactly what it sounds like: it means that the business is described
in very concise language that is direct and to-the-point.
A one-page business plan can serve two purposes;
First, it can be a great tool to introduce the business to outsiders, such as potential investors.
Since investors have very little time to read detailed business plans, a simple one-page plan
is often a better approach to get that first meeting. Later in the process, a more detailed plan
will be needed, but the one-page plan is great for getting in the door.
This simple plan format is also good for early-stage companies that just want to sketch out
their idea in broad strokes. Keeping the business idea on one page makes it easy to see the
entire concept at a glance and quickly refine concepts as new ideas come up
b) The Internal business plan
The internal business plan dispenses with the formalities that are needed when presenting a plan
externally and focuses almost exclusively on business strategy, milestones, metrics, budgets, and
forecasts. And of course it also includes the review schedule for monthly review and revision.
Internal business plans are management tools used to guide the growth of both startups and existing
businesses. They help business owners think through strategic decisions and measure progress