When writing a business plan, there are no single fit for all, with the goal of accurately conveying relevant content about your company to readers. Writing a business plan can span from one page to multiple pages and can include high detail graphs and reports.
Here are 3 business plan formats you can use:
- Traditional
A standard business plan is a compilation of the characteristics and expectations of a company. This section goes into detail on each aspect, while also mentioning the types of investors you might seek.
The standards for a business plan include the following: idea, objectives, market research, description of the product or service, strategy and goals, management, finances and this is followed by competition and expansion.
- Lean
A lean business plan is a shorter version of a traditional business plan. It allows entrepreneurs to present all their project goals, strategies, and projections in a shortened format. Importantly, this type of plan isn’t complete without metrics and objectives to track the company’s progress on specific targets.
- Non- Profit
A nonprofit business plan includes all of the elements that would be present in a traditional business plan, with an additional section describing the impact of the company. A popular request from donors is for this type of plan.
If you are a nonprofit business with plans to operate for public or social benefit, you will need a plan.The plan covers everything you find in a traditional business plan and contains information about what type of impact the company hopes to make. For example, if the company is a speaker and headphone brand that aims to help people with hearing disabilities, then they need to give their donors details of this.
