By Kimberly P. Albright on June 07 2018 19:44:47
Even though the summary will be read first, it is easiest to write it last – providing an overview of the complete business plan. The aim is to draw the reader in, so what you include will depend on your audience. If you are seeking funding you need to really sell your business idea in the summary.
Size your business plan to fit your business. Remember that your business plan should be only as big as what you need to run your business.
Don’t make common mistakes. I’ve seen thousands of business plans, good and bad, and I can tell you that avoiding these common business planning errors will put you far ahead of the curve.
Internally focused business plans target intermediate goals required to reach the external goals. They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing of a factory or a restructuring of the organization. An internal business plan is often developed in conjunction with a balanced scorecard or a list of critical success factors. This allows success of the plan to be measured using non-financial measures. Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans.
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