A business plan, by definition, is a piece of document that provides details on how a company should function. For some, a single sentence detailing an objective of the startup can be considered as a business plan. This, however, is not the type of plan that a business owner would want to present to a potential investor. So what makes a winning business plan that could assure financial support from potential investors?
To answer this, we must first enumerate and define different types of business plans that an owner can use for different purposes.
1. Mini-Plan
A mini-plan is a short document that is used to test a business concept or pique the interest of a potential investor or partner. It usually runs from one to ten pages, depending on the type of the business, and contains all key elements and aspects of the company.
A mini-plan is not intended to be a substitute for a full plan. Instead, it can serve as an outline or introduction to a full-length plan that will be produced later on. This plan is definitely not the type of document that you would want to send to a potential investor.
2. Working Plan
If you are a business owner who want to increase the productivity of your company, then you might want to consider writing a working plan that could complement a well-written mini-plan.
Unlike the mini-plan that is limited to all the key aspects and elements of the company, a working plan is mainly focused on the details of the operations of the company. Because it is not intended to be presented to external parties such as potential investors and partners, working plans are usually blunt and do not focus on “presenting” the company.
3. Presentation Plan
The first two plans are not meant to be presented to potential investors. The reason for this is that mini-plans lack the details while working plans do not have the focus on aesthetics.
Therefore, to produce a winning business plan, owners must pay attention to the details while at the same time make it more presentable to bankers, investors, and other external parties.
More detailed information and useful advice can be found at Funded.com Created by Mark Favre, it offers expertise and assistance with developing and funding your concept, including a private forum for queries and discussions. If you need access to investors and funding providers, please do check our website. Funded.com
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