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Make it clear and concise; include only the most important elements, keeping it at a maximum of half a page. To create the summary go back over your plan, pick three or four key messages and write a brief overview, then conclude with details of the action you want the reader to take.

At its core, a business plan helps you prove to yourself and others whether or not your business idea is worth pursuing. It’s the best way to take a step back, look at your idea holistically, and solve for issues years down the road before you start getting into the weeds.

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.

Business planning is an ongoing business activity. As your business changes many of the strategies in your plan will need to evolve to ensure you business is still heading in the right direction. Having your plan up to date can keep you focussed on where you are heading and ensure you are ready when you need it again.

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