If you don’t have a specific immediate need to show a formal business plan to a banker or investor, then you are probably better off doing just a lean business plan, for your internal use only. To make the best impression on banks and investors, your business plan outline should be presented in the standard business plan format.
Developing your business plan helps you to step back and look at what is working in your business and what you can improve on. If you have employees, the planning process can be a good opportunity to seek their feedback on possible ideas and improvements. Your employees will value this opportunity to contribute to the business.
A business plan is not a document you create once and store in your bottom drawer. It is a living guide that you should develop as your business grows and changes. Successful businesses review and update their business plan when circumstances change.
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.
business plan letters
business plan definition
business plan samples