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And your Marketing Plan section must show that you’ll be employing promotional tactics that allow you to attract customers at a reasonable cost.: In particular, the Operations Plan section of your business plan lays out your action plan.
There are startup business plans for companies that are just forming, and there are established business plans for those who are already operating.
In addition, there are 2 business plan types based on the company’s size.
I wrote this guide because — even in 2019 — much of the online advice on business planning is misleading or flat-out wrong.
I can’t blame bloggers for it, because many of the facts herein are not widely known.
On the other hand, a full or standard business plan includes all of the key 10 business planning sections.
There are also 2 types of business plans based on the company’s stage of growth.
When you are conceiving a new business or new product or service, you should at least create a basic business plan (see our simple business plan template below).
This business plan should cover the basics of your plan.
Importantly, each of these business plans are essentially the same: the must prove the financial viability of the business and provide a roadmap for success.
A business plan template is a document that is already formatted for your business plan needs.