Tailor Your Business Plan to Your Audience
(Entrepreneur) — Form follows function. What’s really necessary in a business plan is what it takes to manage your business better. That means that a lot depends on what you’re doing with your plan. Consider these possibilities:
1. If your plan is just to manage your business better, not to show to outsiders, then there’s no need for carefully edited or formatted descriptions of your business or products or management team, or, for that matter, those executive summaries. Instead, you just stick to the core: your strategy, your review schedule, your assumptions, your specific tasks, assignments, and milestones, and basic projections including sales, cost of sales, expenses, and profit and loss. Then the key to success is to understand you’re going to want to review the plan monthly, check for plan vs. actual results, and make course corrections.