Business plans are roadmaps that assist CEOs, investors, managers, and other team members to understand the daily functions of a company while measuring the growth and success rate through each step. It also gives you an insight into the market competition.
A consulting business plan is mostly written by a business owner [or prospective business owner]. Their major goal is to provide clarifications about each aspect of the business while simultaneously describing the objectives of the company. They also focus on projecting the elements that are important for the company’s growth and prosperity.
Besides the alignment of the company’s targets and goals, a business plan is also drafted to guide the management team and to promote investment capital.
If you want to write a great business plan that lands you as a successful investor or business partner, you need to understand the basics. In this post, I will give you a brief overview of the different consulting business plans that are both trendy and influential.
Let’s take a look!
Three Major Types of Business Plans
Business plans increase the chances and rate of your growth. The plans can be short, mini, decks, and even in the form of presentations. Sometimes the plans are like a rough sketch of the idea showing the possibility of a business that can be hit.
That said, there are four major types of business plans, but not limited to:
Start-Up Business Plan
Just the name reads a startup business plan is for a business that hasn’t started yet.
It means that the consulting business plan should include sections that describe the company and the idea to the core.
It also includes details of the product or services the company is providing. Not to mention, a startup business plan also describes the area your company will target, the niche your company will serve, and the people your potential company will cater to.
The main aim of the startup plan is to get the investors or business partners on board and convince them to invest in your idea. If you want your startup business plan to become a hit, it is best to include market evaluations and competition – also mention how you’re planning to outdo them.
Internal Business Plan
Internal business plans are entirely different from startup business plans since they target a specific audience in the business. For instance, the sales team needs to analyze a proposed project. An internal business plan describes the current state of the company.
It also includes operational costs of the business [or department] and profitability.
If you want to write an internal business plan that inspires and stands out, you need to add the following things:
- How the business plans to repay the investment
- Information about department costs
- Expense account of hiring
- Technical costs of the department
Strategic Business Plan
Unlike internal and startup business plans, a strategic business plan boasts a top-notch view of the organization’s goals and the strategies to achieve them. If you want to draft an excellent strategic business plan, you need to layout a foundational plan for every operation in the company.
Besides purpose, the structure of strategic plans is also unique and different. It usually comprises five characteristics including:
- Company’s vision
- Mission statement
- Success factors
- Plans for achieving new objectives
- Implementation plan
Why a Business Plan Matters?
The best part of writing a business plan is that they are entirely different from presentations. Although business plans don’t describe the day-to-day operations of a business, they are essential for grabbing the attention of your prospective partners and measuring the success rate of your business. When you focus more on possibilities rather than probabilities, you can write an influential plan in no time.