Traditional
A traditional business plan provides more of this over a lean business plan
What is detail
A formal document describing a business and explaining the need for financial support
What is a business plan
Why you would show a business plan to a bank/investor
What is to get a loan
Briefly describes what your business is and typically includes a mission statement
What is an Executive Summary
How often should a lean business plan be updated
What is monthly
The primary individuals the business plan will try to impress
Who are investors
What a business offers to customers in exchange for monetary gain
What is a product or service
What a business plan provides for internal management
What is a roadmap
A description of your target market and how you will entice them
What is a Market Analysis
How many pages a lean business plan would be
What is one page
a traditional business plan is said to have up to this many pages!
What is 50 pages
How a business goes about advertising and reaching out to customers
What is marketing
You may need to get a loan to open one of these. Customers will be able to walk in and look at your product here.
What is a brick and mortar store
A summary of strengths, weaknesses, opportunities and threats
What is a SWOT Analysis
This car manufacturer is credited with creating this plan.
What is Toyota
This covers the main concerns and the morals the business stands by
What are core values
The one who starts a business and takes on a financial risk to do so
Who is an entrepreneur
What a business plan looks into in order to keep a business running for years to come
What is future financing
A summary of the daily schedule and responsibilities of the business
What is Operations
The primary group this business plan is designed for. Not to find investors.
What is internal management
This is commonly included at the end of a business plan to provide statistics and supplementary material
What is an appendix
A type of business owned by a singular individual
What is a sole proprietorship
The expenses you will need to make in order to get the business up and running
What are start up costs
A description of what the business plans to make in profit for the following years/financial quarters
What is Financial Projections
The four steps to approaching a lean business plan. these create a circular flow that is constantly revolving.
What is Adjust, Plan, Do and Check