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There are small business plans that generally cover companies up to 50 employees.Medium and large company business plans are usually for companies with 51-250 employees and 250 employees respectively.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).
Importantly, the written sections of your business plan support your financial projections.
For instance, the Industry Analysis section must prove that your market size is large enough to support your success.
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.
The roadmap gives you and your team a clear path to follow.
It keeps you focused and improves your odds of reaching the goals you’ve set.
There are also 2 types of business plans based on the level of comprehensiveness.
One is a simple business plan, as previously mentioned, that covers just the basic items to give a preliminary assessment regarding whether or not the company is viable.
For instance, it should include the reasons you think the business, product or service will be successful.
It should prove that the market is big enough to support your business.