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In fact, very few companies are able to last without one.There are definitely more benefits to creating and sticking to a business plan including being able to think through ideas without putting too much money into them—and, ultimately, losing in the end.Financial statements, balance sheets, and other financial information may be included for already-established businesses.
Usually, banks and venture capital firms make a viable business plan a prerequisite to the investment of funds in a business.
Even though it may work, operating without a business plan is not a good idea.
Any information about research and development (R&D) can also be included here.
Financial planning: In order to attract the party reading the business plan, the company should include any financial planning and/or projections.
According to the Small Business Administration, the traditional business plan is the most common.
They are standard, with much more detail in each section.
For example, Tesla Motors.'s electric car business essentially began only as a business plan.
A business plan is not meant to be a static document.
These tend to be much longer and require a lot more work.
Lean startup business plans, on the other hand, use a standard structure even though they aren't as common in the business world.