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An externally targeted business plan should list all legal concerns and financial liabilities that might negatively affect investors.Depending on the amount of funds being raised and the audience to whom the plan is presented, failure to do this may have severe legal consequences.In its entirety, this document serves as a road map that provides direction to the business.
Typical structure for a business plan for a start up venture Cost and revenue estimates are central to any business plan for deciding the viability of the planned venture.
But costs are often underestimated and revenues overestimated resulting in later cost overruns, revenue shortfalls, and possibly non-viability.
This allows success of the plan to be measured using non-financial measures.
Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans.
An internal operational plan is a detailed plan describing planning details that are needed by management but may not be of interest to external stakeholders.
Such plans have a somewhat higher degree of candor and informality than the version targeted at external stakeholders and others.
Externally-focused plans draft goals that are important to outside stakeholders, particularly financial stakeholders.
These plans typically have detailed information about the organization or the team making effort to reach its goals.
It is called an elevator pitch as it is supposed to be content that can be explained to someone else quickly in an elevator.
The elevator pitch should be between 30 and 60 seconds.