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With for-profit entities, external stakeholders include investors and customers, for government agencies, external stakeholders are the tax-payers, higher-level government agencies, and international lending bodies such as the International Monetary Fund, the World Bank, various economic agencies of the United Nations, and development banks.Internally-focused business plans target intermediate goals required to reach the external goals.
In its entirety, this document serves as a road map that provides direction to the business.
Business plans may be internally or externally focused.
An "elevator pitch" is a short summary of the plan's executive summary.
This is often used as a teaser to awaken the interest of potential investors, customers, or strategic partners.
A business plan for a project requiring equity financing will need to explain why current resources, upcoming growth opportunities, and sustainable competitive advantage will lead to a high exit valuation.
Preparing a business plan draws on a wide range of knowledge from many different business disciplines: finance, human resource management, intellectual property management, supply chain management, operations management, and marketing, among others. a good business plan can help to make a good business credible, understandable, and attractive to someone who is unfamiliar with 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.
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.