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They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing of a factory or a restructuring of the organization.An internally-focused business plan is often developed in conjunction with a balanced scorecard or a list of critical success factors.During the dot-com bubble 1997-2001 this was a problem for many technology start-ups.
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.
A pitch deck is a slide show and oral presentation that is meant to trigger discussion and interest potential investors in reading the written presentation.
The content of the presentation is usually limited to the executive summary and a few key graphs showing financial trends and key decision making benchmarks.
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 is a formal written document containing business goals, the methods on how these goals can be attained, and the time frame within which these goals need to be achieved.It also describes the nature of the business, background information on the organization, the organization's financial projections, and the strategies it intends to implement to achieve the stated targets.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.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.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.Banks are quite concerned about defaults, so a business plan for a bank loan will build a convincing case for the organization's ability to repay the loan.Venture capitalists are primarily concerned about initial investment, feasibility, and exit valuation.