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How Long Should a Business Plan Be? by Fran McCully
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How Long Should a Business Plan Be? |
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Business,Finance & Investment
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A business plan can be any length, from a scrawl on the back of an envelope to a detailed plan describing a complex enterprise, more than 75 pages. A typical business plan runs 15-20 pages, with a wide variation. The nature of your business will play an important role in the length and content of the plan. If you have a simple concept, you may be able to express it in very few words. If you are proposing a new kind of business or even a new industry, it may require a bit of explanation to get the message across. The purpose of your plan also determines its length. If you want to use your plan to seek millions of dollars in seed capital to start a risky venture, you may have to do a lot of explaining or convincing. If your plan is to be used for internal purposes to manage an ongoing business, a much more abbreviated version should be fine. Most books on business planning are aimed at startup business owners. These individuals seem to be the least experienced of the potential plan writers, they're probably most appreciative of the guidance. Business owners find plans useful at all stages of development, whether they're seeking financing or trying to figure out how to invest a surplus. Some business owners feel the need for a written plan to help manage an already rapidly growing business. Some use a plan as a means to understand the marketing concept to use for a particular industry. Or a plan may be seen as a valuable tool to explain the mission to prospects of the business to customers and suppliers.
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