Community Business News - Page twenty-two

What are the three types of business plans?

A business plan is a roadmap for a business's future. It outlines goals, strategies, marketing and financial forecasts. There are three common types of business plans: a traditional or Lean Plan, an internal plan, and a pitch deck. A traditional or Lean Plan typically contains a description of the business, its goals, its financial position, the strategies it will use to achieve those goals, and how it will measure success. An internal plan is more focused on the financial forecasts. It is used to track progress against budget and performance goals. A pitch deck is a short, persuasive presentation used to convince potential investors or lenders to invest in the business. Keywords: business plan, traditional plan, Lean Plan, internal plan, pitch deck.