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Project Plan is a shorter format of a small business plan aim at implementation of various or specific business objects such as completion of work ,earning super profits, expansions, mergers etc. Project plan being a specific plan aims to achieve specific object.
This is especially true for those considering funding that involves commercial real estate or a SBA loan.
This is a brief 1-3 page document that sums up your business and plan, and gives viewers enough info to decide whether they want to see any more data or not.
They build the plan anticipating using it as a tool for supporting their requests for investment capital or loans to start the business.
And, once the company is operating, the business plan becomes a living document, which management reviews and revises at least quarterly.
Like a pitch deck, it it’s good enough it can be sufficient to get lenders and investors to choose to work with you, and work through the details in the process.
The big problem with business plans is that entrepreneurs often get bogged down in them.You should have a plan in order to get yourself organized, to ensure you have some type of viable commercial potential, you have focus and hopefully aren’t going to run out of money or starve before you get going.If that’s all you need, and you don’t plan to raise money, apply for loans and don’t intend on bringing in partners, then you certainly don’t need a 25lb manuscript. In fact, Brian Chesky (found of Airbnb) is famous for his one-page business plan for global domination.For companies in private industry, the heart of the business plan is a business model and business strategywhich describe how and where the company expects to make and spend money.All other parts of the business plan stem from the model.The other is more organizational an internal in nature.If you want to get funded by David Mc Clure, then he says he wants to see “a functional product that people are using.If you are planning to go to a local bank for a business loan, or are approaching your sphere of influence for backing who you know is accustomed to seeing legit business plans, then you know you probably need to create something that they understand in a format they are comfortable with.Business plans and pitch decks are two different things. Yet, one is for presenting and specifically for getting funding from angels and VCs.”An executive summary is a different document again.It is a smart tool and essential one to have as a cover for your business plan.