Business Plan

A business plan defines a company's goals and objectives and the strategies and tactics for achieving them. Both startups and established companies use business plans. For example, a startup company may use a business plan to attract investment before establishing a proven track record. In contrast, an established business may use a business plan for organizational alignment, a powerful way to create collaborative objectives, maximize employees' skills, motivate leadership and promote positive company culture. 

Organizational Plan

The organizational plan is one of the core elements of the business plan because it contains the company's vision, mission, and values which influence a company's competitive place in the market. The organizational stage of the business plan is where you research the company's marketability and how likely it is to get sponsored or funded. In addition, it serves to help you realistically determine how viable your business is to grow and identifies how long that positive development might take before you see net income values.

Financial Plan

Money is the framework for a startup's ability to grow and develop into a financially healthy business. The financial plan requires excellent preparation, attention to detail, and foresight to determine details like projected assets, liabilities, income, expenses, and many other economic factors. A startup has to accurately identify these factors to assess how to get funding, how much they need, and where they need to spend it. The financial plan greatly influences the company's success because it affects nearly every operation and aspect.

Sales and Marketing Plan

The marketing plan, sometimes called the sales plan, includes all the aspects of marketing and sales, like establishing the brand and forecasting sales. In this plan, the company needs to summarize its brand marketing initiatives and market share projections they want to accomplish. A successful plan marketing or sales plan is actionable, realistic, and serves to create an initial customer base.