| Believe it or not, in the relatively modest universe of | | | | your suppliers and strategic partners probably do not |
| business planning, one of the most frequently searched | | | | need to have a great deal of detail about your |
| keywords in this market is the term "small business | | | | products, target market or competition. There is a |
| plan." So what is going through the mind of the people | | | | good chance that they already have intimate |
| who search for this phrase? Is it: | | | | knowledge of these matters. You can bet, however, |
| - "I want to know about plans for a small business" or | | | | that these parties will be very interested in your |
| - "I want to know about small business plans for my | | | | Marketing and Sales section and in particular, the size |
| company" Since the size (or length) of the plan | | | | and use of your marketing budget. |
| prepared by companies, both large and small, is usually | | | | There also are occasions when you may not wish to |
| determined by factors other than the size of the | | | | share sections of a full-length plan with another group |
| venture, we thought it might be interesting to comment | | | | of individuals. For example, you may wish to reserve |
| on when it is appropriate to write a small business plan, | | | | your detailed financial information for only your senior |
| short biz plan, extended executive summary, | | | | managers and your bankers. |
| comprehensive business profile or whatever else the | | | | In some instances, a company may not have a plan |
| planner may choose to call the document. | | | | and it needs one quickly at the request of an investor |
| Indeed, there are occasions when a detailed full-length | | | | or other interested party. While it is always better to |
| business plan is not necessary for the intended | | | | have a full-length document to show the reader how |
| audience or purpose. But, before we go any further, it | | | | well you have planned your business, it is certainly |
| is important to emphasize that every successful | | | | easier and more practical to pull together a "small |
| business should have a full-length, well-documented | | | | business plan" in this situation. A 7-12 page plan may do |
| plan that is updated at least once a year and any | | | | the trick. |
| changes are communicated to the company's | | | | Just remember that no matter the length or depth of |
| constituents (employees, customers, etc.). | | | | your plan, it will always be reflective of the time and |
| An abbreviated, or "small" business plan is most useful | | | | effort that was put into its preparation. Most |
| when it is not necessary for the audience to read | | | | importantly, it will have your name on it so be sure it |
| certain parts of the full-length document. For example, | | | | reflects well on you and your company. |