You may come across different views regarding the content and length of a Business Plan.

You will also find that there are different views regarding the use of a Business Plan and the benefits it provides.

Our purpose is to provide a thorough explanation of what a Brief (Summarising) Abbreviated Business Plan is and when that is the appropriate type of Business Plan for your enterprise.

Also, you can click, here, to read “What is a Business Plan, Who Needs one and Why, Benefits” ", explaining in detail what is a Business Plan and what it involves, how a Business Plan is utilised to maximise potential benefits and what are the Benefits provided.

If your specific needs require a detailed Business Plan, you can click, here, to read in depth what information needs to be analysed and recorded in each section of your Business Plan.

Bear in mind that in case you need a Business Plan to secure a Business Loan or to search for Investors, regardless of whether your business is an Existing Businesses or a Start-up, you will need a Formal Business Plan.

Contact us for support in assessing your Business Planning needs, and for the Preparation and Implementation of the appropriate Business Plan for your enterprise.

When will you need a Brief (Summarising) Abbreviated Business Plan?
If a Formal Business Plan is not required for your particular needs, the utilisation of an Abbreviated Business Plan will be easier and more efficient because it will not include summaries, descriptions, and details that you and your associates or employees already know.

The Brief (Summarising) Abbreviated Business Plan does not require the length of analysis and all the formal information necessary in the case of a Business Plan to be presented to external audiences. The Brief Abbreviated Business Plan focuses almost exclusively on business strategy, tactics, milestones, key performance indicators, budgets and financial projections.

Note that a Summarising Abbreviated Business Plan records information in brief, still the analysis steps need to be followed in order to obtain the information to be recorded.

A Brief Abbreviated Business Plan omits sections, such as exit strategy, since it will not be addressed to external audiences, like potential investors, but exclusively to an internal audience.

The Brief (Summarising) Abbreviated Business Plan can be a key management tool for any enterprise, either an existing business or a Start-up.

Typically, the length of a Brief (Summarising) Abbreviated Business Plan is only five to ten pages long. Like any Business Plan, being a tool to track your performance and adjust your strategy and tactics accordingly, it needs to be evaluated and revised on a regular basis, at least once a month.

It can be very helpful if you are trying to grow your business, since you will need a tool to keep track of your finances and milestones in relation to your goals, so that you can respond immediately to opportunities and react fast to challenges.

In the case that a Formal Business Plan is not required, a Brief (Summarising) Abbreviated Business Plan for internal use, which includes significant information in the form of bullet points, supported by Financial Projections, is a necessary tool for any business. Enterprises that apply good practices always keep their Support Business Plan up to date.

Developing a documented, credible, Abbreviated Business Plan and regularly updating it, is a key tool for managing Strategy, Tactics, Milestones, Activities and Cash Flows, and is therefore a necessary tool for the success of any organisation.

A Business Plan should include, at least, the following information
An Abbreviated Business Plan includes specific deadlines and milestones, as well as the budgets allocated to their implementation. In particular, it includes four main axes, which constitute basic functions of the management of an enterprise:

1. Your Strategy: It Includes a bullet point description of your target market based on characteristics that can be quantified (such as demographic, geographic and psychographic characteristics), it also describes what your business offers (and how you differentiate from competition).Also, it records your business identity (including a brief business history and the skills of the management team). Moreover, it specifies your long-term goals. This data is for owners and managers, as a continuous reminder of your Strategy. This information serves as a constant reminder of Strategy to owners and managers.
2. The tactics you will use to implement your strategy: It includes, in bullet point format, marketing decisions such as pricing, marketing channels, website, social media, promotion and advertising. Also, in the same section outlines the tactics for specific products or services, including pricing, launch dates, new releases, packaging, distribution/ transportation/ delivery, etc. The same section also includes other tactics like recruitment for specific job descriptions, training requirements, and so forth.
3. Specific benchmarks for measurement of your progress: It includes a list of specific assumptions, milestones and objective & measurable Performance Indicators, responsibilities for specific activities / tasks, and figures you need to track.
4. Essential figures: This is the basic financial plan of your business, including sales forecasts, expenditures budget, and cash flow.

Any business plan, whether it concerns a Start-up or an existing business, should include the following:

• Income statement (Profit and Loss Statement)
• Cash Flow Analysis
• Balance sheet
• Sales forecast
• Personnel plan
• And possibly some financial ratios and/ or Break Even Analysis.

You should be able to track each of the financial indicators specified in your Business Plan, easily and quickly, at least by using a basic spreadsheet such as Excel. Ideally, you will use a specialised software application that will automatically compare your Plan with your actual results.

The benefits of Business Planning start with the preparation of the Business Plan, as measurable goals will be defined, recorded and budgeted, and strategies and tactics will be developed and planned for implementation. But that's only the beginning.

Contact us for support in assessing your Business Planning needs, and for the Preparation and Implementation of the appropriate Business Plan for your enterprise.