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These tend to be much longer and require a lot more work.Lean startup business plans, on the other hand, use a standard structure even though they aren't as common in the business world.
For example, Tesla Motors.'s electric car business essentially began only as a business plan.
A business plan is not meant to be a static document.
These business plans are short—as short as one page—and have very little detail.
If a company uses this kind of plan, they should expect to provide more detail if an investor or lender requests it.
A good business plan should outline all the costs and the downfalls of each decision a company makes.
Business plans, even among competitors in the same industry, are rarely identical.
The idea behind putting together a business plan is to enable owners to have a more defined picture of potential costs and drawbacks to certain business decisions and to help them modify their structures accordingly before implementing these ideas.
It also allows owners to project what type of financing is required to get their businesses up and running.
They also act as a means to get people to work with and invest in the business.
Although there are no right or wrong business plans, they can fall into two different categories—traditional or lean startup.