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A complete business plan must include a set of financial projections for the business.These forward-looking projected financial statements are often called pro-forma financial statements or simply the "pro-formas." They include the overall budget, current and projected financing, a market analysis, and its marketing strategy approach.
They are standard, with much more detail in each section.In fact, very few companies are able to last without one.There are definitely more benefits to creating and sticking to a business plan including being able to think through ideas without putting too much money into them—and, ultimately, losing in the end.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.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.Products and services: Here, the company can outline the products and services it will offer, and may also include pricing, product lifespan, and benefits to the consumer.Other factors that may go into this section include production and manufacturing processes, any patents the company may have, as well as proprietary technology.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.