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A working plan is a tool to be used to operate your business.
What sets these kinds of plans apart from the working and presentation plans is that they aren’t necessarily describing how you’ll run the business.
They’re essentially more like an addendum to your actual business plan.
He has over 30 years of experience both as an entrepreneur and helping other entrepreneurs succeed.
Akira earned his BA in Engineering Sciences from Harvard University.
What if you raise prices, invest in staff training and reduce duplicative efforts?
Such what-if planning doesn’t have to be as formal as a presentation plan.For example, a new hire may not want to read the same, elaborate version of your plan that might be important to a potential investor. 7 Business Ideas for You The mini-plan is preferred by many recipients because they can read it or download it quickly to read later on their i Phone or tablet.You include most of the same ingredients that you would in a longer plan, but you cut to the highlights while telling the same story.A contingency plan is a plan based on the worst-case scenario that you can imagine your business surviving—loss of market share, heavy price competition, defection of a key member of your management team.Your business may be considering an acquisition, in which case a pro forma business plan (some call this a what-if plan) can help you understand what the acquisition is worth and how it might affect your core business.Many people lose sleep over an upcoming presentation, especially one that can play a vital role in the future of their business.But presenting your plan as a deck can be very powerful.If you decide to acquire that competitor or grow dramatically, you’ll want to incorporate some of the thinking already invested in these special purpose plans into your primary business plan.Related: How and Why Your Business Plan Should Change This article was originally posted here.Readers of a plan can’t always capture your passion for the business nor can they ask questions when you finish.But in 20 minutes, you can cover all the key points and tell your story from concept and mission statement through financial forecasts.