Do You Need Alternate Versions of Your Business Plan?
No law limits you to just one version of your business plan. In fact, many companies write alyernate versions specifically targeted to different audiences — for example, one aimed at employees, another toward potential lenders or investors, and a third for more general interests.
Developing several versions of your business plan is basically an assembly job. Follow these steps down the line:
Create a complete and comprehensive master plan — one that includes everything that’s likely to be important to all your stakeholders.
Zero in on which special audiences you want to address.
Decide which parts of your master plan are important and which ones aren’t relevant to each specific target audience.
After you know your audience and its requirements, putting together an alternate version is as simple as cutting and pasting the relevant parts of the master plan together.
When creating alternate versions of your plan, make sure that they all mesh with each another. For example, don’t write one mission statement for one audience and another for a second group of readers.
Whatever you do, don’t create different sets of goals and objectives for different stakeholders. At the very least, you’ll confuse everyone — yourself included. At worst, you’ll anger audiences if they discover that you’re saying one thing to one group and something different to another.
The job of creating a targeted version of your business plan is really one of deciding which parts of the master plan to include and which to leave out. The wording should remain the same in all versions.