With for-profit entities, external stakeholders include investors and customers, for government agencies, external stakeholders are the tax-payers, higher-level government agencies, and international lending bodies such as the International Monetary Fund, the World Bank, various economic agencies of the United Nations, and development banks.
Internally-focused business plans target intermediate goals required to reach the external goals.
This situation is complicated by the fact that many venture capitalists will refuse to sign an NDA before looking at a business plan, lest it put them in the untenable position of looking at two independently developed look-alike business plans, both claiming originality.
In such situations, one may need to develop two versions of the business plan: a stripped-down plan that can be used to develop a relationship and a detailed plan that is only shown when investors have sufficient interest and trust to sign a Non-disclosure agreement.
If a new product is being proposed and time permits, a demonstration of the product may be included.
A written presentation for external stakeholders is a detailed, well written, and pleasingly formatted plan targeted at external stakeholders.A pitch deck is a slide show and oral presentation that is meant to trigger discussion and interest potential investors in reading the written presentation.The content of the presentation is usually limited to the executive summary and a few key graphs showing financial trends and key decision making benchmarks.It is called an elevator pitch as it is supposed to be content that can be explained to someone else quickly in an elevator.The elevator pitch should be between 30 and 60 seconds.Typical structure for a business plan for a start up venture Cost and revenue estimates are central to any business plan for deciding the viability of the planned venture.But costs are often underestimated and revenues overestimated resulting in later cost overruns, revenue shortfalls, and possibly non-viability.This allows success of the plan to be measured using non-financial measures.Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans.Externally-focused plans draft goals that are important to outside stakeholders, particularly financial stakeholders.These plans typically have detailed information about the organization or the team making effort to reach its goals.