After many meetings and several revisions, I think we are finally done with the Business Plan and Strategic Plan, although I will now directly contradict myself and say that they are technically never done. We’ve tuned both of them to a point where we feel comfortable giving them to potential investors, or others for their feedback. As we move through the business building process, I’ve educated myself more and more, and make adjustments to the plans as a result.
You might be asking yourself: “what’s the difference between a Business Plan and a Strategic Plan”. Well, definitions seem to vary a bit when looking them up on the Internet, but it is my understanding that a Business Plan is the goals and definitions of how your business is going to work, while a Strategic Plan is how you are going to accomplish those goals (including the financials etc.).