A comprehensive business plan is also a strategic business plan that includes a higher level of information and analysis in areas like stakeholder relationships and strategic action plans. This type of business plan is designed to describe focused action and identify clear and measurable results. Existing businesses pursuing expansion plans or startups entering highly competitive industries can develop comprehensive business plans that concentrate on facts, sources, analysis and quantitative data to present plans and intents.
The comprehensive business plan includes the expected sections like Executive Summary, Marketing Analysis and Financial Analysis, but it goes deeper into details relevant to the industry and business.
For example, the comprehensive business plan will include:
- Description of industry or business issues that go beyond SWOT analysis and include topics like capability gaps and market barriers
- Deeper analysis of business factors including projected specific and measurable results of specific strategic initiatives and descriptions of action oriented efforts
- Developing key performance measures and targets that are directed at ensuring the business is successfully competing in a rapidly changing market
- Emphasis on accountability for results by management
- Additional operational plan addressing specific business factors like plant, equipment, quality control, required workforce skills, suppliers, and so on
- Description of strategic initiatives for long-term business growth
A comprehensive plan includes all sections of the marketing plan but goes one step further to address unique specifics of the business. The standard business plan includes the Executive Summary, Business Description, Marketing Strategies, Competitive Analysis, Operations and Management Plan, and Financial Plan. However, a comprehensive business plan delves deeper into each section compared to a standard business plan. The intent is to develop a high-impact business plan that includes expanded sections that go more in-depth for the purpose of explaining businesses that are competing in industries experience rapid change (often related to technology) and intense competitions. Potential funders, including banks, equity partners, venture capitalists, and so on, want comprehensive details because of the increased risk businesses face entering highly competitive industries.
A comprehensive business plan is different from a traditional business plan because it delves deeply into strategic initiatives. It provides information about strategic directions that company plans on taking to move the business forward. A traditional business plan usually focuses on structure and planned growth for a limited time period. The comprehensive business plan prioritizes resources, builds on sustainability, and addresses long-term viability. Large and small businesses need to develop comprehensive business plans because the plans look at what it takes to build a business beyond startup.
OGS Capital professionals work with a variety of businesses that want to go beyond the standard business plan and develop a strategic plan that seriously addresses opportunities, challenges and long-term needs. Entrepreneurs or executives ready to take their business to the next level only need to complete the OGS contact form to start a process leading to success.
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OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.