Question: How Many Different Versions of a Business Plan Should I Have?

I can think of at least four. Let's list them from most detailed and lengthy to least detailed and brief:

• Internal Operation Plan - A very detailed plan of exactly what will be done which sets the path on which the management team follows. The language is usually informal and contains confidential details and data.
• Formal Written Plan – This one is used for investors and other external stakeholders. It should be detailed and formal.
• Oral Presentation – An oral presentation of a well crafted slideshow. The slideshow presentation should be kept concise and limited to only the most important information. As with all good slideshow presentations, the slide should spark discussion and talking points, not explain things themselves.
• Elevator Pitch – A short oral overview of the business plan to be used as a teaser.