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A business plan is a document that summarizes the operational and financial objectives of a business and contains the detailed plans and budgets showing how the objectives are to be realized. It is the road map to the success of your business. For anyone starting a business, it's a vital first step.
A strategic plan should not be confused with a business plan. A business plan is about setting short-or mid-term goals and defining the steps necessary to achieve them. A strategic plan is typically focused on a business' mid-to long-term goals and explains the basic strategies for achieving them.etting the planning document right. The priority with strategic planning is to get the process right. But don't neglect the outcome-it's also important to make sure you capture the results in a strategic planning document that communicates clearly to everyone in your business what your top-level objectives are.