Welcome to our Planning 101 series: designed to demystify the planning process, address what’s included in different types of plans, and prepare you to start strategic planning and/or business planning with a clear sense of what to expect.

Various types of business plans will be your roadmaps to securing funding, planning for growth, or making big decisions through your business’s lifespan. In this guide, I’ll walk you through different types of business plans, discussing their format and ideal use cases so you can make the best moves for your business.

Strategic planning requires multiple senior stakeholders to engage in high-level decision-making. They must collaborate to align on business priorities and ensure all stakeholders contribute to and support the strategy.

The right business plan depends on your goals, target market, and the stage of your business. Selecting the right type ensures efficiency, clarity, and alignment with your objectives.

Creating a business plan sets your company up for success with a clear, applicable strategy. Here are four practical tips for making your plan more compelling, whether you’re guiding your new team’s efforts or planning for sustainable growth.