It's important to have an established business strategy and an appropriate business plan to show your investors or lender that you are ready for the next step. When you're starting out, a lot of people want to invest in your business because they believe it will make them money. A business plan can help you attract partners and employees.
Traditional business plans take a lot of time, but with a lean business plan, you can make sure your business idea is perfect before you launch. Most business loans are based on traditional business plans that are complex and detailed, and usually require you to provide a lot of documentation. You can also check this link for more detailed solution. The lean plan, on the other hand, are shorter and may use more charts than written copy.
They’re typically designed to grow fast because they provide an inexpensive way to enter the market. Which plan you choose for your new business depends on your unique situation, goals, and budget.