A standard business plan is a bulky document that contains every detail of the company. Most external plans slide into this category as they often need to be detailed for presenting to people outside the company.
A standard business plan contains these sections:
A standard plan is usually presented to banks and any potential investors as it provides a complete view of the company, and future financial projections, and helps attain funding. But oftentimes, drafting a traditional business plan can be a tedious task as it takes a lot of time and effort.
This is the reason why modern entrepreneurs choose the smart way to plan their business by opting for lean plans.