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Operational planning: With a focus on short-term actions, this type of planning usually results in a detailed annual work plan, of which the business plan contains only the highlights.

Financial planning: The numerical results of strategic and operational planning are shown in budgets and projected financial statements; these are always included in the business plan in their entirety.

Financial Plan : The financial plan consists of four sections: Financial Worksheets, Cash Flow Projections, Financial Statements, and Additional Financial Information. All of these components will tell the story of how you plan to start or grow your business from a financial perspective. It is vital that you explain the assumptions under which you have based your projections, for example, "We assume that there are no unforeseen changes in economic policy to make our products and service immediately obsolete." or "We assume interest rates will stay the same over the next three years." (both quotes from Bplans.com sample business plans)

Essentially, the three main elements of a business plan are strategies, actions, and financial projections. In order to cover all of the principle elements, you will engage in other types of planning:

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