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[Word Wise] Business Plan vs. Strategic Plan: What’s the Difference?
June 05, 2014

Word Wise Newsletter

Copywriting Basics and Writing Techniques to Help You Write Better

Volume 10, Number 6 ... ISSN: 1933-9690

Dear fellow writers,

Welcome back to Word Wise! Once or twice a month, we’ll send you this newsletter packed with practical and useful writing tips and copywriting basics to use whether you’re a marketing professional, nonprofit leader, or copywriting newbie -- to help you write better.

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FEATURE: Business Plan vs. Strategic Plan: What’s the Difference?

A business plan different than a strategic plan. A business plan focuses on your organization’s operational elements, specifically its organizational structure and financial structure which outlines your programming. A strategic plan outlines what activities you undertake day-to-day to accomplish your wonderful work.

It’s easy to see why you need both, whether you’re a sole proprietor, a ministry, a nonprofit, or a small business.

If you know the differences between the two, you have a great start in writing them. Here ways the two plans differ.

A business plan …

  • Is often chosen by entrepreneurs and start ups
  • Provides structure to initially define an organization
  • Is used when you set up an organization, seek funding, or make a presentation to a bank
  • Presents a case
  • Usually covers a time period of no more than 1 year
A strategic plan …
  • Is chosen by existing organizations that want to grow
  • Is used to manage the direction of an organization
  • Provides focus to move the nonprofit from where it is to where it wants to go
  • Prioritizes resources
  • Covers a time period from 1 to 5 years

Read more about the two kinds of plans you need. And get more tips and writing templates from our Strategic Planning Pinterest board.

Writing Tip: The Most Important Step in Writing a Business Plan

The most important step in writing a business plan has nothing to do with writing.

It’s about concepting. Before you write one word, clarify your organization’s mission. Know who you are and what you do. Keep your vision front and center as you put the document together. Don't take this step lightly ... it is key to success.

Take these 5 pre-writing steps before your write your business plan to make things go faster and easier.

More about Writing Business Plans and Strategic Plans

Pre-Writing Steps to Writing a Business Plan Business Plan Elements: What Should You Include? Business Plan Writing Tips Elements of a Nonprofit Strategic Plan

Finally ... A Wise Word

Check out more inspiring Quotes about Copywriting and Writing on our Pinterest board.

That’s it for now. See you next time!

Good writing matters,

Kathy with Nonprofit Copywriter
Email me with your comments and questions!

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