What is the difference between a marketing plan and a business plan?
The marketing plan is a segment of the business plan, though it can effectively be used as a stand-alone document. The marketing plan identifies the business’s target market (client base) and isolates specific goals and courses of action needed to achieve those goals. The business plan contains all of the financial information of the company or business, which is not normally a component of the marketing plan. A solid marketing plan, supplemented with financial forecasts and information from your accountant (or from standard reports created in QuickBooks), will provide you with an excellent business plan. The business plan may provide you with financial goals; however, in my opinion, it is the marketing plan that will drive you to achieve those financial goals. How important are financial records, financial forecasts and financial goals? Extremely important! As a small business owner, you must be able to acquire the financial status of your business in a matter of minutes. In a large c
