Business Plan Pro vs. Marketing Plan Pro or Both

Question:
As a startup Business what is the difference between a business plan and marketing plan. Do you invest in both or does the Business Plan Pro cover the same info that is covered by the stand alone Marketing Plan?

Answer:
You're right to assume that a business plan has to include a marketing plan, and Business Plan Pro does. Marketing Plan Pro goes into much more detail and depth in sales and marketing planning, offers additional strategy detail and market analysis, but does just the market analysis, expense budget, sales forecast, and milestones. Business Plan Pro, on the other hand, covers the whole business.

One immediate distinguishing point: Business Plan Pro gives you real cash flow analysis and insight, and balance sheet and ratios. Marketing Plan Pro doesn't. If you need to deal with the whole business, you might want both, but when in doubt, try the business plan first. Lots of people in business aren't responsible for cash flow, just sales and expenses. They don't want to deal with the full financials. If you are responsible for the whole business, you want the business plan first. If you don't manage cash flow or financials at all, you want Marketing Plan Pro first.

Marketing Plan Pro and Business Plan Pro have some of the same topics and some of the same spreadsheet structures, and information transfers easily from one to the other. For example, your sales forecast, sales and marketing expenses, market analysis, and mission statement go either way, and transfer from one to the other. After all, you do want to synchronize that information.