THE DIFFERENCE BETWEEN EARLY STAGE AND LATE STAGE BUSINESS PlANS
So, what is the difference between an early stage and later stage Business Plan. Well, the early stage business plan is a forecast or best case scenario document. It must address risks and contingencies, but much of the data required for protracted, serious scrutiny is non-existent.
Early stage Startups live on islands. Early stage companies usually have little, if any, profit and relatively few users so their perspective on their own viability and the marketplace is speculative and circumstantial.
Late stage Startups know that the world is round. Later stage companies have been there and done that. They have empirical data to evaluate their position vis-à-vis their Users, strategic partners, investors, direct competitors, and similar publicly traded or acquired companies.
Later stage companies have the additional burdens of defending their previous forecasts and capital efficiency in their business plans.
They must also demonstrate clearly and credibility how they will substantially scale from their current position into a high growth behemoth capable of commanding market leadership.