Whats the difference between business strategy, business plan and business model?

Business strategy is the nature at which your business operates
Business plan (name says it all) that's the written note about your business strategy, your business's future resolutions and how you aim to accomplish it.
Business model...........blank

A strategic plan is mainly used for execute and control the strategic direction of an existing business. A business plan is used to primarily start a business, get funding, or direct procedure. The two plans cover different time frames as well.

These three terms all play a role in the success of a business, but they serve different purposes:

Business Model: This is the blueprint for how your business will operate and generate profit. It outlines the core components like:
Value proposition: What problem do you solve for your customers?
Target market: Who are you selling to?
Revenue streams: How will you make money?
Cost structure: What are your expenses?
Think of your business model as the foundation of your house. It defines the core structure and ensures everything fits together functionally.

Business Strategy: This is the overall game plan for achieving your business goals. It leverages your business model and outlines how you'll compete in the market. Here, you'll consider:
Competitive advantage: What sets you apart from the competition?
Marketing strategy: How will you reach your target market?
Long-term goals: Where do you see the business in 5 or 10 years?
The business strategy uses the foundation of the business model to determine how you'll navigate the marketplace and achieve success.

Business Plan: This is a formal document that details your business model and strategy in a clear and concise way. It's typically used to secure funding from investors or lenders. A business plan will include:
Executive summary: A high-level overview of your business.
Market analysis: An in-depth look at your target market and competition.
Management team: Information about the people who will be running the business.
Financial projections: Forecasts of your future revenue and expenses.
The business plan is like a presentation of your house - it showcases the blueprint (business model) and how you plan to build it (business strategy) to convince others to invest.

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