How is a lean plan different from the traditional business'plan? The lean plan only includes the components for the build-measure-learn loop. The lean plan exists only as a virtual document rather than a printed copy. The lean plan is only used for internal audiences rather than external ones. The lean plan only includes key financial information and competitive analysis.

A lean plan differs from a traditional business plan in several key ways, primarily focusing on flexibility, speed, and iterative development. Here’s a breakdown of the differences based on the options you provided: 1. **Build-Measure-Learn Loop**: The lean plan emphasizes the build-measure-learn feedback loop, which is central to the Lean Startup methodology. This approach allows businesses to quickly test hypotheses, gather data, and iterate on their products or services based on real customer feedback. In contrast, a traditional business plan often involves extensive upfront planning and detailed projections that may not adapt as quickly to changing circumstances. 2. **Virtual Document**: While lean plans can be maintained as virtual documents, this is not a defining characteristic. Traditional business plans can also be digital. The key difference lies more in the content and approach rather than the format. 3. **Internal vs. External Audiences**: Lean plans are often more focused on internal audiences, such as team members and stakeholders, to guide the development process. Traditional business plans are typically designed for external audiences, such as investors or banks, and may include more comprehensive details to secure funding. 4. **Key Financial Information and Competitive Analysis**: Lean plans tend to focus on essential financial metrics and a high-level competitive analysis rather than exhaustive details. Traditional business plans usually include extensive financial forecasts, market analysis, and detailed competitive strategies. In summary, the most accurate distinction is that the lean plan is designed around the build-measure-learn loop, prioritizing flexibility and rapid iteration, while traditional business plans are more comprehensive and structured for external validation and funding.