There's lots of talk about marketing plans in books, at meetings, and on Internet sites, all revolving around what they are, how it's written, and when to review it for updates.

Two complete sample marketing plans are included in the book Marketing Strategies for the Home-Based Business: Solutions You Can Use Today.

One plan example is for a service-based business, the other represents a product company.

The plans also take into account how one business is at the start-up stage and how the other is an ongoing enterprise incorporating the changing economy into its future.

Both plans are explained on multiple pages and include demographics, financials, competition, and projected growth.

Does your firm's marketing plan exist? Was it created using a generic model, and is it consulted frequently as your business continues?

I remember writing my initial marketing plan. Its pages were added within rigid front and back covers as suggested in a magazine article. The writer said that the plan is to appear formal, as if it to be reviewed by a loan officer or private investors.

Today, the focus is to create a more informal marketing plan. This is not to say that it is relaxed or sloppy in appearance. It's a trend to simplify the process of writing the plan so that it takes hours to prepare rather than days.

I've often heard, from millionaire entrepreneurs, that if a marketing plan cannot be mapped on a napkin, it's too complicated.

Whether you lean more towards a formal plan or one that's simplified, the bottom line is that it's crucial to understand how you'll introduce and deliver your product or service to customers quickly and efficiently and that they are not only satisfied but also cheerleaders who help you grow the business.

Click here to review the 7 steps of a simplified marketing plan.