A business plan is a document that describes your business strategy and business's future. It is a written description that helps you to outline what you plan to do and how you plan to do it.
To succeed in business you simply must plan the steps, set priorities, allocate resources, and manage the cash. Your business plan also shows how you will get from now to the future, which is inherently strategic. You start your business from the beginning with certain and limited resources and abilities. Then you describe where you want to get to in the future (usually three to five years out). At that time, your business will have a greater profitability and increased assets with different set of resources and abilities.
An elevator pitch (also called elevator speech or elevator statement) is a short business description of what your business is about and why someone should work with you. The goal of an elevator pitch is to create a memorable and positive impression and to open the door to further conversation. It is typically used in business settings such as face-to-face networking.
The pitch should be designed to pique interest, to give valuable tidbits of information, and to secure some sort of return communication. A successful entrepreneur will win an e-mail, phone call, or interview after an elevator pitch.
The length of an elevator pitch can vary, but you typically want to be able to present your elevator pitch comfortably without rushing in under two minutes, ideally in under one minute. The goal length should be 150-250 words.