Strategic Business Planning
A Strategic Business Plan is much more than a tool to obtain financing. If you have all your plans and ideas inside your head, preparing a strategic plan can help you clarify your company's direction. It can ensure that your key leaders are all on the same page, and it keeps both management and staff focused on the tasks at hand.
A Strategic Business Plan is needed when:
- Starting a new venture, product or service
- Expanding a current organization, product or service
- Buying a new business, product or service
- Turning around a declining business
The Strategic Business Plan provides a blueprint of your business, describing its products, the competitive environment, management team, financial health, and business risks.
The plan allows you to...
- Identify and describe the target customer profile, features, and the advantages and benefits of your new venture, product or service.
- Justify the credibility of your plans by fully researching the need of your new venture.
- Develop marketing plans that include full descriptions of targeted promotional campaigns with implementation timelines. You also have the opporunity to examine market conditions, the nature of your customers and your competitors, sales potential, and projected results of your promotional campaigns.
- Develop staffing plans, including identifying the key players, skills, attitudes and expertise needed to build the venture.
- Develop management plans, including full descriptions of management systems and timelines for implementation.
- Develop financial plans, including projected startup costs, operating costs, revenue, profits, and break-even analysis for the first three to five years. Projected financial plans allow you to effectively predict upcoming problems and prevent them. The perspective gained through your Strategic Business Plan can make a significant contribution to your company's success and help you receive the funding you require. Most lending institutions and private investors will not speak to you without a solid financial plan.
- Identify building and equipment needs, including vendors and cost estimates.
- Formulate company milestones, including timelines for upcoming products and services in development.
Remember: Failing to plan is planning to fail.
Let us help you develop a powerful Strategic Business Plan that drives your business to the level of success you deserve.