A strategic business plan is more than a tool to obtain financing. It is a written document which pairs the objectives of a company with the needs of the market place. This is achieved by carefully analyzing a particular business industry and being honest about your company’s strengths and weaknesses in meeting the needs of the industry. Preparing a strategic plan helps you clarify your company’s direction, ensures your key leaders are all “on the same page”, and keeps both management and staff focused on the tasks at hand. The Strategic Plan provides a blueprint, describing your company, its products, the competitive environment, management team, financial health, and business risks.
Strategic Business Plans are most useful when conducting any of the following:
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 plan allows you to…
- Identify and describe the target customer profile, features, advantages and benefits of your new venture, product or service.
- Justify that your plans are credible by fully researching the need being filled with your new venture.
- Develop marketing plans including full descriptions of targeted promotional campaigns with implementation timelines. You also get to examine market conditions, the nature of your customers, as well as 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 3 to 5 years.
- Projected financial plans allow you to effectively predict upcoming problems, or prevent them. In other words, the perspective gained through your Strategic Business Plan can make a significant contribution to your company’s success, and help you get the funding you require. In fact, most lending institutions and private investors will not even talk 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.
Let us help you develop a powerful Strategic Business Plan that drives your business to the level of success you deserve.