STRATEGIC BUSINESS PLANNING
A Strategic Business Plan is much more than a calculated method for getting financing. If your plans and thoughts are still wandering around inside your head, you need to develop a strategic plan to define the direction of your organization. An effective plan will clarify your leadership goals and keep all key players conforming to a concise plan. It spells out specific tasks to be completed in order to move on.
Strategic Plans are often put into action when…
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With a new venture start up, product or service
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Increasing a service, product line or with company expansion
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A new business purchase, service or product
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Transforming a declining business
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The Strategic Plan establishes an outline which describes your organization, its products, management staff, financial condition, competition and business risks.
The plan enables you to...
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Pinpoints and classifies a target customer profile, attributes, advantages and benefits of your new enterprise, product or service.
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Verify that your plans are sound by completely exploring how target needs will be met with your new venture.
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Develop a marketing strategy including complete descriptions of targeted advertising along with carrying out timelines.
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You also get to examine market stability, characteristics of your customers, the competitive environment, sales prospective, and anticipated results of your advertising and promotions.
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Create staffing plans, identify the key team members, experience, skills and attitudes to build up the venture.
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Create management plans including complete documentation of management systems and reasonable timelines for set up.
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Formulate financial plans for startup expenses, operating costs, income, profits, and a break-even examination for the first few years.
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Prepared financial plans enable you to effectively anticipate future problems or avoid them. The perception achieved through your Strategic Business Plan can make a substantial contribution to your business’s success, and serve as a positive means to get the funding you require. Most lending institutions and private investors actually will not consider funding a business without a strong, credible financial plan.
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Recognize building and equipment needs, identify vendors and obtain estimates.
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Establish business markers including timelines for upcoming projects and services in development.
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