A Strategic Business Plan is much more than a tool to obtain financing. If you still have all your plans and ideas locked up inside your head, preparing a strategic plan can help get your company’s direction. It can ensure that your key leaders are all on the same page, and helps you establish your plans for the feature.
A Strategic Plan is often 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 Plan provides a blueprint, describing your company, its products, the competitive environment, management team, financial health, business risks, and your business’s growth plan. 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 any potential customers.
- Include financial statements including full descriptions of targeted promotional campaigns with implementation timelines, and the measurable goals you have for the campaigns. Your financials should be laid out for at least three years and they should include expected sales and expense breakdowns.
- Establish a marketing plan identifying key sales strategy, pricing, anticipated results of your promotional and marketing endeavors.
- Define your products and services you will offer, and some of you plans and expected development phases needed to build them over time.
- Develop management plans including full descriptions of management, ownership, and staffing needs.
- Develop financial plans including projected startup costs, operating costs, revenue, profits, and break-even analysis for the first three to five years.
- Identify building and equipment needs including vendors and cost estimates.
- Include any other information you believe to be important to the venture, your plan can include background information obtained from an outside source.
- Provide an appendix including any other documentation required in chronological order.
- Your plan will include:
- Business goals and objectives including timelines for upcoming product and services in development.
- Current marketing positioning and promotional plans.
- 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.