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By Steije Blokpoel at April 25 2019 23:52:53

The author runs InkSeal Business Plan Services, a company based in Toronto, Ontario, Canada, that writes and edits business plans, provides technical writing services and Internet marketing (SEO, etc.). InkSeal has a team of half a dozen other writers and editors to serve clients all over Canada, the USA and beyond.

Strategic Planning & Goals: The first step is to identify the key company goals which will be the over_arching direction of the plan. These goals should be focused on three areas: financial, growth initiatives and alignment to the company's vision/mission. This provides the overall direction of the company by establishing high_level goals that will be achieved by tactical initiatives. The overall plan should be 1 to 3 years with measurement mileposts monthly, quarterly and annually. While the plan is put in place at the onset of the year, it should be constantly re_forecast with actual results throughout the year.

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The Importance of a Business Plan _ The success of a business starts with a business plan. The plan defines your business as to what it is and how you plan to achieve the goals of the business. It presents a clear picture of your business in terms of goals and objectives.

What should come into your business plan is how you assess it, how you foresee anything occurring that could have an adverse impact and how you would deal with it in the right ways. If you are looking to obtain funding from a bank or people you know, it is essential to show what the risk factors are in the proposed business and how you plan to defend against them.

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