By Abdel Steijns at April 17 2019 10:34:25
Here is a recap of where we are in this discussion: Business plans formalize an understanding of the task with appropriate analysis leading to a plan_of_action. Not all business plans are for profit motives. Business plans are for an enterprise effort and not focused on disciplines/departments, e.g. Marketing plan, sales plan, HR plan, supply chain plan, etc. Business plans are a great vehicle to build a team effort. Plans can be utilized for formalizing metrics relative to achieving goals and performance measurements. Some complex plans might include a Project Management professional. There are internal and external audiences for business plans. Most external focused plans are for outside funding of projects. Be mindful of the 'tone' the plan projects to the reader. Tone refers to the impression a person gets from reading the plan; a subliminal feeling about the plan.
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.
Research Your Competitors (But Don't Copy!) _ Every business plan should focus a lot on the business's potential competitors, because research and analysis of the competition effectively gives you plenty of useful information. It may guide you as to where you should be advertising and marketing, or certain strategies to use or ones to avoid because you see they have been used unsuccessfully by others.
Your marketing efforts do not have to be expensive. In many cases, companies that don't have marketing plans spend more than is necessary to reach their customers. With a plan that will spell out the ways you will market your company, you will save money and energy on your business marketing efforts. Creating an effective marketing plan is one of the most crucial elements of planning for your business.