Strategic Business Planning
No one Plans to Fail. Create a Strategic Business Plan to Help you Succeed.
When you have a strategic business plan, you are in control of your business and your destiny. A business plan is a roadmap of where you want to be in the near and far future, and it provides direction to get there. Without a business plan, you are acting as a passenger in the plane you should be piloting. Without a business plan, most businesses carry on with no direction and no goals.
A strategic business plan gives you the ability to know if you are succeeding and growing at the rate you planned. Without a plan, you are blind to your direction, and your business has a greater chance of failing.
A Strategic business plan is a systematic process for developing your company’s direction. The plan gives you goals, outlines the direction you are taking, offers you an opportunity for growth, and allows you to see the big picture.
A strategic business plan comes from the vision you have for your business. It gives you the best opportunity to make your dream a reality.
It is Never Too Late to Create a Strategic Business Plan
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
A strategic business plan allows you to:
Identify and describe your new venture, product, and service's target customer profile, features, advantages, and benefits.
Justify that your plans are credible by thoroughly 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, your sales potential, and the 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 predict upcoming problems effectively or prevent them.
Identify building and equipment needs, including vendors and cost estimates.
Formulate company milestones, including timelines for upcoming products and services in development.
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A strategic plan is about high-level thinking and generally looks out from 3 to 5 years. It can be created at any time and should be regularly revisited. Having a plan allows you to be the pilot. A strategic business plan gives you complete control and takes most of the guesswork out of running your business. If you do not have a strategic business plan, call Certainty Tax Advisors for a free consultation.