The Business Planning Process

The Business Planning Process-84
Strategy is about choices: knowing what to do as much as knowing what not to do.Your strategic plan tells your people what they should be doing so that they don't have to worry about doing the wrong things, or having to go to a manager every time there is a decision to make.We have plenty of in-depth articles here on Bplans about business planning, for example: why you should plan, what kind of plan you need, and how to prepare a formal business plan document.

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What you include will vary depending on what you’ve relied on in drafting your business plan.

Also, you should only include what is necessary to support what you’ve said elsewhere.

The document that contains the strategic plan is not what is valuable; it's the information within it and the process used to create it, that is then SHARED and COMMUNICATED with the rest of your team.

A great strategy is most often re-evaluated on an ongoing basis (yearly or quarterly, for example), rather than being a static document just sitting in a binder.

Here, you get to introduce readers to your company with a brief overview. This will also help your readers understand what to expect when they work with you—will the experience be marked by certainty or frustration?

Also, you can split this section into two subsections, an operations section and a management section: If you discover expertise gaps in your team, you can also fill them in through outsourcing, vendors, and partnerships.

For instance, helps companies stay compliant with critical business filings, so you can focus on what you do best without having to worry about whether you remembered to file a necessary report with the government.

Step 5: Write a Marketing Plan Your marketing plan provides a more detailed look at your products and services, the market into which you are launching, and how you plan to promote your business among prospective customers.

It can help you take your small business to places you never thought possible.

A strategic plan is a valuable guide for your employees, your organization's leadership and your stakeholders to know where you're going and why you're going there.

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