After thinking through your Goals and Assumptions, it’s time to think through your strategies that will be implemented to achieve your goals. Your business strategy includes the tactics or methodologies of how to achieve your goals. So “What and How” we do it! Again, I don’t like to be repetitive but if you use the Business Plan Outline , this will lead you through the process. Don’t be afraid to ask for help – we’re offering one free hour through our website. Try it, you might like it! It’s an easy, cost-effective method to have an experienced consultant “on call”.

 

In laying out your strategies, ask questions along with the outline (for example):

  • Sales and Marketing
    • What customers do I have returning?
    • Where and how do I get new customers?
    • What are the best marketing methods?
    • What’s the geographic area we want to sell into?
    • What could go wrong?
    • What are the risks?
    • What are the opportunities?
    • What’s the competition?
      • What are your advantages? Your disadvantages?

Then, do the same process for:

  • Operations
  • Product development
  • Human resources
  • Capital expenditures and Research and Development
  • Most importantly, your financial plan

 

Remember, when you’re driving from coast to coast, you layout a route with a map. Preparing and using a business plan is the same.

 

Without a plan – any route will get you there, it just may not be the most efficient way or the most profitable.
Talk with you next time!