A strategic business plan is much more than a tool to obtain financing. If you still have all you plans and ideas locked up inside your head... preparing a strategic plan helps you clarify your company's direction, ensures your key leaders are all "on the same page", and keeps both management and staff focused on the tasks at hand.
If you're adding a new product or service to your existing business, then it's time to revisit your business plan.
If your organization has changed and you're looking at expanding, congratulations! It's a great time to review your business plan.
Are you purchasing a new business and folding it into yours? Or perhaps just purchasing a new product or service offering... you definitely need to revisit your strategic planning.
The strategic plan provides a blueprint, describing your company, its products, the competitive environment, management team, financial health, and business risks.
This is not just an overview of your company's vision and mission, but a detailed outline of your products, services, and the team that works with you.
This includes marketing plans with full descriptions of targeted promotional campaigns with implementation timelines, as well as staffing plans for growth.
Developed financial plans including projected startup costs, operating costs, revenue, profits, and break-even analysis for the first 3 to 5 years.
Looking for the missing manual for managing your small business's accounting? We couldn't find one either... but we can certainly guide you in the right direction.
