Do you have a plan for your business? In every list of top reasons businesses fail, the lack of planning ranks at the top. A Strategic Business Plan defines your mission, your vision, your goals and how you are going to reach them. Whether you want to expand a growing business or reverse an economic downturn, whether you are a new business owner, or are an experienced business owner who wants to take your business to the next level, a well thought out Strategic Business Plan will assist you in achieving the success you desire. Does a business strategy have to be complicated? No, but it should be strategic, involve all the stakeholders within your organization that influence your business and be well documented so that it can be shared back with your stakeholders and referred to often to see how you are performing against your goals.
A Strategic Business Plan defines your Personal Aim and how the business will help fulfill those personal goals. It will define your businesses purpose and the value proposition it offers to attract new customers and keep them coming back for more of your products and services. It will layout the long-term and short-term goals for your business and necessary steps along the way to achieve those goals. Your personal goals and business goals will be aligned to maximize the potential of success and you realizing your dreams.
There are many components to a Strategic Business Plan:
- Strategic Objective – your Strategic Objective is a very clear statement of what your business must do for you to achieve your personal aim.
- Mission Statement – the Mission statement describes who you are and what you do as a business.
- Vision Statement – your vision statement is your view of where the enterprise should be in the future
- Business Evaluation
- SWOT, (strengths, weaknesses, opportunities and challenges)
- Core Competencies
- Key Success Factors
- Business/Action Plan
- Goals and Objectives
- Three Year
- Five Year
- Exit Plan
- Financial/Cash Flow Plan
- Marketing Plan
- Business Valuation (Recommended)
The evaluation of your business will be on site talking to you, your employees, you’re customers, and key vendors. We will begin to understand the culture of your business, and observe the day-to-day interactions of your business to help us identify your strengths and your weaknesses. This process could last up to three days.
Together we will spend time communicating our observations, identifying your strengths weaknesses, your opportunities and your challenges. We will define the core competencies within your business that differentiate you from your competition and the key success factors that you must perform better or as well as your competiton. These session(s) should include key employees or other stakeholders that influence the execution of your business and ultimately the value of your products and services to your customers.
At this point the business plan will begin to take shape defining the short term and long term goals and the actions necessary to achieve these goals. These goals will be based on overcoming important shortcomings in your business, taking advantage of potentially profitable opportunities and maximizing the value of your business.
We will then create a financial/cash flow plan to support these goals using your historic financial data and best guess forecasts on the impact of new expenses and revenue opportunities.We will prepare and deliver a Strategic Business Plan for your business. While Beartooth Business Consultants will write this Strategic Business Plan, IT IS YOUR PLAN. You and your team will provide the input for the plan, the expertise, the vision, the goals will all come from you. Our role is to facilitate, ensure the process is completed in a timely basis and act as a sounding board, often playing the role of devils advocate so that strategies and ideas are thoroughly vetted out.
Strategic Business Planning helps you with:
- Clarify your vision
- You managing the important aspects of your business
- Improved communication of your value proposition among stakeholders, ownership, employees, customers, vendors.
- Effective decision making Higher probability of achieving your goals Identifying the strengths and weaknesses of your business
- Identify the opportunities that should be pursued
- Identify the possible threats to your business
- Identifying Core Competencies
- Determining Key Success factors
- Crafting long-term and short-term goals
- Analyzing the competition
- Communicating a strategy where all departments work together to make your business more efficient and ultimately more profitable
- Improving cash flow
- One Year, Three year, Five Year action plan(s)