Importance of a Business Plan

anna

When most businesses develop a business plan the intention is for funding purposes.  They take the information to the banking and investors to gather the monies they require to grow or promote their businesses.  However a good business plan is much more that funding it is about clarity and direction.

The time invested in working through the different areas of your business plan is a path to enlightenment on your business and how you choose to drive your company.  As you develop your plan a greater understanding evolves for your marketing, documentation, policies, and sales projections.  As the plan is implemented you make adjustments based on the realities of business.  These adjustments are imperative to making improvements in the direction of your company.

The business plan starts with a mission and vision.  This is the reason you want to have your company.  Who and you serving and why is it important?  It creates a set of values that as a company you choose to stand by.  It becomes the reason for change to occur.  It all goes back to the mission and vision and does the change support your mission.

The road map to your success is in your business plan and the turns and corrections we make are a learning curve for company growth and change.  We set benchmarks and goals and track our performance so that we can regulate whether we are on the right path.

The plan should include your industry and the changes that are occurring and how your company is going to grow along with the change.  This includes a clear idea of your clients and customers.  It also includes major competitors and how you are going to compete along side of them.

Be honest with yourself about the strengths and weakness of your company.  If customer service is a strength hem use it to your advantage and if delivery is a weakness make a plan of improvement.  It may also be a great idea to list all your services/product.  You may surprise yourself on which items are actually making you money once you start the analysis.

A large part of the business plan should include an explanation of what and how you are going to market your products or service.  A review of the revenue, cost and projected profit should be part of your plan. All this is your road map to success!!!

Anna Ottaviani is a Board Certified NLP Master Practitioner & Master Coach, Board Certified Master Hypnotherapist,Creating Your Future® , Time Line® Therapist Practitioner and Reiki Master. Her methods are unique and tailored to each individual client. She can be reached at www.sucessfullyyou.ca or by phone at 289-221-5772. You can follow her on Facebook at http://www.facebook.com/successfullyyou?ref=ts&fref=ts

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