STRATEGY IS ABOUT MAKING CHOICES, TRADE-OFFS
it's about deliberately choosing to be different
Whether you’re looking to set new business priorities, outline plans for growth, determine a product roadmap or plan your investment decisions, you’ll need a strategy. Coming to the realization that your organization needs one is easy. Actually creating a strategy is a lot trickier than you think.
outlining the products and services you will offer
The products & services chapter of your business plan is where the real meat of your plan lives. This is where we include information about the problem that you’re solving, your solution, and how your product or service fits into the existing competitive landscape.
We outline the products and services your business will offer, and may also include pricing, product lifespan, and benefits to the consumer. Other factors that may go into this section include production and manufacturing processes, any patents the company may have, as well as proprietary technology. Any information about research and development (R&D), hence a full in depth analysis of your offerings.
target market, customers, segments, competitors
strategy should evolve and change to fit your unique needs
Who are the core customers of your business and why? The target market portion of your business plan outlines this in detail. The target market should explain the demographics, psychographics, behavioristics, and geographic's of the ideal customer.
The side is competition. Competitor analysis is to identify both direct and indirect competition for your business, both now and in the future. Analyzing their marketing strategies and identifying their vulnerable areas by examining their strengths and weaknesses. This will help you determine your distinct competitive advantage. We should be very clear on who your target market is, what your market niche is, exactly how you'll stand apart from your competitors, and why you'll be successful doing so.
investors look for great teams in addition to great ideas.
Who’s responsible for turning all this high-level talk into results? The “team” section of your business plan answers that question by providing an overview of the roles responsible for each goal
Here we outline your business structure, management team, and staffing requirements. If your business requires specific employee and management expertise, you will need a strategy for finding and hiring qualified staff and retaining them.
The operations and management component of your plan is designed to describe how the business functions on a continuing basis. The operations plan highlights the logistics of the organization, such as the responsibilities of the management team, the tasks assigned to each division within the company, and capital and expense requirements related to the operations of the business.
marketing strategy should evolve and change to fit your unique needs
A thorough market analysis will help you define your prospects as well as help you establish pricing, distribution, and promotional strategies that will allow your company to be successful vis-à-vis your competition, both in the short and long term.
Here we describe how the company will attract and keep its customer base and how it intends to reach the consumer. This means a clear distribution channel is outlined. Also, we will spell out advertising and marketing campaign plans and through what types of media those campaigns will exist on.
without risks to manage & threats to mitigate, business life would be lot easier
While business risks abound and their consequences can be destructive, there are ways and means to ensure against them, to prevent them, and to minimize their damage, if and when they occur.
Running a business comes with many types of risk. Some of these potential hazards can destroy a business, while others can cause serious damage that is costly and time-consuming to repair.
To address risks, threats and vulnerabilities, they must be identified, validated and analyzed to determine the likelihood of an occurrence and its effect on the enterprise's business processes, employees and financials. A priority list is created to rank each risk according to the likelihood of occurrence and severity of the impact on the enterprise.
money doesn’t grow on trees, plan well
This is often what entrepreneurs find most daunting, but it doesn’t have to be as intimidating as it seems. Outline a financial summary of where your business is currently and where you’d like it to be in the future.
This section is at which the investors are most interested in if you are writing the business plan to raise investment. If the business plan is for internal use then financial planning and future projections aur the elements to provide you the key insights.
Financial statements, balance sheets, and other financial information are included for already-established businesses. For startups and and new businesses, we will include targets and estimates for the first few years of the business and any potential investors.