Strategic Business Plans
- Parent Category: Financial Consulting Services
- Published: Tuesday, 08 January 2013 18:41
A professional, detailed Strategic Business Plan is absolutely essential to any small business. Many entrepreneurs make the mistake of starting their small business without a formal business plan, severely handicapping their business. However, it is important to note that a vague or poorly thought out business plan is as bad as no plan at all. A strategic business plan needs to be as detailed as possible to be effective. A strategic plan should be able to serve as a road map leading from your vision to the success of your venture. The Wall Street Organization, Inc. has over 15 years of experience in guiding small business owners to produce quality, comprehensive business plans. Our expertise can help you generate a business plan which perfectly suits the needs of your organization.
What is a Strategic Business Plan?
Generally, a Strategic Business Plan is a step by step guide, created by a business or organization, which defines the goals of the organization and then maps out how it will reach those goals. It also serves to set a foundation so that the entire company knows what will happen and what is expected of them. Essentially, it provides a "recipe" of how to achieve a stated vision, for the chosen target market, and how a company serves customers consistently, effectively and profitably every single time.
The plan also serves as a systematic, management tool for problem solving, market planning, and product development.The goal is to integrate all aspects of the business's activities in a mutually supportive system.
Five Elements of a Strategic Business Plan
Mission Statement - The goal of the business.
Executive Summary - A synopsis of who the company is, what it plans to do, where it plans to do it, how it plans to do it, and why it plans to do it.
Management - Backgrounds on the key managers of the company.
Market Analysis - Should demonstrate the demand for the company's product or service.
Product or Service Analysis - Defines what differentiates the company from its competitors - what can it do better than the rest and why.
Pro Forma Financial Projections - Should outline the company's planned outlay of expenses, as well as projected revenues.