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| Jul 18, 2007 12:11 pm |
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A business plan |
Mike Fesler BizHarmony
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I have always used this saying for Business planning with any company that I’m involved with.
Today's entrepreneur must be a business architect.
For If you are going to build anything in today's business environment you must have a step-by-step blueprint or plan, on how to achieve success.
I would never consider thinking about a new venture with out a Strategic SWOT in place before doing the business plan.
You must first distinguish your target if you will, as to who will be using and reading the plan.
As they are a living instrument.
I have scheduled to review the plans on every one of the companies that I am involved with, and collectively make revisions at least 4 times per year, or more on troubled areas.
Some of the companies have 2 different plans.
And yes I do have 3 plans for my company as well!!
Not all plans are the same!!
There are 7 different types of business plans
There is a mistaken perspective that there is basically one type of business plan. In fact, there are as many as 7 different variations.
Each type of plan has one thing in common — it must motivate the intended target to move towards the desired outcome.
The targeted audience dictates the type of plan that should be written and any special inclusions.
BUSINESS PLAN AUDIENCE TARGETING
These are broken down to the following categories
Audience / Issues to emphasize / Issues to de-emphasize /Length
Banker / Cash flow, assets, solid growth / Fast growth, hot market / 10-20 pp.
Investor / Fast growth, potential large market, management team / Assets /20-40 pp.
Strategic Partner / Synergy, proprietary products / Sales force, assets /20-40 pp.
Large customer / Stability, service / Fast growth, hot market / 20-40 pp
Key employees / Security, opportunity / Technology / 20-40 pp.
Merger/Acquisition / Past accomplishments / Future outlook / 20-40 pp
Management team / “How to" action steps, teamwork, empowerment, achieve potential / Potential futility, ultimatum / 25-50 pp
The process of planning is perhaps more beneficial then the resultant plan. The camaraderie, analyses and conclusions, collaboration of different perspectives and the commitment of all participants to the plans successful implementation and achievement is the fuel that propels many company’s to the forefront of their industry group. Most companies benefit from these teamwork and empowerment attributes – important components for exceptional success. Proactive forward thinking companies also perform planning to facilitate continuing improvement initiatives to stay abreast of market trends, customer needs and enhance operational efficiency – increased productivity, cost reduction.
Business Planning For Enhancements
These are broken down to the following categories
Problem or Need / Provision or Objective
Company chaos, lost sense of direction; partner or middle manager conflict / Establishes common mission, purpose, direction and overcomes interpersonal conflict; stabilize company
Boss/top management makes decisions; coercive—autocratic management culture / Facilitates participatory management, teambuilding, initial culture change: re-energize people toward common goal
Business crises; company floundering; diminished profits, customer attrition / Re-focus market/customer wants, realign operations efficiently, find cash, attack market w/confidence
Succession and / or continuance of family business; maximize sales price for company / Find, integrate successor by deliberate plan to maximum sales price or assure profit enhancing continuity
Limited growth; growth not commensurate with industry group; need improved productivity / Find, plan to capture growth opportunities; know capital needs/risks; solve problems and mobilize resources
A company’s growth and long-term success does not happen by chance. It is a result of vision, clear direction and deliberate step-by-step design. The planning process promotes these success enhancing attributes.
Hope this helps!!
M.
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