Format Of Writing A Business Plan

Format Of Writing A Business Plan-58
Section 10: Marketing Plan In addition to your strategic plan, I recommend you develop a comprehensive marketing plan describing how you will attract prospects, convert them to paying customers and maximize your lifetime customer value.Include a summary of your marketing plan in your strategic plan.

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Section 11: Team The team section of your strategic plan ensures you have the human resources to execute on the opportunities you’ve identified and to achieve the goals you established in section 5 of your plan.

Here you should list your current team members and identify the types of people you need to hire in the next year to achieve your goals.

Then work backwards two more times to determine your goals for the next quarter and the next month.

Ideally you update you strategic plan monthly to modify this section.

Finally, you’ll map out each of your initiatives, ideally in a Gantt chart, so you know when each project will start and who will lead them.

Section 13: Financial Projections The final section of your strategic plan is your financial projections. First, you can use a financial model to assess the potential results for each opportunity you consider pursuing.However, you should conduct an analysis to ensure the market size is growing (if not, you might want to diversify), and to help identify new opportunities for growth.Section 9: Competitive Analysis & Advantage Similarly to your industry analysis, your competitive analysis doesn’t have to be a thorough report listing every detail about every competitor.Section 12: Operations Plan Your operations plan helps you transform your goals and opportunities into reality.In this section of your plan, you will identify each of the individual projects that comprise your larger goals and how these projects will be completed.Section 6: Key Performance Indicators (KPIs) Great businesses understand their metrics and KPIs.By tracking your KPIs, you know exactly how your business is performing and can adjust as needed.For example, a basic KPI such as Total Sales is critical for understanding if the company is performing well. For example, if sales are affected by 1) number of visitors to your website, 2) number of visitors who complete a contact form, 3) number of proposals you issue to these leads, and 4) the proposal closing ratio, then each of these KPIs should be tracked.Then, if for instance, the number of visitors to your website decreased, you would know and fix this immediately, rather then waiting until sales plummet later.Section 1: Executive Summary The Executive Summary of your strategic plan should be completed last, and this section merely summarizes each of the other sections of your plan.The Executive Summary is important since it will help other key constituents, such as employees, advisors, and investors, quickly understand and support your plan.

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