Strategic Business Panning 

You have worked so hard to get your business off the ground and now it has solid foundations and strong day to day processes. Now you want to embark on a process of growth, making sure you have greater market presence and share as well as profitable revenue. 

So what next? Brush off or develop a business plan for growth. A business plan fundamentally shows all interested parties – employees, investors, partners and yourself – that you are committed to building the business. 

“Going into business without a business plan is like going on a mountain trek without a map or GPS support – you’ll eventually get lost and starve!” 

― Kevin J. Donaldson 

 In addition there are many other benefits to the business planning process: 

Unfortunately, you cannot do everything, so an early part of the business planning process is to establish what key priorities are going to drive the highest return short, medium and long term. It should also lay out milestones and metrics that are most important to the success of your business and what you will track to measure that success. 

Creation of the business plan will include a SWOT analysis. This will assist in understanding who your direct and indirect competitors are and understanding what your competitive differentiation is, or will be, in the marketplace. 

Understanding all the interactions that a client has with your brand over the lifetime of their relationship with you. It includes the feelings, emotions, and perceptions of those interactions along the way. A delighted client become advocates for your business and are the best sales team you will ever have. You can read more about Client Journey Experience (CJX) Services in our services section. 

The business plan process will evaluate target market, competitive landscape, market opportunity etc so will serve as a great study to assess the viability of your growth priorities and help you fully understand your marketplace. 

This will align the entire organisation to the objectives documented in the plan in terms of revenue and margin growth expectations. It will also help address challenges and assumptions associated with the model. 

Do you need to raise capital to achieve your growth objectives? How much? A sound business plan is essential for raising capital for business and for effectively employing the capital.

A business plan is essential to attract top talent. It inspires employees and management that the company has a sound business plan for growth and poised to achieve its strategic goals. 

Creating the business plan helps to define your company’s purpose. How does your product/service make a genuine difference in the lives of your clients? What pain, inconvenience or friction are you removing? What benefits are you driving? How is your company perceived? Remember an excellent product/service is a given and it is CJX that carries a premium. 

Having a business plan in place enables you to quickly reassess your current financial and operational models. You can rewrite your business plan to define, try and validate new ideas and strategies. 

How are you retaining your current clients? Are they advocates for you, thereby selling your capabilities to potential new ones. What are your key marketing strategies for retention and growth? 

As part of the business planning process, you may identify critical roles that need to be established to achieve your growth objectives. It may be that you have to refocus the current staff in critical functions to support your business plan. 

Through the process, white boarding and creative interviewing will likely see your business in a totally different light. As a result, you may often come up with new ideas for marketing your product/service and running your business. New revenue streams may be identified or new go to market strategies. 

 

We would be happy to discuss any aspect of your business requirements and how we can help.

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