
MARKETING, SALES, BUSINESS & MANAGEMENT STRATEGIES

There is a misconception that business plans (BP) are only needed for companies that are looking to raise capital or applying for a loan. Even if you are inheriting a family retail business that has been running for 20 years, and showing an average growth of 18% annually over the last 5 years, you are going to need a plan. Business plans are a great tool for a company to keep itself humble in the market. Make a plan and watch it grow, adjust and adapt to current industry and economic fluctuations. When you have a plan you always have something to fall back on, to apply current strategies too and to keep you and your staff moving towards an end goal. (Notes on a bar napkin doesn’t count as a BP)
If you are developing a BP to raise capital it can be a long strategic process. First thing you MUST think about is…who is my target demographic, whom will I be presenting this information to? Is your plan being developed for a bank, for an investor or an investor group, for an IPO and a head hunter? Who is/are the decision maker(s)? What is important to this particular person(s) when it comes to choosing to invest? You have to put yourself in a salesperson position. Your product is your company and BP. Your target is the decision maker(s).
If you have ever had the opportunity to read a successful BP (used to raise capital) you will notice that there is some information that will repeat itself all throughout the plan…there is a strategy behind this tactic. Research is key:
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Why and how do you stand out among your industry?
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Who is your customer and why buy?
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Budgets and financial game plans
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Exit strategy
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Marketing plans
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Team and team history
…and we’re just getting warmed up.
Business Plans
