Level 3 Skill Set Training – Make Your Strategic Business Plan
A good business plan spells out who a company is, what it does, how it does it, and where it is going. A business plan is used to initially start a business, obtain funding, or direct operations.
A business plan and a strategic plan have distinct differences. Everyone’s goals are different so the more complex a business is the more complex the strategic business plan has to be. A strategic plan is a must to take a business to the next level.
A business has to know its purpose before they can put together a strategic business plan. A strategic plan is futuristic in nature and is used to provide focus, direction, and outlines actions in order to move the organization from where they are now to where they want to go to fulfill their financial goals and/or purpose. A strategic business plan will use a combination of marketing technologies and techniques that works best for any situation in the present as well as unforeseen changes the marketplace may have in the future.
Strategic planning is a tool that is useful for guiding day-to-day decisions, outlining measureable goals, and also for evaluating progress and changing approaches when moving forward. Without a strategic plan businesses will not be able to identify setbacks and address diversity so they are more likely to quit and fail. There are millions of new businesses starting every year and millions of businesses that fail every year.
A strategic plan will keep a business on the right path and right focus whether it is for a homebased business, traditional business, store front business, catalog business, internet business, or multi-level business. For a business to succeed they need to surround themselves with the right people, have the right resources and cash flow, and the right game plan.
By having different strategies a business will increase its chances for accomplishing their goals and being successful. A strategic business plan will give options helping the company to adapt in changing times and overcome obstacles. Without the right strategic plan, an individual or business will have a much lower chance to get to where they want to be.
It takes determination and understanding to make a strategic plan and execute the plan. A strategic plan is an in depth study of a company’s options and why things need to be done in certain ways and at certain times. If a business does things in a wrong approach or at the wrong time their success can be greatly diminished.
Defining a company’s mission, specific goals, and planned objectives are just as important aspects to the process of strategic planning as are the results. Strategic planning is a review and planning process that is undertaken to make thoughtful decisions about an organization’s future in order to ensure its success and avoid unanticipated risks. It requires a well-thought out plan for how to properly allocate time, human capital, and financial resources.
A strategic plan is careful to examine the company’s strengths, weaknesses, and opportunities to be able to set long-term objectives and formulate short-term tactics in order to be more aggressive in the marketplace so the company can reach their full potential in the shortest amount of time.
A Special Niche
A business must have a special niche in the marketplace and must be constantly looking for ways to create something more, something new, or something better than what currently exists. Consumers are no longer impressed with any one new feature or service for very long unless their needs are being met.
Change happens quickly in social marketing so a business needs to know what their niche is and why they do what they do. How can a business position itself in this hyper-competitive social environment? It is by knowing who their customers are, what they want, and what their deepest needs are.
Have you ever seen a business that has dominated the market? It is because they add more value to their customers than other businesses and have learned how to tell their business story in such a way that compels prospective customers to buy their products or services.
Once a business really understands how to consistently offer more value than anyone else within their market, they are in a better position to identify where they are now, and what it will take to get to where they want to be.
Whether your business is cause driven or a mom and pop business you have a unique niche. You just need to identify your niche, focus on it, then make it social so that the masses can understand it and participate with you. When you do that you can reach your income goals and fulfill your purpose.
Times Have Changed
A business will no doubt have to adapt their plan to changes in the marketplace so a company has to remain flexible, open minded, and think outside the box. Most traditional ways are not working in today’s social market so adapting to change is necessary. New technology is happening at a fast pace and therefore demands that it is kept up with especially what is new in your field of interest.
Changing with the times is a constant skillset that has to constantly be addressed. Changing and adapting is a lifelong process in business. There is always a better, smarter and efficient way to do things. A strategic business plan can always be changed and be made better.
Branding Your Business
Branding has changed over the years and today it is not what you sell or what you do. It is all about who you are and what you stand for. More than ever before people do not want to go to work just to earn a paycheck. Today people want purpose in their life; they want to believe in something; they want to feel as though they are a part of something bigger than themselves.
A brand is no longer a logo or an advertisement or a poster or a song. It is a gut feeling about a company. It is when everything about a company connects through design and people recognize when there is something special about a company and want to be a part of it.
There are two very important questions a company should ask to develop a new brand strategy and they are:
- Who are you?
- Why do you matter?
Those are tough questions to answer but they need to be understood and answered to be able to build connections to your audience with an integrated, holistic approach which will ultimately create a stronger, more meaningful brand.
How Big Do You Want To Be
Depending on how much money you want to make will depend on what you have to do and how much market penetration you will have locally and whether you will need to branch out into your state and beyond. By going nationwide or international will increase your income potential.
Marketing at its best will get you to your goals so you will need to define your goals in such a way a strategic plan will fit your goals. If you are not honest with your goals then likely no marketing company can get you to what you want to accomplish. The bigger the goals, the bigger the strategy has to be.
Depending on your business of course there will be a lot of different aspects to your strategic business plan. You will need to train your people, hire managers, hire manufactures, provide customer service, have ways of getting product delivered, and fulfillment, etc.
We are here to help you be all that you want to be. There is typically a charge for a business plan and even more so for a strategic business plan. For those that use our products and services we will do a strategic business plan for free, however there is a charge for individuals or businesses that do not use our products and services.
For Questions Call Or Text Dr. Theodis Gamet @ 206-354-1523.
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