Write the Business Plan
Create a strategic business plan to drive the business forward.
It is like having a business flight plan.
Business strategy is rarely so obvious that no further investigation is necessary. And even if it were so obvious, then a review of the external forces acting on the business should still be carried out to satisfy the SLT that the way ahead.
To know more about what business strategy is, click on this link.
1. Where is the business now
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- How did it get here – what are the important legacy events that shaped the business growth
- What is the culture – the way they do things now
- Get the numbers – have detailed and accurate financial and sales data
- Who are the key players in the team – how committed are they to the business strategy
- Competitive analysis – who are the main players and what is their business strategy
- Conduct an external analysis – have a look at what is happening outside the business that could impact the business strategy
- Conduct a SWOT analysis. Set a day or half day to work through the headings. Invite as many as possible and as few as necessary as this is the start of creating buy in from the teams:
Strengths – what are they good at
Weaknesses – what do they need to strengthen to achieve the business strategic goals
Opportunities – what is happening that could positively impact on the business strategy
Threats – what could blow the business strategy off course
2. Where is the business heading
What is the headline objective – the one single goal for the next 12 months. Break it down into individual goals and objectives for each business subsection by department:
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- Finance
- Sales
- Marketing
- HR
- Operations
- Sales support
- Quality assurance and control
- Compliance
- IT
3. How will we get to your destination
Write the strategic business plan – Set out what each business unit will do to hit the main business goals and also its own business objectives
Define the resources needed
Need help
If you need help with setting your business strategy then call us on 0117 230 3166 or email us on enquiries@businesscopilot.co.uk and we will get back to you.
