The world is undergoing rapid technological change, with markets increasingly gaining global reach. In order to adapt the business to the environment of the future, a company needs strategic planning and a business plan.
Creating a business plan is the process of answering the key business questions:
- How will the business work?
- What is the target market?
- What value will the business create for consumers?
- How well does the business compete with similar businesses?
- What is the business profit model and potential?
- What resources are needed to perform daily functions?
Although most entrepreneurs consider the business plan to be one of the most important factors for business success, a significant number of companies have not clearly formulated – nor indeed written – strategic goals and a plan, and for the most part strategic goals remain the domain only of managers, never reaching the employees.
A business plan helps a company to:
- Set goals and priorities.
- Concentrate energy and resources in the right direction.
- Ensure that managers pursue common goals along with employees.
- Agree on the evaluation of targets to be achieved.
- Evaluate and adjust the direction of the company’s business in response to the changing environment.
An effective business plan enables managers to perceive not only the direction in which the company is moving, and the actions needed to ensure its growth, but also to see whether the growth is successful.
A clear and effective business plan makes it easier to attract investors, acquire a new business partner, get a loan for an investment project or credit for funding the working capital.
We work with clients at all stages of business plan development.