Many people with a business idea do not have a clue about all of the things that need to be considered, where to find the data they need, or how to articulate their plan. A business plan serves two groups: those inside the organization who need to know what is expected of them and where the company is headed, and those outside such as investors, bankers and attorneys so that they can also help the company accomplish its mission.
Every business plan addresses some basic issues. These issues are the same irrespective of the firm, the nature of its business, its size, and the intended uses of the business plan. The issues can be organized into five major strategies of the firm:
- Market strategy
- Production/service strategy
- Research and development strategy
- Organization and management strategy
- Financial strategy
A description of each of these strategies comprises the major components of any complete business plan. These five strategies define the areas in which management has to make future-oriented decisions as part of an effective business planning process. Each strategy is highly interrelated with the other strategies, and it is critical to the success of a business plan that each strategy be consistent with the other strategies.
Contact the LEAF Team at 678.233.4607 for more information about how we may assist you in your new adventure.