How to Develop a Business Plan : How to Develop a Business Plan “If you don’t know where you’re going, you may end up going somewhere else.”
-Casey Stengel
Why Business Plan ? : Why Business Plan ? “No one can tell you the future of your
business. But a solid plan will prepare your
business for the future.”
How to develop Business Plan ? : How to develop Business Plan ? Business plan is not about a simple action plan of your Business , but it is the action plan which your Business will do in reference to competitors action plan.
That’s why it is a Strategic document not an operational document , though there are number of people, who think on the other way.
The Nature of Business plan : The Nature of Business plan It is a cohesive document which gives the grand strategy of the Business, and also the functional strategies in reference to different operational units of your Business.
Step 1 : Develop Grand Strategy : Step 1 : Develop Grand Strategy To develop Grand Strategy ask following question
What is the Core competency of me and my team ?
How that core competency can be converted to Sustainable competitive advantage in addressing a need.
Step II :To Develop Functional Strategy : Step II :To Develop Functional Strategy Ask Following Questions
How that sustainable competitive advantage could be transmitted into different function domain.
Marketing , Finance , Human Resource and Operation .
Step III : Validate it : Step III : Validate it In the Next step Validate the Grand strategy and strategies for different functional domains through datas from primary and secondary sources.