What is a Strategic Business Plan?
A Strategic Business Plan is much more than a tool to obtain financing. If you still have all your plans and ideas locked up inside your head, preparing a strategic plan helps you clarify your company’s direction, ensures your key leaders are all “on the same page”, and keeps both management and staff focused on the tasks at hand.
A Strategic Plan is often needed when…
- Starting a new venture, product, or service
- Expanding a current organization, product, or service
- Buying a new business, product, or service
- Turning around a declining business
The Strategic Plan provides a blueprint, describing your company, its products, the competitive environment, management team, financial health, and business risks.