How to Successfully Conduct a Business Planning and Strategy Session in Westerville & Columbus, Ohio
A strategic business plan is far more than simply a means of getting financing. We can help you put together a strategic plan to enable your business to develop your business concepts, ideas, and plans. A strategic plan can also make sure that your team and you understand all the same things to keep everyone focused. Bale & Associates is here to help you make your plans into a solid business structure that you can execute with success!
Strategic plans are often the most useful when you are:
• Beginning a new company or launching a new product or service
• Expanding your business
• Purchasing a business from someone else
• Attempting to revive a flagging business
Strategic business plans can give you a detailed blueprint. This “blueprint” should describe your company, what kind of products it sells, what the competition is like, who your management team is, what the overall financial health of the business is like, and what kinds of risks your business may face. Basically, in business this is known as your SWOT – Strengths, Weaknesses, Opportunities and Threats.
Strategic Business Plans Allow You To…
1.) Have a better idea of your target demographics and better describe the features and benefits of the new company, item, or service that’s being launched.
2.) Establish the fact that your plan is worthwhile and possible, since you’ve researched everything that needs to be known.
3.) Create plans related to marketing. This should likely include complete descriptions of what kind of advertising campaigns are expected to work the best for your business or new product, and when you’ll be rolling them out, and your budget, as well as financing. At this stage, you’ll probably also want to go over market conditions and user or client demographics. Finally, it’s important to get a handle on the status of your competition, what kind of potential for sales your new business or product is capable of, and your expected return on investment (ROI) for your advertising campaigns.
4.) Create plans related to employees and management. Consider what kinds of skills or personalities these individuals would likely need to have to benefit your company.
5.) Establish a firm idea regarding how the business will be managed (either by you or someone else).
6.) Consider the first 3-5 years of the new business, product, or service, and consider what kinds of costs and revenue are likely to be expected.
7.) Identify any other companies you may need to work with, such as for equipment or materials.
8.) Establish “milestones” for your company to reach within certain deadlines.
Bale & Associates, can participate in assisting your efforts to achieve your business goals, and work with you in recognizing your SWOT as you develop your strategic plans to implement your business goals. We can also participate in implementing your goals, as your General Counsel, by staying familiar with the business work that you are doing, your future plans, and your team.