How To Make A Small Business Plan? Strategic Planning

The Best Business Podcast With Daryl Urbanski

How To Make A Small Business Plan? Strategic Planning

See 1 of 100 New Videos on this topic & more.

In fact, our research specifically proves 8 Critical Success Factors for small & medium-sized businesses.

Visit www.BestBusinessCoach.ca for more info.

Or https://www.members.bestbusinesscoach.ca/success-research/ for more on the research behind it.

Transcript:

Traditional business plans use some combination of these 9 sections:
1. Executive Summary.
- Brief description of what a company is, the plan & why will it be successful?
2. More Detailed Company Description.
3. Market Analysis.
4. Organization & Management Plan.
5. Service/Product Line.
6. Marketing & Sales Plan.
7. Funding Request.
8. Financial Projections.
9. Appendix/Conclusion.

On top of that, make sure you cover the:
Situation analysis.
The market positioning, marketing objectives & your strategy.

I've spent over $50,000 dollars to have the body of research reviewed.
To find what makes the difference for small & medium-sized businesses.
We found there are 8 Critical Success Factors for small & medium-sized businesses.

1. Self-Efficacy.
2. Strategic Planning.
3. Market Intelligence.
4. Marketing Strategy.
5. Sales Strategy & Skills.
6. Money Management.
7. Business Operations.
8. Business Intelligence.

These are 8 things I think belong in your plan because each is critical.
I'll give you have a brief overview of them now.
But go to BestBusinessCoach.ca for more info on them.

1. Self Efficacy.
Is about personal effectiveness.
It's the ability to wake up, plan your time & manage yourself to get things done.
It's the ability to articulate your vision & goals.
To work well with others.
This factor is important as it matters to you.
Plus everyone in your company.
When the people in your company are not being effective.
They will not be as productive as they could be.
This results in less than optimal performance.
Self-efficacy is the pillar everything stands on.
Because if the people in your company aren't getting anything done...
You're not going anywhere.

2. Strategic Planning.
This is important.
For example, No one is selling pet rocks anymore.
But once upon a time, they were a trend.
It was an easy thing to sell.
There were a lot of knock-offs.
But it was a trend and then disappeared.
A strategic plan makes sure there's longevity in what you're doing.
It makes sure what you're going to offer is not redundant.
Or not about to be redundant.
A strategic plan ensures you are jumping in a swimming pool with water.
It'd surprise you how many people start businesses doomed to fail.
Like jumping into a pool with no water.
They did not check first.

3. Market Intelligence.
This knowing who the competitors are.
What other options are available for consumers.
What do consumers like/dislike?
What do consumers want?
What are the problems the existing products solve?
Or
What problems are not getting solved?
All this know-how comes into market intelligence.

4. Marketing Strategy.
A way to communicate with people.
Where are they?
How will you approach them?
How will you get their attention?
Indicate who's interested or not?
How are going to find them?
What does someone interested do?
Where do you hand off to the sales team?
What's the marketing strategy?
Is there a process?
How are going to share your message with the world?

5. Sales Strategy & Skills.
These are similar. Sales Skills + Sales Strategy.
If you have the wron

Support the show