3 outline business plan
ensuring the growth trajectory
If your business is to grow, you need to make a plan. It helps to have a set of business goals and objectives. And development of an outline business plan will show the timing of the key events and scale of any funding needed
Month by month the focus for most Owners and Managers is on making the headline numbers; simply "filling the fridge and sleeping at night"!
Sometimes this short term focus means that the longer term trends over time simply get over looked. If the market or technology changes and the business does not recognise or adapt to such developments, chances are the business will suffer.
To ensure the business's growth trajectory opportunities need to be researched, quantified and evaluated. And a robust plan developed that Management can buy into.
The outline business plan will set out the longer term business goals:
- 3 - 5 year strategic growth objectives
- 1 - 2 year functional team SMART objectives
- product and technology offerings
- on the ground sales and marketing tactics
- resource needs: people, capex, working capital
- funding requirements
- partnership objectives
to deliver sustainable growth in sales, profit and cash.
With new work processes introduced, we soon had the core business back under control with all known problems "on the table". My foucus shifted to developing with the Management Team an outline business plan for the longer term sustainability of the business. The market for its core products was in a period of great volatility and decline. That required some re-alignment of resources and a focus on after sales and service to grow sales.
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