The 6 Step Business Plan
Business Plan What is a b usiness plan? Ans: A statement of your business objectives and your plan for achieving them. Why do a business plan? Create a blueprint for growth • Align the organization • Increase the odds of success • Raise money • Track your progress, adjust Business Plan by 6 steps Analyze your Market and your Business Define your Marketing Positioning Define 3-year Sales & Earnings goals • Flex the Profit & Loss goals by month Create a current year Action Plan (top 5 priorities) Create a current year Profit & Loss Statement (P&L) Crete a current year Cash Flow projection (monthly) Market Analysis Know Your Market/Customer Market size, growth, segments • Key purchase drivers – Quality, cost, service • Demographics • Competitors • Distribution channels • Average Profit Margins • Seasonality, regionality • Key marketing drivers. Data Sources Internet - Industry - Competit...