16 October 2013 category: strategy & business planning
A business strategy should be brief and to the point. The whole purpose of it is to give you the opportunity to set the overall direction of your business. This means that you need to be able to see the wood for the trees, so the last thing you need is a lot of detail.
A business plan, however, is a good place to think through some of the detail of your strategy and check that it is feasible. Although brevity is always the favoured option when it comes to managing a business you should not shy away from fleshing out some of the detail in your business plan.
A business plan is necessary whether you are a start-up business or an established business, although the reasons for producing them are different.
You should produce a business plan because it is USEFUL, not because you think it is a task that you MUST perform.
The reasons for producing a business plan are varied; from raising finance to testing your ideas on paper or motivating the people in your business. It is vital that you identify the reason for producing your business plan before you start so that it will produce real benefits and save you a lot of time.
Produce a business plan that helps you deliver your strategy with the Business Transformation Toolkit
Section 01 includes the following:
- What is a business plan?
- The two main types of business plan.
- Eleven reasons for producing a business plan.
- Raising finance through a business plan.
- Three key reasons for updating your business plan if you are an established business.
- The six key attributes of a good business plan.
- The five common mistakes that people make when producing a business plan.
- The eleven sections of a typical business plan.
For details, go to www.stayoutfront.com/toolkit