“Any goal can be accomplished if you break it down into enough small steps.”
The business plan is as essential to business success as a blueprint would be in
the construction of a building. Each of the lessons in this course on marketing,
selling, cost analysis, pricing, break-even analysis and budgeting are ingredients that
go into the final business plan.
The creation of a business plan, and the process of developing it, contributes to clarity
of focus, teamwork, organized effort and profit growth.
The failure to develop a clear, detailed business plan leads to a lack of direction,
inaccuracies, confusion and wasted resources. The business plan is the foundation
document for entrepreneurial success.
In this lesson you will learn how to:
Develop a mission statement for your business
Determine the strategic objectives you must attain
Identify the activities necessary for business success
Create a blueprint for your business plan
Developing Your Business Plan
The business plan is the most important document in
aspect of the business, before you commit time, money and resources to producing
and selling the product or service.
Your business plan is the
that a banker or lender will want to see
before providing you with the money you need.
The most important part of the business plan is that it
to think through all
the critical ingredients that are necessary for you to achieve business success.
The starting point of a business plan is for you to develop a mission
statement for your business.
a)What are your
What do you stand for and believe in?
b)What is your
for your business? What would it look like in five
years if you were successful?
c)What is your
for being in business? Why are you in business at all?
d)Based on the above, what is your
What do you want to accomplish for
yourself and your customers by starting your business?2.
Strategic objectives – these are the goals that you must achieve to build a
level of sales
do you want to reach over the next 1-2-3-4-5 years?
b)What level of
do you want to achieve from these sales?
c)What kind of a
do you want to achieve for your company, and for
your products and services?
d)What kind of a
do you want to build in the years head?
Tactical objectives – these are the activities that you must engage in to
accomplish your strategic objectives.
a)What kind and quality of
products and services
do you intend to produce?
b)What are your
marketing and sales plans
to achieve the revenues that you
c)How will you attract the
you need to build and run your business?
d)How will you attract the necessary
you require for business success?
e)How will you
grow and expand
with new products, into new markets, when your
business is successful?
There are several strategic variables that you must consider in the
development of your business plan.
– you must determine the characteristics, design and mix of
– you must define the specific types and characteristics of the
customers to whom you intend to sell your products and services.
– how will you market and sell your products to your customers?
– how will you distribute and deliver your products and ser-
vices to your customers?
– in what areas are you going to develop superiority or
excellence over your competitors?
– how are you going to charge for your products and services?
– where and how are you going to obtain short-term and long-
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