Presented Investment Casting Institute [ICI] Conference 2007 Amelia Island, Florida by: Rita N. Singh
Having a business plan is the Foundation of a Successful Business. Business Plan creates effective communication of company’s destination to its employees, clients, stakeholders, vendors and financial institutions.
Who should have a business plan? Every business, start-up companies as well as existing companies.
Businesses who want to achieve Long-term Profitability, Growth and Stability, must have a plan in place.
When to do a business plan? Before starting the business and continually updating while we are in business.
Who should be the parties to create the business Plan? Owners, key employees, business professionals who can bring a holistic approach to each component/element of the plan and who have knowledge in Operations Management, Finance, Marketing and Strategic Growth Planning.
Components/Elements of Business Plan:
a) Executive Summary
b) Operations Plan
c) Management Plan
d) Marketing Plan
e) Financial Plan
Implementation of the business plan: Is a very important aspect of the business plan, that you are creating this plan not to just put on the shelf. IT IS A WORK IN PROCESS. Without implementation, the plan is a wastage of resources. Monitoring and measuring the results of the plan is very crucial to the success of the business.
Outcomes of having a business plan: Consider this as your best investment for your business. Business plan creates: New Opportunities, New Product/Service Development, Increased Market Share, Pricing Competitiveness, Niche Creation.
Call on Us: To Achieve extraordinary Business Outcomes with an outstanding, award-winning Business Plan developed for your company by S&A’s pool of exceptional talent.