Business Plan Procedure

Strategy is about choices: knowing what to do as much as knowing what not to do.

Your strategic plan tells your people what they should be doing so that they don't have to worry about doing the wrong things, or having to go to a manager every time there is a decision to make.

In order to do this, each department (or team) needs to have all the necessary resources for the production process.

Resources you should think about include the following: In addition to the production process, you'll also need to describe in detail your operating process.

Read Why do I need a business plan to find out how writing a business plan can assist your business.

Once you've read Before writing your plan and conducted research into the feasibility of your new business you're ready to write your plan.This will demonstrate to investors that you know exactly how you want your business to run on a day-to-day basis.Items to address include: Creating a timeline with milestones is important for your new business.Make sure you have a good idea on when you would like those key hires to happen; whether it’s after your company hits a certain revenue amount or once a certain project takes off. These milestones act as "checkpoints" for your overall department objectives.For instance, if you want to create a new app by the end of the year, product milestones you outline might include a beta roll out, testing, and various version releases.Below are common milestones new businesses should plan for.When you completed your Management Plan Worksheet in the previous course, you jotted down which key hires you needed right away and which could wait.In this section of your plan, you'll clearly state what your company's operational objective is.Your operational objective is different than your company's overall objective.In the previous course, you outlined your company's strategic plan, which answers questions about your business mission.An operational plan outlines the steps you'll take to complete your business mission.