Re the discussions of a "business plan" ...  If we truly get one it may be very instructive .. And give us some guidance going forward...

fyi.. Here is some thoughts on business plans   I recently sent to my students..  only if you have the time and interest..

xxxx here are some rough quick thoughts --- your strategy (strategic plan) includes answers the questionhow we want “to get from here to there”. For example crossing the street.. What is my strategy for crossing the street.  As an old fart I have to wait for the lights and walk straight across… Some far more agile and much younger strategist might decide they will jaywalk or run against the lights to get together side.

In making this decision I scanned my ecosystem externally and I look at what that work with internally.

Externally is a road slippery, cover the snow, traffic coming (competitors).. Internally am I young and agile --- have my or  army boots.. One of the got to work with.. My attributes..

We both have made a plan on getting from here to there. That is the strategy --the action --you will take to get there. Adopt one of Porter's Generic strategies. To see this in closer detail go to the last section where I wrap up the course and set out the waterfall method for you.. Those of the steps you can follow to craft your strategic plan on how you want to get your organization from where it is today to the vision you have for it for tomorrow. It also provides for each goal/objective the action plans as to who was going to do what, by when and milestones for reporting and control.

This is the strategic plan is similar to the 10 Commandments passed down to the different levels within the organization’s … the team takes extracts and prepare their strategic plans for their departments, functions or divisions such as the marketing strategic plan, communication strategic plan etc. all the support and align with the overarching corporate strategic plan.

Key performance indicators, goals, objectives set out guide and to measure success.. Identify the resources needed. Strategic plans are generally in the past for 3 to 5 years.. But in my class I recommend that they be revisited whenever this a significant shift in the ecosystem and certainly be reviewed every six months. Today the ecosystem shift so quickly I don’t think it’s possible to make accurate cash flow projections for 3 to 5 years out.. What would be the interest rate,, what emerging innovation will impact our business and service in this new industrial age.. Not just stuck on a shelf and revisited every 3 to 5 years.

It is from this document that the directing minds make up a business plan.

Often the business plan is required by the banks and other funding agencies.. But not exclusively. But this is a major difference --- the business plan is heavily weighted towards the financials while  strategic plan has very little on this aspect.

Bankers want to know what you do, who were the principals and how we get paid back. Not much different from when you apply for a loan ---who are you, show me your income tax assessment, tell me how you can make the monthly payments.. So you’ll need cash flow projections.. Company financial statements included.. Ratios for you against others in a similar industry.

So business plans will speak to these areas..

·         Generally included as an appendix the executive teams qualifications for running the business.. Demonstrating their specific unique competencies that will contribute to the organization’s success..

·         The plan will discuss from a marketing perspective

·         a good analysis of the ecosystem and the threats..

·         Porter’s five forces.. A smart competitors analysis.

·         What makes your product or service unique-- consider value propositions.

·         In an clue what Donald Trump talks about how big is a huge market.. Billions.. What is your anticipated market share.. Any evidence to support it.. How you communicate the message to achieve the highest possible selling price in the mind of your consumer (Emperor’s new clothes)

Xxx  hope that helps.. A little rough but the message is there.. Delighted to talk sometime you for the clarification.. best terry