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The Strategic Plan
The Strategic Plan
The Strategic Plan
The Strategic Plan
The Strategic Plan
The Strategic Plan
The Strategic Plan
The Strategic Plan
The Strategic Plan
The Strategic Plan
The Strategic Plan
The Strategic Plan
The Strategic Plan
The Strategic Plan
The Strategic Plan
The Strategic Plan
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The Strategic Plan

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  • Suggest ways to approach the banker
  • Transcript

    • 1. Effectively Operate and Grow Your Business Strategic Issues
    • 2. Products and Resources
      • Identify the skills and experience needed to effectively manage a business
      • Perform a risk assessment and SWOT analysis of YOUR business
      • Define your product or service and your target customer.
      • Determine the level of financial resources needed for your business and evaluating your cash flow
      • Decide on a legal structure of the business
    • 3. Marketing and Business Plans
      • Determine the process and methods for developing an effective marketing plan
      • Evaluate operating (income) statements and cash flow projections
      • Develop processes for regular checks of your business plan and key operating measurements; identify how to determine operating adjustments
      • Evaluate and revise plans, regularly and as needed
      • Need assistance? www.scoreworks.org ,
      • 513-684-2812
    • 4. Risk Assessment
      • Assess each element as a risk to YOUR business
      • Lack of commitment
      • Lack of vision, purpose, or principles
      • Lack of management systems
      • Poor market definition and strategy
      • Competition
      • Lack of Cash
    • 5. Know Your Business SWOT
          • Strengths: attributes of the organization that are helpful to achieving the objectives.
          • Weaknesses: attributes of the organization that are harmful to achieving the objectives.
          • Opportunities: external conditions that are helpful to achieving the objectives.
          • Threats: external conditions that are harmful to achieving the objectives.
    • 6. SWOT Analysis
    • 7. Typical SWOT Analysis Factors STRENGTHS WEAKNESSES OPPORTUNITIES THREATS Marketing expertise New, innovative product or service Location of business Cost advantage Quality advantage Strong brand/reputation Developing market (China, Online Sales) Mergers, joint ventures, alliances Loosening of regulations Removal of trade barriers Market led by a weak competitor Undifferentiated Product/Service Location of business Superior distribution channel by competitor Quality disadvantage Weak brand/reputation New competitor Price War Tightening of regulations Increased trade barriers Increases in taxes
    • 8. Use of SWOTs: Challenges
      • How can we Use each Strength?
      • How can we Stop each Weakness?
      • How can we Exploit each Opportunity?
      • How can we Defend against each Threat?
    • 9. Target Customers
      • Describe the target individual or group of people on whom you will focus your attention.
      • Who are they?
      • Where are they?
      • What are they buying?
      • From whom?
      • Describe your product or service and the benefit it will provide your customers.
      • Identify your Customers:
      • Retail
      • Business to Business
    • 10. Customer Profile Factors
      • Define your Retail Customer’s Profile:
      • Define your Business to Business Customer’s Profile:
      Industry Size Volume Levels Decision Maker vs. Purchasing Agent Location Other Age Gender Income Levels Ethnicity Homeowner / Renter Location Other
    • 11. Match Characteristics to Customer Wants
      • Define characteristics of your Service or Product:
      • Features
      • Benefits
      • Uniqueness
      • Does it fill a “Niche”?
      • Define your Customer’s wants:
      • Features
      • Benefits
      • Advantages
    • 12. Consider the Competition
      • Compare your Service or Product with your
      • Competition against the same criteria:
      • Features
      • Benefits
      • Uniqueness
      • “ Niche”
      • Does your target customer want your product or service OR your competitor’s?
    • 13. Financial Analysis
        • Prepare a formal Profit and Loss statement each month
        • Prepare a formal Balance Sheet each month
        • Prepare a forecast of income and expenses for the balance of the year
        • Compare the forecast to the budget by line item
        • Make required adjustments to achieve the budget
    • 14. Break-Even Point
      • The break-even point (BEP) is the point at which cost or expenses and revenue are equal
      It can be calculated once fixed costs and variable costs are identified
    • 15. Cash Flow Management
      • Cash Flow is the flow of money coming into and going out from a business.
      • Positive cash flow is when cash flows in faster than it is flowing out.
      • Managing cash flow is a matter of planning:
      • If you don’t start with a plan, you will spend a great deal of time reacting to events instead of anticipating events.
    • 16. The Elevator Pitch
      • Elevator Pitch
      • Someone who does not know your product would understand in the time it takes to ride an elevator up to the second floor (30-45 seconds)
        • State your business concept
        • What is it you do for customers?
        • How does the customer benefit?
        • Who is in your target market?
        • How can prospects be identified?

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