|
|
|
|
StrategicPlanning360.com - Strategic Planning Information At Your Fingertips... |
|
|
 |
|
Business Plan Long Term Goals
Writing a business plan is not an easy endeavor, nor is predicting the future. You will need to spent adequate time in preparing your long-term goals and objectives. This will help you understand what you are doing and where you wish to be. Martin Luther King in is most famous speech said; "I have a dream" which is noble indeed, but had he had a "Strategic Plan" with quarterly objectives he may have seen that dream come true in his lifetime. In preparing your Long Term Goals and Objectives for your business plan you will need to communicate this to the investor, banker or your partners. It also helps you stay on course and keep your plan strategic rather than merely a dream. Below I have provided you with a sample "long term goal" section for a business plan so you can see how best to do this. This sample was written from the perspective of a franchisee of a mobile car wash business, a very simple business indeed, yet it will help you sort thru all your own objectives to determine what is best for the future or your next entrepreneurial endeavor. Please feel free to print this and make notes in the margin and then prepare some paragraphs for your own business. This will help you verbalize your plan when talking to investors and assist you in writing your business plan. Think on this. - - - - - - - - - - - - - - - - - - - - - - Long Term Goals Our long-term goal is to expand our service achieving a 10% market penetration and operate ten mobile car wash trucks in our exclusive territory. We also plan to renew our Franchise Agreement for two terms. At the end of five years we plan to operate these trucks without physically doing the labor. We will occasionally wash cars, attend community events and fundraisers. We will at that point be providing more of a managerial role. After the second renewal in ten years, we plan to have a general manager running our company, go into semi-retirement and possibly do a little traveling. "Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
 Strategic Planning News for Monday, Feb 6, 2012...
Google News |
|
|
|
RELATED ARTICLES
Expanding your business in a franchise system If you are a successful franchise of a large franchise brand or chain, chances are you will wish to expand. The most important thing to do is make sure you are on the most positive terms with your franchisor. You should tell your franchisor at the earliest point of your plan to expand. It is important that you ask the franchisor for help when you are expanding. Growing your business is not an easy task. It requires systematic checks of your business. The kind of checks your car does electronically such as sensors telling you: Business Plans Keep You On The Success Course Where would your business be without a proper plan? A business plan sets the direction for the future of the business. It gives the business owner or manager a sense of guidance, listing the goals and objectives of the business from the start. ERP Role in Selling Your Mid-size Business - Microsoft Great Plains and CRM Example If you own the mid-size business and actively work in it as executive manager or lead, say marketing, you probably know exactly what needs to be done on the daily basis to keep it running. However, in many cases this business critical knowledge exists in your head only. This means that if you would like to sell your business, it has little value without your participation. So, ahead of the selling time you should "formalize" the business, to make it work within the systems and rules, independent of people. Let's consider the parts we will need. Attributes of Companies You Don't Want to Buy! There are no "rules of thumb" in the pursuit of companies to buy. Each purchase opportunity has to stand on its own merits. There are, however, attributes of acquisition candidates that need to be defined for what they really are before additional, limited resources are put at risk in a potential deal. It is absolutely critical for any proactive business buyer to understand, consider and deal with specific business characteristics that add unnecessary financial risk to the investment opportunity at hand. Business Plan Financial Projections: Stop Worrying About Being Right... Business plan financial projections seem daunting because they are so uncertain. This very uncertainty, however, is what makes preparing them easy because you can't possibly be right. You can't predict the future. None of us can. All you can be is competent in the way you prepare your business plan projections. Completing the Annual Planning Process Imagine an office without a desk, or lights, a computer, or even something as simple as a chair. When the architects and designers started planning a building or office space they knew they would have to make concessions for these items during each of the building activities. As marketers, we take part in many activities, much like a builder or designer does. 3 Undercover Ways to Make Big Profits from Your Competition You have heard that there is extra money on the table marketing products related to yours. You have also heard that your direct competitors product is off the table. How unfortunate. Wouldn't it be nice to be able to profit from the hard work, expertise and quality of your competitions product? Hunters and Gatherers - Are You Serving Both Their Needs? The University of Exeter in the United Kingdom recently published research financed by Barclays Bank, which has implications for everyone who is serving the general population. How to Develop a Successful Board of Advisors (...and Why You Should!) In today's rapidly changing and highly competitive markets, many privately held companies are creating outside advisory boards to give owners and CEOs fresh, knowledgeable advice. Even for small businesses, setting up an advisory board can give you a significant advantage over competitors that are relying solely on internal talent. An experienced and well-connected board of advisors can help your business grow and prosper in ways you've never imagined. What is a Board of Advisors? How Good Is a Business Plan To Your Business? You know you need a business plan. You probably realize that it is one of the best ways to get your business up and running. No matter what your business is, a business plan can help to focus its direction while providing the information you need to get moving. The most important thing a business plan will do is to provide your financial backers with a reason to give you their approval. It will show them how you plan to work your business. For Business Owners Only - You Can't Be Fired But Neither Can You Quit The decision to sell, or not to sell your business is a difficult one. There are many questions that need to be answered before an informed decision can be made. Is selling your best alternative? Will one of the kids want to take over the business? Timing is everything. Is now the right time? You do not have to sell or decide right now. You are quite busy so maybe you will look into it after. . . 2 Simple Steps Before Starting Your Business There is so much small business information available today that it's easy to be bogged down by the sheer volume of it all. Where does one start? Well, it's safe to say not all the information you'll receive will be of equal value. So it's important to be discerning when you're thinking about applying any suggestions to your new business. In many cases, you'll find some suggestions don't match your business type, management style, budget, or industry. This could lead to wasted dollars spent and time lost. So learning how to research and compile information will be key in developing a plan that is tailored to fit your business needs. Six Key Areas For Evaluating A Strategic Alliance Strategic alliances are increasing at a rapid rate. It is good for business, good for the consumer. A strategic alliance is similar to a joint venture. Everyone remains in his or her own entity, yet come together for a single purpose or period of time to create something that could not otherwise be created. Cost-cutting Essential to Maintaining Profits Why cut costs now? Efforts are multiplying to cut costs wherever possible in order to achieve or preserve high profits. The resulting benefits for all of a company's employees should be obvious. Questions to Ask Yourself When Starting a New Home Business I love the excitement of starting up a new home based business. I enjoy trying out new ideas and approaches with the new venture. I dream the big dreams and hope to obtain some of them (if not all of them). I am sure you have those same feelings as well. Organization is imperative when starting any business. Some say that a well funded business has the best chance to sustain losses until it's profitable. However, if you are on a shoe string budget like me, money management is the key. Writing a Business Plan for Success in Business and for Funding Writing a business plan to help you direct and manage your company is a key part of starting you new company that will help lead you and your company to success. Creating a "living and breathing" business plan makes that success even easier to reach. Many people feel that the sole purpose of a business plan is to get funding, and write a plan that is targeted to that audience. This plan should be considered a piece of you Fund quest documentation, but should not necessarily be edited to meet each funding source. How to Snuff Out the Competition Without Leaving a Mark Does the competition drive you crazy? During the election we heard about Ohio's Economy Much of what we heard in the mass media about Ohio and the down and out economy was the fiction of spin-doctors of politics who wanted to oust the current sitting President. On further review and first hand observation and experience Cincinnati has people moving in and economic expansion. It is in a good spot with decent quality of life, plenty of jobs and an expanding set of suburbs. Just cross the river into KY and you get a glimpse of the reality. Legal Strategies in Business Plans Writing a Business Plan these days is tough, venture capitalists are busy and there are so many ideas to choose from. Bankers want a tight, sweet and to the point business plan. Family Members who may lend you money are generally worrisome due to lawsuits and liability. This is why you need to pay particular attention to the Legal Section of your Business Plan. Microsoft Great Plains in Advertising & Publishing ? implementation highlights Microsoft Great Plains, former Great Plains Dynamics is excellent fit for service oriented business and in this small article we'll give you magazine publisher and advertiser implementation and reporting scenarios. The system we describe is not real, we are putting together industry specifics, based on our consulting practice. In the case if you do not see some unique features of your publishing business, this just means that publishing industry is diversified and say, regional newspaper publishing is quite different from magazine with narrow specialization.
|
Copyright © 2005 - 2012 StrategicPlanning360.com. All rights reserved. Legal Info Site Map |
 |
