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However, you should conduct an analysis to ensure the market size is growing (if not, you might want to diversify), and to help identify new opportunities for growth.Section 9: Competitive Analysis & Advantage Similarly to your industry analysis, your competitive analysis doesn’t have to be a thorough report listing every detail about every competitor.
Section 10: Marketing Plan In addition to your strategic plan, I recommend you develop a comprehensive marketing plan describing how you will attract prospects, convert them to paying customers and maximize your lifetime customer value.
Include a summary of your marketing plan in your strategic plan.
Section 6: Key Performance Indicators (KPIs) Great businesses understand their metrics and KPIs.
By tracking your KPIs, you know exactly how your business is performing and can adjust as needed.
Section 1: Executive Summary The Executive Summary of your strategic plan should be completed last, and this section merely summarizes each of the other sections of your plan.
The Executive Summary is important since it will help other key constituents, such as employees, advisors, and investors, quickly understand and support your plan.Rather, in addition to defining who your key competitors are, you should list their strengths & weaknesses.Most importantly, use this analysis to determine your current competitive advantages and ways to develop additional advantages.Then work backwards two more times to determine your goals for the next quarter and the next month.Ideally you update you strategic plan monthly to modify this section.Section 12: Operations Plan Your operations plan helps you transform your goals and opportunities into reality.In this section of your plan, you will identify each of the individual projects that comprise your larger goals and how these projects will be completed.A strategic plan is a roadmap to grow your business.To help you succeed, use this proven strategic plan template, and the information below details the 13 key sections you must include in your strategic plan.Section 2: Elevator Pitch An elevator pitch is a brief description of your business.Your elevator pitch is included in your strategic plan since it’s key to your business’ success, and often times should be updated annually.