Strategic Planning In Small Business

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.

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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 11: Team The team section of your strategic plan ensures you have the human resources to execute on the opportunities you’ve identified and to achieve the goals you established in section 5 of your plan.

Here you should list your current team members and identify the types of people you need to hire in the next year to achieve your goals.

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.Section 7: Target Customers In this section of your strategic plan, you will identify the wants and needs of each of your target customer groups.This is important in focusing your marketing efforts and getting a higher return on investment on your advertising expenditures.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.So, it’s critical to identify the KPIs you will track in your business and list them in this section of your strategic plan.Click “next page” below for sections 7 to 13 of your strategic plan or here for the proven strategic plan template.This is because the more you can “speak” directly to your target customer wants and needs in your marketing, the better you will attract them.Section 8: Industry Analysis Your industry analysis doesn’t have to be a comprehensive report on what’s going on in your market.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.

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