Your personnel plan is the key to getting this right. If you are trying to get investors interested in your business, they are going to want to understand your plan for hiring: For potential investors, this section helps justify why each team member is necessary for the success of the business and acts as justification for their salary and equity share if they are part owners of the company. After describing the management team, describe the various teams your company is going to have.
Factors such as market penetration, market share, profit margins, budgets, financial analysis, capital investment, government actions, demographic changes, emerging technology and cultural trends are also addressed. There are two major components to your marketing strategy: However, in concert with defining the marketing strategy you must also have a well defined methodology for the day to day process of implementing it.
It is of little value to have a strategy if you lack either the resources or the expertise to implement it.
In the process of creating a marketing strategy you must consider many factors. Of those many factors, some are more important than others. However, many are common to all marketing strategies. Some of the more critical are described below.
You begin the creation of your strategy by deciding what the overall objective of your enterprise should be. In general this falls into one of four categories: If the market is very attractive and your enterprise is one of the strongest in the industry you will want to invest your best resources in support of your offering.
If the market is very attractive but your enterprise is one of the weaker ones in the industry you must concentrate on strengthening the enterprise, using your offering as a stepping stone toward this objective. If the market is not especially attractive, but your enterprise is one of the strongest in the industry then an effective marketing and sales effort for your offering will be good for generating near term profits.
If the market is not especially attractive and your enterprise is one of the weaker ones in the industry you should promote this offering only if it supports a more profitable part of your business for instance, if this segment completes a product line range or if it absorbs some of the overhead costs of a more profitable segment.
Otherwise, you should determine the most cost effective way to divest your enterprise of this offering. Having selected the direction most beneficial for the overall interests of the enterprise, the next step is to choose a strategy for the offering that will be most effective in the market.
These low costs should translate to profit margins that are higher than the industry average. Some of the conditions that should exist to support a cost leadership strategy include an on-going availability of operating capital, good process engineering skills, close management of labor, products designed for ease of manufacturing and low cost distribution.
The emphasis can be on brand image, proprietary technology, special features, superior service, a strong distributor network or other aspects that might be specific to your industry.
This uniqueness should also translate to profit margins that are higher than the industry average. In addition, some of the conditions that should exist to support a differentiation strategy include strong marketing abilities, effective product engineering, creative personnel, the ability to perform basic research and a good reputation.
It is based on the concept of serving a particular target in such an exceptional manner, that others cannot compete. Usually this means addressing a substantially smaller market segment than others in the industry, but because of minimal competition, profit margins can be very high.
OutReSources, Inc. will be a consulting company specializing in the design and delivery of training products and services in statewide and regional markets. The company offers health care providers a reliable, high-quality alternative to in-house resources for business development, market. This Restaurant Business Plan has been written to use a starting point for developing your own business plan. You are free to edit and use this business plan and its contents within your organization; however, we do ask that you don't distribute this business plan on the web without explicit permission from us. Business Continuity Plan Overview Existing BC Plan Layout BCM Team Document Page: 1 Layout of Proposed BCCM Template Business Continuity Plan.
Pricing Having defined the overall offering objective and selecting the generic strategy you must then decide on a variety of closely related operational strategies. One of these is how you will price the offering. A pricing strategy is mostly influenced by your requirement for net income and your objectives for long term market control.The information for this article was derived from many sources, including Michael Porter’s book Competitive Advantage and the works of Philip timberdesignmag.comts addressed include ‘generic’ strategies and strategies for pricing, distribution, promotion, advertising and market segmentation.
Personnel and Business Plans: Making the Most of Your Management Team. Business Plans you may not have the complete team as you write the plan. In that case, be sure to point out the gaps and. Business Continuity Planning. Business Continuity Planning is the way an organization can prepare for and aid in disaster recovery.
It is an arrangement agreed upon in advance by management and key personnel of the steps that will be taken to help the organization recover should any . PART 3 - STAFFING REQUIREMENTS: The final topic under the Management & Staffing section of business plan will be your staffing requirements.
3 Get started with your business plan – timberdesignmag.com Executive Summary The purpose of executive summary is to summarize the highlights of the bizplan and to.
One of the most important changes to PSPRS in the recent past has been the system’s improved investment strategy.