The business goals being attempted may be for-profit or non-profit. For-profit business plans typically focus on financial goals. Non-profit and government agency business plans tend to focus on service goals. Business plans may also target changes in perception and branding by the customer, client, tax-payer, or larger community. A business plan that has changes in perception and branding as its primary goals is called a marketing plan.
Business plans may be internally or externally focused. Externally focused plans target goals that are important to external stakeholders, particularly financial stakeholders. They typically have detailed information about the organization or team attempting to reach the goals. With for-profit entities, external stakeholders include investors and customers.[1] External stake-holders of non-profits include donors and the clients of the non-profit's services.[2] For government agencies, external stakeholders include tax-payers, higher-level government agencies, and international lending bodies such as the IMF, the World Bank, various economic agencies of the UN, and development banks.
Internally focused business plans target intermediate goals required to reach the external goals. They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing of a factory or a restructuring of the organization. An internal business is often developed in conjunction with a balanced scorecard or a list of critical success factors. This allows success of the plan to be measured using non-financial measures. Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans.
- The first step is to visualize the success of your business. Without this essential move, one tends to become too wrapped up in the details, and therefore, has little success of achieving the work.
- After visualization, comes the actual work in putting together the program that will lead to substantial wealth creation. This is an ever evolving process in most professional businesses. There really never comes a point when it is all done on auto pilot.
- Setting short term and long term goals is essential in building a strong and viable business. Often times, people tend to become focused in other areas and neglect the essential tasks at hand.
- Laying the groundwork for the new business is essential. Determining how much money is required from the new business is critical. There is never a need to make broad statements like "I need to make money." Be very focused with the plan, and it will work flawlessly.
- Obtain necessary business training and business sales mentoring is an added perk to the entrepreneur. Taking advice from a person, or persons who have built a business is wise investment.
- Never lose sight of the fact that building a business is serious work. One never achieves a level of financial mastery without honing business skills that will lead to the success desired.
Apex Business Marketing, Inc.
109 Lake Davenport Blvd.
Davenport, FL 33897
Office Tel: (863) 420-2648
Toll Free: (877) 562-6044
Office Fax: (863) 420-6878
Email: rigo@apexbizmarketing.com
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