Key Elements of a Good Business Plan Strategy in 2020 by a BUsines Plan Writer in Toronto

A business plan strategy is a bit different from standard business plans. Business plan strategies help organizations with focus, direction, and action to achieve objectives of the business plan. Let’s quickly check out the top elements to include in your business plan strategy for 2020.


Mission Statement
The mission statement states the purpose of your organization in a sentence or paragraph. It gives a snapshot of your business and the difference you intend to make.

Example:

Netflix: To bring entertainment within reach

Uber: To help people reach their destination quickly and conveniently

Core Values
Core values lay the foundation of how everyone should act in your company. Note down 3 - 5 core values fundamental to your organization that provide direction to your objectives.

Example:

Prioritize customer service above everything else

Dedication and team productivity

Long-Term Vision
Your long-term vision defines your idea of success. Yet, it shouldn't be ambiguous. You need something like a target that guides your efforts and helps you achieve your goals. Long-term vision is usually provided for a timeframe.

Example:

Philips: Affordable and energy-efficient lighting in every home

A new electric car company in India: To become Tesla in the East

Strategic Agenda
Strategic agendas lay down the projects you are going to undertake in the coming years. Include projects that help you progress towards your mission. You should also include internal projects that help your organization improve operations.

Your strategic agenda will guide you towards your vision, so you need to get them right.


Project Plans
You need to develop a project plan for each project approved in your strategic agenda. Consider the following elements-

    • A time target to achieve results (based on project -1,2,3 years)
    • Metrics that measure the success of the project
    • Milestones for annual targets
    • Accountability standards for each milestone

Yearly Budget
The annual budget allocates the required resources to accomplish your objectives. The financial map defines where you should allocate resources based on your priorities. You may need to review your past budgets if your business plan strategy is for an established business.

Capital Expenditures Strategy
Your facility or equipment may break down or suffer damage any time. It's necessary to plan for replacement by allocation of required funds. Otherwise, you may need to channel money from your operational budget. As a result, your operations can face disruption and affect the financial condition of your company.

Final Thoughts
Each component of your business plan strategy carries great significance. You should involve your board and your management in crafting out your organization's strategy. This will lead to a viable business plan strategy that helps you achieve your mission and business objectives.

Business plan writing is a specialized service and you should be careful in picking up a business plan writer for your new or established business.

You can consult Maroof HS CPA Professional Corporation for professional guidance and development of practical business plans to guide your business and raise funds. We specialize in business plan writing for new and already established businesses. We provide business plan writing services for immigration, borrowings or even internal management use. We specialize in Canadian market and if you are looking for a Business Plan writer in Toronto or Canada, look no further. Give us a call at 1(647)724-4308 for a free consultation.

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