Developing your Plan in Stages

How to Develop your Company’s Strategic Plan in 8 Stages
Every business will develop from a well-designed strategic plan. To get your strategic plan developed, it is helpful to have an outline of the process involved.

The following are some points to consider:

  • Set out realistic goals.
    This means you will have to look at your business mission statement and compare it with your current situation. Be clear that what you want to achieve is realistic.

  • Bring in your team.
    Make sure you involve all the people necessary to help in the planning process. This will involve your managers and professional adviser (accountant, lawyer, etc).

  • Look at your financial situation.
    Bring together all your financial data, including profit and loss figures, balance sheet and cash flows. Calculate and analyse your break even point and look at your projections, as well as the sources of capital you have in the event of revenue falling short of projections.

  • Make sure y...

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