How to Plot Your Small-Business Strategy - dummies

How to Plot Your Small-Business Strategy

By Steven D. Peterson, Peter E. Jaret, Barbara Findlay Schenck

The strategy section of your business plan describes exactly how you intend to accomplish your business goals. Be as specific as possible when describing your business strategy. Being concise will help you identify prime opportunities in which you can employ your strategy.

  • If your goal is to get your business off the ground, you need to outline your strategy for obtaining financing and launching your operation.

  • If your goal is to expand your business, you need to describe your growth strategy.

  • If your goal is to introduce a new product, you need to detail strategies for research and development, production, and product introduction.

In addition to all other strategies, this section of your plan needs to outline your marketing strategy, showing how you plan to reach customers and persuade them to buy what you sell. Your marketing plan is very important because it is the blueprint you’ll follow to achieve sales success. And sales success is the only way you can succeed as a small business.

In the strategy part of your business plan, list your business goals and objectives and accompany each one with the strategy you’ll follow to achieve success.