Entrepreneurs and business managers are often so preoccupied with immediate issues that they lose sight of their ultimate objectives. That is why a business review or preparation of a strategic plan is a virtual necessity. A business is much more likely to fail with out a strategic business plan.
Without a strategy, your business has no direction. Strategy tells where you want to go. Without a strategy, your chance of achieving your goals is significantly diminished.
A Strategic Business Plan is much more than a tool to obtain financing. If you still have all your plans and ideas locked up inside your head... preparing a strategic plan helps you clarify your company's direction, ensures your key leaders are all "on the same page", and keeps both management and staff focused on the tasks at hand.
A Strategic Plan is often needed when...
Starting a new venture, product or service.
Expanding a current organization, product or service.
Buying a new business, product or service.
Turning around a declining business.
*The Strategic Plan provides a blueprint, describing your company, its products, the competitive environment, management team, financial health, and business risks.