Steps in business plan process

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Strategic plans help identify what an organization is striving to achieve and maps out the necessary steps needed to be successful. It used to be that strategic plans would go out for ten years but organizations today typically look years down the road — some industries just plan year by year. To begin the process the organization needs to have a passion for what it does and a clear idea of what it hopes to achieve. A Vision Statement is a statement typically sentences that gives the reader and more importantly, the organization a mental picture of what the organization hopes to become or what the organization hopes to achieve. Ask them to close their eyes and describe the mental picture they see when the organization has reached its optimal state.
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To fix that, try a six step process: first, identify key stakeholders. Second, identify a specific, very important key stakeholder: your target customer. Third, figure out what these stakeholders want from you. Fourth, figure out what you want from them. Fifth, design your strategy around these requirements.
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Because so many businesses fail in these regards, you can get ahead of the game using strategic planning. In the simplest terms, the strategic planning process is the method that organizations use to develop plans to achieve overall, long-term goals. The strategic planning process is broader—it helps you create a roadmap for which strategic objectives you should put effort into achieving and which initiatives will be less helpful to the business. The strategic planning process steps are outlined below.
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If you have big aspirations for your business, you need a plan to make things happen. Success rarely follows spontaneity especially for entrepreneurs. A detailed plan is usually the best way to make your dreams a reality.
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