Business Planning Tips

business planningBusiness plans are used in the private and non-profit sectors to describe key elements of a project or business, focusing on critical success factors. Although the prospect of writing a business plan may seem intimidating, it doesn’t have to be. As long as you take some time, include essential information, and follow a handful of simple steps, you’ll be on your way to creating the perfect business plan.

Corporate level: Planning at this level should provide overall strategic direction for an organization, sometimes referred to as the “grand strategy.” This is a concise statement of the general direction which senior leadership intends to undertake to accomplish their stated mission or vision.

Executive leadership: Business planning, vision of the future, understanding of laws and regulations that affect your industry, relationship building and the over all cohesive function of the various departments fall to the executive and senior management.business planning

Given all this, it is hopefully easier to understand why, depending on a person’s role or standpoint or the department in which they work, ‘business planning’ may be referrred to in many and various ways, for example as ‘sales planning’, ‘marketing planning’, ‘strategic planning’, etc., and that all these terms might mean slightly different things, according to the situation.

Terence Channon , the Managing Director of the Saltmines Group which helps early stage projects with technical support, offers businesses to create a compelling video showing their product, customer acquisition results and team instead of a standard business plan, saying that it is a way better to show your product in action than just screenshots or stock images.