Before writing or rewriting a business plan, you should have a clear strategic vision and direction for the future. You should also have an understanding of how the business compares with competitors already in the market, and you should consider threats which could change the shape of competition in the future.
Once these are clear, you should draw up a clear statement of your overall business aims, together with a set of around half a dozen realistic and measurable objectives which cover what you want the company to achieve and by when.
Most companies think of setting objectives in terms of higher sales and better margins, developing new and existing products, recruiting specialist skills, attracting new customers and cross-selling to existing ones; but you may have specific objectives that are particular to your business.
Once you have done this, the next step is to develop plans for each part of the business to ensure that these objectives are met.Last Updated