A strategic business plan should define the goals and direction of the business. It is critical that business owners understand where they are currently placed and where they want to get to, before they map out how to get there. The strategic plan should address internal and external factors, and how these impact the financial performance and position of the business.
At DJ Smith Group we work with business owners to help them understand their business, including business health checks, developing key performance indicators and reporting against these. We aim to provide business owners with a framework around which they can make informed decisions regarding spending and resource allocation.
Key operational strategy areas may include:
- Human resources
- Sales and marketing
- Information technology
- Business structure
- Succession planning
Key business development strategy areas may include:
- Services and products
- Business divisions
- Mergers and acquisitions