Business Development Plans

If you’re reading this, then you’re likely to be in one of the following situations:

  1. You’re looking for approaches to improve your business.
  2. You’re curious.
  3. You’ve thinking about or have just started your business.

Starting and running a business brings with it a wide range of benefits, but there are also challenges. Whatever the reason, ensure that you have a clear vision, your core values, practices and operations are well thought through and documented.

Put simply, can you fill in the gaps:

  • To achieve ……. We need to:
  • For us to succeed, we need to …

Business development plans inform a business about:

  1. The purpose, the vision and values
  2. The product and / or service
  3. The target market
  4. Strategies to realise the how, who, what, when, where and why.

Tools and techniques to achieve this include:

  1. A SWOT analysis. Here, one’s assessing the Strengths, Weaknesses, Opportunities and Threats.
  2. A Situational or PESTLE analysis. In this instance, one is assessing the Political, Economic, Socio-cultural, Technical, Legal and Environment issues.

This information is brought together, comprising both quantitative and qualitative data, such that informed decisions can be made and appropriate action taken.