If you’re reading this, then you’re likely to be in one of the following situations:
- You’re looking for approaches to improve your business.
- You’re curious.
- 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:
- The purpose, the vision and values
- The product and / or service
- The target market
- Strategies to realise the how, who, what, when, where and why.
Tools and techniques to achieve this include:
- A SWOT analysis. Here, one’s assessing the Strengths, Weaknesses, Opportunities and Threats.
- 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.