A strategic business plan provides a clear statement of your company’s purpose. Effective planning can mean the difference between the success or failure of your business. More than a few business experts have compared strategic planning to a chess match, in that it usually requires you to concentrate, not only on the field of play before you but on the numerous moves ahead.
Experts also frequently stress the importance of a strong, well-designed strategic plan. With a strategic business plan in your briefcase, the natural progression will often result in increased profits, so read on to find out more about achieving this goal with Bartercard.
Setting Up Your Strategic Business Plan
Your strategic business plan will spell out the logical steps toward a more profitable and efficient business. In other words, you need to define the reason for it existing in the first place. To be effective, your goals need to be measurable and achievable. Start broad and simple: increased sales, increased profits, lower overheads, etc. Then, continue to break your goals down into progressively more detailed steps and milestones until you can see the full process from start to finish.
In business, your goals require you to think ahead, so consider market analysis, sales strategy and financial projections. At Bartercard, we consider these important components of a workable business plan.
The Importance of Market Analysis
More than just a platform for business networking, Bartercard also helps you in your market research process. Stellar market research significantly improves your brand and is a vital component when you’re designing your products and services. The result of your market analysis will influence your entire brand image, and help you make sure that your strategy is on point.
By joining Bartercard, you will be able to communicate directly with potential markets, and with tens of thousands of members and multiple industries to connect with, you can keep track of the current and future trends in the market.
Have a Sales Strategy Plan
A sales strategy plan is your company’s roadmap for securing dependable, long-term revenue through the retention and acquisition of new and existing customers. This will typically encompass everything from specific tactics, market strategy, processes, objectives, forecasting, budgeting, and timelines.
Building and developing a sales strategy plan is one of the most crucial activities your business will employ. Whether focused on B2B sales strategy, SMBs, or enterprise, your company needs a dependable source of income to survive. Attracting new customers is one of the main reasons why so many business owners are choosing to join Bartercard each year.
Get Help to Create Your Business Plan
Most business owners don’t have a background in financial analysis, so engaging an expert to help with your financial projections is an essential step when creating a business plan. This financial forecast allows you to anticipate the revenues and expenses of your business over a given period.
Financial projections use existing or estimated financial data to forecast your business’s future income and expenses. They often include different scenarios so you can see how changes to one aspect of your finances (such as higher sales or lower operating expenses) might affect other areas and your overall profitability.
Bartercard Can Help With Your Strategic Business Plan
When you join Bartercard, you will have access to members who are financial professionals and keen to work with you! Our team can also show you where you can save cash on your business expenses. On average, members can enjoy a 10% increase in customers with Bartercard.
Contact Bartercard today and we’ll show you how you can easily access professional services to help you plan the growth and success of your business. Make your small business a Bartercard member today!
