A strategic business plan helps in achieving business goals in a
systematic and effective manner. When you think about launching a business startup in India, it is incredibly important to start with a right thrust. Here is a
ten-step guide developed by seasoned business mentors:
1.
You must jot down the business
vision first. When you formulate a statement that defines the goals and values
along with the very purpose of starting the business. It is not more than two
lines, preferably a one liner.
2.
Write a mission statement.
Again, it is a short and sweet description of your business. What are your
plans and how you are going to achieve it? The mission statement is always
positive and assertive.
3.
Sit with the team and list out
factors that are critical to achieve the vision and mission. Remember, critical
aspects for each business are different. You need to think about it by having
multiple meetings.
4.
Formulate business strategies
and actions. Make a committee of stakeholders and decide the actions required
for achieving business objectives. It is not a generic document, but a concrete
action plan.
5.
Determine the starting point.
If you are a startup venture, then you are starting from the scratch. If you
are already in a business and diversifying, then assess yourself in the
competitive environment. Gather the right understanding of the startup competition India marketplace.
6. Decide priorities and assign timeline. You must keep in mind that
any action plan is incomplete till there is no d-date assigned. The date should
be realistic, achievable and challenging.
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