Brian Tracy - Profit Growth Strategies

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Brian Tracy - Profit Growth Strategies | 9.56 GB
Introduction
"Any goal can be accomplished if you break it down into enough small steps."(Henry Ford)
The business plan is as essential to business success as a blueprint would be inthe construction of a building. Each of the lessons in this course on marketing,
selling, cost analysis, pricing, break-even analysis and budgeting are ingredients that go into the final business plan.

The creation of a business plan, and the process of developing it, contributes to clarity
of focus, teamwork, organized effort and profit growth.
The failure to develop a clear, detailed business plan leads to a lack of direction,
inaccuracies, confusion and wasted resources. The business plan is the foundation
document for entrepreneurial success.

In this lesson you will learn how to:
- Develop a mission statement for your business
- Determine the strategic objectives you must attain
- Identify the activities necessary for business success
- Create a blueprint for your business plan

Developing Your Business Plan
The business plan is the most important document inthinking throughevery single
aspect of the business, before you commit time, money and resources to producing and selling the product or service.
Your business plan is the critical document that a banker or lender will want to see before providing you with the money you need.
The most important part of the business plan is that it forces you to think through all the critical ingredients that are necessary for you to achieve business success.

1.The starting point of a business plan is for you to develop a mission statement for your business.
a)What are your values?
What do you stand for and believe in?
b)What is your long-term visionfor your business? What would it look like in five years if you were successful?
c)What is your purpose for being in business? Why are you in business at all?
d)Based on the above, what is your mission?
What do you want to accomplish for yourself and your customers by starting your business?

2.Strategic objectives - these are the goals that you must achieve to build a successful business.
a)What level of sales do you want to reach over the next 1-2-3-4-5 years?
b)What level of profitability do you want to achieve from these sales?
c)What kind of a reputation do you want to achieve for your company, and for your products and services?
d)What kind of acompany do you want to build in the years head?

3.Tactical objectives - these are the activities that you must engage in to accomplish your strategic objectives.
a)What kind and quality ofproducts and services do you intend to produce?
b)What are your marketing and sales plans to achieve the revenues that you desire?
c)How will you attract the financing you need to build and run your business?
d)How will you attract the necessary people you require for business success?
e)How will you grow and expand with new products, into new markets, when your business is successful?

4.There are several strategic variables that you must consider in the
development of your business plan.
a)Product policy- you must determine the characteristics, design and mix of products/services offered.
b)Customer policy - you must define the specific types and characteristics of the customers to whom you intend to sell your products and services.
c)Promotion policy- how will you market and sell your products to your customers?
d)Distribution policy- how will you distribute and deliver your products and ser-vices to your customers?
e)Competitive emphasis- in what areas are you going to develop superiority or excellence over your competitors?
f)Pricing policy- how are you going to charge for your products and services?
g)Financing policy- where and how are you going to obtain short-term and long-term capital?

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