5 Stages of Successful Business Planning

I think that with the successful development of a business covers five phases of planning and business development.

Phase 1: Situation Analysis - Where are we?
In this first phase of business planning and development, you determine where the company is currently in the form of financial and general positioning. So you should consider not only the financial situation, but that the company is marketing their products or services. They are facing a market that represents a large proportion of disposable income or not? It gives you an idea of the overall position of the company.

Phase 2: Business Objectives - Where do we go?
Secondly, you must identify where the company wants to go. These are the goals or objectives. It is difficult, because most people say they do not know where you are asked where they see how their company in three years! When working or not the owner of the company plans to triple their business or establish one is ten times larger than they are, then you can begin to identify the next steps that the company will take.

Phase 3: Strategic Analysis - How do we get there?
There is no such thing as one path to get where you want to go. In the third phase of business planning and development, you can reflect on a number of strategies you can take to achieve company goals. I found that strategies that you can choose one of five categories:
  • The development of the product - you can develop products for your market
  • The development of the market - the use of existing products and new markets
  • Diversification - developing new products for new markets and take your business to a whole new area
  • Penetration - spend money to win customers from your competitors
  • Acquisition - other companies to grow your business (mergers)
I would say that the market is by far the most common path. To grow a business, but it is important to analyze all options of the product and market development and diversification and acquisitions.

Phase 4: Cost Analysis - How much does it cost?
Whatever strategy you choose, costs are predictable. There are a number of government agencies that can help analyze the costs and financial forecasts programs that allow you to take into account expected income compared with the costs to see if the company can not afford to eliminate development companies.

Step 5: Fund Analysis - Where does the money go?
I think there are really only four places where a company can obtain financing for development, and they include:
  • Business shareholders
  • Bank financing
  • Government grants
  • Public-Private Equity
Each of these steps are essential to good business planning and development.