Developing a five year business plan

Strategic Analysis with current research! The Trucking Company, Inc.

Developing a five year business plan

Without such a plan, you run the risk of running around in ways that have little to do with generating results. A five-year strategic plan describes where you are now and how you plan to achieve your goals over a five-year period.

When writing your plan, include subheads that are specific to your goals. Executive Summary First, start with an executive summary. The executive summary is usually written after you have completed the other sections, but it appears at the top of your strategic plan.

This enables you to extract key points from the other sections, which you will include in your summary. The executive summary gives the reader an overview of what the strategic plan contains.

The topics discussed in the executive summary are elaborated on more fully in the sections of your strategic plan. Mission Statements and Vision Statements The mission statement is a concise summary of the overall objective of a business, and it states what the business hopes to achieve.

Apple leads the digital music revolution with its iPods and iTunes online store.

Search form

Apple has reinvented the mobile phone, with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad. Using a five-year strategic plan as an example, the vision defines the company success over five years. Take an honest assessment of what your company and key team leaders are great at doing, and of what they need to improve upon.

Look for opportunities in the market, and examine any threats that might prevent you from achieving your goal. A SWOT analysis helps identify areas that a business owner might take strategic actions on. For example, a business owner who determines that his weakness is in organizational skills, should hire someone who is strong in this area, so that he negates the weakness.

Strategic Goals Strategic goals look at specific ways to accomplish something. For example, a company that wants to improve viable prospects might set goals for online ad funnels, networking activities or referral programs.

It is important to review the goals and exactly how each potential solution might be able to achieve the goals. If networking provides fewer leads that have higher closing ratios compared to ad funnels, business owners need to evaluate the data and determine the next step toward success.

A strategy might involve more than one strategic action, varying budgets and personnel resource dedication. Strategic goals over five years involve a series of smaller goals and action plans.

Start with the five-year goal and work backward to establish achievable goals over shorter time periods, such as one-year goals. Measure Success Business owners need to measure success, and they need to examine the goals and establish key performance indicators KPI.

Just as the goals are broken down into smaller achievements and action plans, KPIs need to start with the end result and work backward. For example, a KPI for social media ads might evaluate how much is spent during a specific time period.

A KPI also considers what the online ad open rate is compared to the ultimate sales conversion rate. An ad that converts on one platform, but not on another, suggests that the demographic is better targeted toward one platform and not in the other.

Business owners should use KPI data to scale up their successful strategies and to put more resources over a five-year period toward the most profitable strategies. Tips The strategic plan is not set in stone. As the business grows, goals can change, which could ultimately change the mission and objective of the business.

If this occurs, the strategic plan should be adjusted. Be as thorough as possible when creating the strategic plan. Ignoring prior business activities could mask issues the business has that could possibly be corrected with the plan.In Year Two we are forecasting a gross profit of $,, and in Year Three we plan to reach $, Cash Flow Projections The Cash Flow projections for Year One (see Appendix 2) show that after the owner has put in $41,, the business will need additional short-term financing of about $83, Free Trucking Company Business Plan For Raising Capital from Investors, Banks, or Grant Companies!

Please note that the financials in this complete free business plan are completely fictitious and may not match the text of the business plan below.

This free business plan demonstration purposes you are interested in purchasing the completed editable MS Word and Excel . Feb 28,  · Last week, I discussed the components of a strong business plan and why entrepreneurs should create them, regardless of their venture..

I’ve had experience both developing business plans and. FIVE YEAR STRATEGIC PLAN UPDATED SEPTEMBER Changing business models means that the way in which success is measured has also changed. As opportunities and challenges transform the economic development and for developing the next generation of economic development leaders.

developing a five year business plan

How do we. 3 1. Executive Summary Michigan Reach Out! successfully develops coalitions with and among partners in business, K–12 schools, churches, colleges, universities, and other community organizations to leverage, train, and link mentors to support children and teens with academics, career exploration, and.

Section 1. An Overview of Strategic Planning or "VMOSA" (Vision, Mission, Objectives, Strategies, and Action Plans) Section 2. Proclaiming Your Dream: Developing Vision and Mission Statements.

How Do I Write a 5-Year Strategic Plan? |