In this section of your plan, you will identify each of the individual projects that comprise your larger goals and how these projects will be completed.
They should be concise, easy to understand, and deal with the main issues simply, with relevant supporting detail, facts and figures. However, you should conduct an analysis to ensure the market size is growing if not, you might want to diversifyand to help identify new opportunities for growth.
We have to start out by acknowledging that all business plans are wrong.
How will you react to and overcome new challenges? It's easy to identify weaknesses in your competition, but less easy and a lot less fun to recognize where they may be able to outperform you: What are their strengths? Our goal is to provide mid- to high-end equipment. Far from it.
Do you eventually plan to sell the business for profit or to provide money for your retirement? Why do customers need and why will they be willing to purchase your products and services?
A key component of identifying and testing assumptions is developing what Eric Ries calls a Minimum Viable Product. So, develop your strategic plan todayand achieve the goals you desire. Notes: Customers can extend the rental term online without visiting the store.
The process starts with understanding your market and the opportunities inherent in that market.