In order to succeed, you need terrific business and marketing plans, right? Well, did you know that some of the world’s most successful companies only succeeded with their plan B, or even C or D (meaning that the original one did not work)? “Getting to Plan B” by John Mullins & Randy Komisar analyze some of such companies and you surely know them: Google, PayPal, Starbucks.
But without the plan A, you can’t even have the plan B… Creating a business plan can be a long and delicate process, so today I would like to offer you some outlines for creating a marketing plan:
– Situational Analysis: the first step it to examine and evaluate your company’s economics, policies, culture and technology as well as competitors, distributors and suppliers. Then perform a SWOT analysis (strengths, weaknesses, opportunities and threats).
– Objectives: asses the opportunities form the situational analysis, define your target market and, based on that, determine your goals.
– Strategies: determine the most efficient and effective way of achieving those objectives
– Tactics: now that you have the strategy and timeline in place, devise a detailed plan for its execution, who are the individuals and teams who will carry out the plan?
– Budget: Keep your funds in mind when preparing the plan – what is your budget and how will it be spent?
– Controls: throughout the plan’s execution it is crucial to control the progress, so you need to devise a control system. If you detect stagnation or even regression, you must re-evaluate objectives, strategies and tactics in order to correct the situation.
Here’s to your business success!