As you’ve learned throughout the pages of this book, the right business plan can transform your business. It can boost your sales and profits, and allow you to achieve the goals you had when you first launched or purchased your business.
However, your business plan can only do this if you complete it properly. Most important, you must start with the end. You must dream big about what you’d like your business to achieve. Once you have that crystal-clear vision, you can begin planning and reverse engineering it.
Remember to develop and document your vision from a customer perspective—what you are trying to do for your customers. Then document your vision from a business perspective—what you are trying to achieve financially, such as selling your business for $40 million within 5 years.
Once you develop your long-term vision, you must reverse engineer it by determining your annual, quarterly, and monthly goals. Although your plans can and will change over time, each of these periodic goals will move your company closer to its ultimate end goal.
Much of your success will be based on pursuing the right opportunities. Remember not to use the old SWOT analysis, and realize there will always be outside threats and company weaknesses that don’t warrant fixing. Rather, focus on opportunities that leverage your strengths, and build your strengths further so they give you sustainable, long-term advantages.
To successfully grow your business, you will need a scorecard. Your scorecard, ...