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Month: July 2017

4 Essential Components of a Business Development Plan Template

4 Essential Components of a Business Development Plan Template

Any business or startup will need a periodical assessment of its success and business goals to ensure long term survival in the market. With this, a carefully sketched out business development plan template is essential if you plan on expanding your business.

So, what is a business development plan?

The phrase ‘Business development plan’ is actually derived from two words: business development and plan.

Business development refers to tasks and processes aimed towards making a business or a startup much better. This includes increasing revenues, growth in terms of business expansion, increasing profitability by building strategic partnerships and making strategic business decisions.

business plan

In simple words, business development means all activities that are meant to expand business either through acquiring new customers or selling additional products or services to the existing ones.

Take note; however that business development does not equal to sales. Sales are aimed at increasing the revenue through existing customers. The basis of Business Development on the other handis about creating long term value or building a long term positive image for an organization in the minds of customers, stakeholders, markets and so on.

A business development plan is, therefore, a plan that aims to lay down the long term plan for a business organization in order to achieve those objectives. It is literally a must have for any business – big or small.

Components of a Business Development Plan Template:

The successful business development plans include several things such situation analysis, a SWOT analysis and clearly outlined goals, objectives, strategies and tactics. The plan provides guidance for all members of the organization. The essential components of a business plan are:

Executive Summary

A business development plan should start with an executive summary. This section is important because it provides the readers a background of what the company is. Basically, a summary is meant to provide an overview of the business plan to investors, shareholders, advisors and employees to in order to generate support your plan.

Key Performance Indicators (KPIs)

A great business development plan includes company’s metrics and KPIs. KPIs or key performance indicators are measurable values that demonstrate how effectively a business is achieving its key objectives.

key performance indicators

High-level KPIs focus on the overall performance of the business in different areas such as finance, marketing, research and development etc. Low-level KPIs may focus on processes in departments such as in marketing; there can be sales, advertising, etc.

By tracking your KPIs, you will understand how your business is performing in particular areas.So, it’s critical to identify the KPIs and list them in this section of your business plan.

PEST Analysis

The PEST analysis is another tool for understanding market growth and recognizing the position, potential and direction for your business. PEST is an acronym for Political, Economic, Social and Technological factors. The tool is used to analyze and assess the market for a business or an organizational unit.

A PEST analysis should be part of your business development plan in order to clarify how such external factors are favorable for expanding your business. It is usually done before the SWOT and becomes a part of the SWOT analysis.

SWOT Analysis

SWOT stands for Strengths, Weaknesses, Opportunities and Threats and is a diagnostic tool to assess the potential and critical issues to your business. It is vital to include a SWOT analysis in your Business Development Plan in order to help you determine the best opportunities to pursue to achieve your growth goals.

opportunities

It also helps you identify which strengths you must develop and the weaknesses you need to eliminate in order to improve your company.

Goals, Objectives, Strategies, Tactics

The results of all the analysis made are used as inputs for the establishment of goals, objectives, strategies and tactics. Goals are basically the long term outcomes that your business development plan seeks to achieve. Objectives are far more specific and include clear, measurable outcomes you are supposed to achieve in a specific time period.

Strategies indicate how the business will accomplish its objectives by leveraging its strengths and opportunities, and overcoming its weaknesses and threats. Tactics are operational and indicate the guidelines the company will follow to achieve its strategies.

Are you prepared?

A proper business plan will guide you in purpose, including the mission, vision and values, as well as product or service, target audience and the strategies to achieve success. Hence the value of a business plan cannot be overstated.

You can consult business solution providers online who will conduct customized health checks on your business and then draft a business plan accordingly. But remember to get your business plan updated every few months to get hold of the latest marketing and financial strategies.

Things To Consider When You Plan A Kitchen Renovation

Things To Consider When You Plan A Kitchen Renovation

When you are thinking to renovate your home, the first thing you need to consider is the renovation of the kitchen. There is no better return on your investment than renovating your kitchen. The kitchen is the heart of the home where the family member gathers and are nourished both physically and mentally.

The renovations you make to your kitchen will depend on the reasons for renewing, budget limitations, and your future plans. Kitchen renovation will make sure that the part of the house which is used the most is made comfortable and utility based. It improves the design, function and resale value of your house. You can also consider perth cabinet making designs to renovate your kitchen.

When it comes to planning your new kitchen then it is important to understand the design and theme. In this way, you will be able to prevent any kind of problems in the end.  You need to discuss your plan with the professionals of kitchen renovation so that they will give you more suggestions and make your kitchen more stylish. You can also discuss the kind material or things that you want in your kitchen.

The cabinets should always be one of the main things that you choose on as a part of your kitchen renovation, as they really do take a considerable part out of your planned budget. Many companies of kitchen renovations in Perth provide the affordable services that you may not find in the same price anywhere else.

Kitchen renovations are incomplete without a new kitchen counter. You don’t need to buy new kitchen counter every time you redesign your kitchen. You should simply place the new rock on the ledge. Stone does not simply look smooth it additionally withstands a large measure of wear and tear and stays long. Rock is available in a mixture of colors. You can also read this post here to get more info about kitchen renovation.

You should also consider the things and materials that are used and installed in your kitchen, which can help you to prepare and cook meals easier and faster. You can get these features by choosing top-class materials or appliances.

 

Ideas for hosting kid’s birthday party

Ideas for hosting kid’s birthday party

If you are thinking of planning a party for your kids, then make sure that it includes several fun activities. Kids want their party to be the best and according to their requirements. Kids’ parties are needed to be interesting so that kids do not feel bored. Below are some ideas for hosting parties for kids:

1. First of all examine that whether you want to throw small or big party for your child and after this create a list of guests. If you are throwing a big party then you can invite whole class and all neighborhood friends of your child. You can also hire Sacramento Kids for hosting parties and events for your child.

2. Plan your party timing. The best time for party is after lunch and before dinner.

Birthday Party
3. Choose the party theme. For girls you can choose themes likes:

• Pink wing theme
• Princess birthday party theme
• Balloon birthday party theme
• Rainbow themed birthday

For boys you can choose themes like:

• Mickey mouse birthday party theme
• Magic party theme
• Superman birthday party theme
• Farm birthday party

If birthday party is for both boys and girls then you may choose pirate theme or back yard theme. You may visit this site https://sacramento4kids.com/cat/birthday-parties/ they have a huge list of birthday party providers that can host your kid’s birthday party very well.

4. Choose snacks that are not harmful for kids: Organize fun activities and games for the kids where they can show off their talents and also keep prizes for the winners so that they can take part with full interest in these games.

5. If your kid’s birthday party clashes with the other kid’s party, then ask another kid’s family about their plans. If they are hosting party on the same day then you should consider another day to host your child’s birthday.

These are some of the ideas that you can look for while hosting birthday party. You can also search various online sources for more ideas.