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Business plan 5 years

How to Write a 5-Year Business Plan

If it was before you started your company, how long has it been since you looked at that business plan?

How to Craft a 5 Year Plan - Brian Tracy

Maybe you never wrote one at all. But no matter how successful your business is now, developing a strategic plan for your business can help take your company to even greater heights.

With change happening faster than ever, industries being disrupted and technology transforming the world of business, creating a strategic plan looking five years in the business plan 5 years might seem hopelessly antiquated. But contrary to what you may think, the rapid pace of business change is the best reason of all to develop a strategic plan. And by considering a variety of scenarios, you can prepare options for how your business will react to them.

How to write a business plan step by step - business plan 5 years

How to create a strategic plan Whether you are creating a five-year, year, or year strategic plan, the basic process is the business plan 5 years. First, take stock of how your business is doing today. Gather your business mission and vision statements, your business plan no matter how outdated it might beyour sales data and your financial records.

Now think about where you want your business to be in five, 10 or 20 years.

How big do you want your business to grow? Do you want to expand your product or service line, your target market, your staff, your distribution channels?

Do You Have a 5-Year Plan for Your Business?

Would you like to start selling nationally or even worldwide? Do you want to be working fewer hours?

how to write a 5-year business plan

Do you want to be in charge of a staff of 50? Ten years from now, do you want to be on your third business?

Develop a plan for achieving each one of those things. The closer you get to today, the more detailed your plan should be. What key performance indicators KPIs will you look at?

How to Write a Five Year Business Plan, Your Business

If your goal is to expand regionally in business plan years years, how many locations and what geographic territory does that include? By measuring results and reviewing your plan every six months, you can quickly see when your strategic plan needs tweaking.

This keeps you from wasting time working toward a goal that no longer makes sense.

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