Strategic Business Planning and Development

There are generally three areas you will want to cover in your business plan:

Product development
Market development
Organizational development

Each of these elements needs to be examined from the funding of the plan to the point where the business begins to experience a continuous income. Although these elements will differ in nature concerning their content, each will be based on structure and goals. Analysis of the market and competition, most of the product, market and organizational development goals will be readily apparent. Goals should be quantifiable, directed, consequential, and feasible.

Goals For Product Development

Goals for product development should center on the technical and marketing. Organizational goals would center on hiring expertise in order to attain your product and market-development goals. This expertise usually needs to be present to provide your company a competitive advantage. Without expertise, the chances of bringing a product successfully to market will diminish.

Procedures

With your goals outlined and expertise in place, your next project is to establish a set of procedural tasks or work assignments for each area of the development plan. Procedures will have to be developed for product development, market development, and organization development. In some cases, product and organization can be combined if the list of procedures is short enough.

Procedures should include:

Resources to be allocated,
Who is in charge of completing each goal, and how everything will interact.

Create work assignments that need to be accomplished in line with the overall development plan. To do this, all you must account for all individual work assignments so that all elements are accounted for in the development plan. The next step involves setting deliverable dates for components as well as the finished product for testing purposes.

There are (3) main steps you must accomplish before the product is ready for delivery:

Introductory product review. features and specifications have been checked.
Critical product review. Product has been checked and gauged using your development plan to make sure your plan is on target.
Final product review. Product is checked against goals to assure the integrity of the product being offered.

Scheduling and Costs

This is one of the most critical steps in your development plan. Scheduling includes each key elements of your business plan as well as the stages to meet prior to customer delivery. You should also be tracking your budget in some form of accounting process.

Tracking

The schedule:

How long it takes
Start Date and Stop Date
Number the tasks for importance

Development Budget

Creating your budget:
Account for all expenses:

Costs that should be included in the development budget include:

Material. (Cost of Goods Sold) Raw Product?
Equipment Costs
Labor Costs.
All Overhead costs such as office supplies, utilities, rent, etc.
Officer Salaries
Marketing & sales costs prior to delivery.
Professional services.
Miscellaneous—. Costs that are related to product development.

Personnel

Will you hire professions with expertise to succeed? Not all companies will have the expertise in place. Therefore, the proper personnel have to be recruited. Make sure this aspect is in your business plan

Assessing your Risk

Risk should be assessed and a plan developed to address each one. Risk during the development stage will usually center on technical development of the product, marketing, personnel requirements, and financial problems. By identifying and addressing each of the perceived risks during the development period, you will allay some of your major fears concerning the project.

Forecasting and Market Analysis Research

At AA Tax & Accounting, we believe in business plans that strategically place our clients with the necessary resources to meet business goals and objectives.

It is never to late to begin Business Strategies and develop tools for reaching goals and objectives. The key to success is to have a well-planned strategy, to establish your policies and to consistently monitor prices and operating costs to ensure profits. “Change can affect your competitiveness and profit margins.”

A Strategic Plan should cover multiple years and focus on long term goals and priorities!

Does your business have a vision with purpose and objectives…do your employees know your vision…purpose and objectives? You will soon discover or may have already, that employees play an important role in the total operation of your business.

**Prepare and work from a written plan that shows who does what, by when�

Until committed to paper, intentions are seeds without soil, sails without wind, mere wishes which render communication within an organization inefficient, understanding uncertain feedback inaccurate, and execution sporadic.

Without execution, there is no payoff.

We help clients identify and implement accounting and management policies that will lead to and help their business meet its financial obligations.

Forecasting

Defining in terms of what is to be bought, precisely by whom, and the why…The successful business predicts and responds to the needs of its chosen customers. Customers, therefore define the business. At all times, some customers are growing in their ability to buy, while others are declining.

Financial

Sometimes, the entire future of your business depends on obtaining financing which requires writing an excellent plan.

Sound financial management and accounting are principal ways for your business to remain profitable and solvent. How well business finances are managed is the cornerstone of every successful business venture.

Each year thousands of businesses fail due to poor financial management and accounting�when is it too late to begin well?

Marketing and the Analysis

We believe “Marketing” MUST start with strategic planning. We assist you in researching and examining your products, services, customers, prospects and competition. Our goal is to help you improve your bottom line.