Business Plan/ Corporate Strategy
(IMPORTANT NOTE: Projected Financial Statements and Monthly Cash Flow and Income Projections are included in the Business Plan Option. Purchasing these as separate services is not required).
Chad Eros, principal owner of Eros Consulting is a Certified Management Accountant (CMA). A CMA’s flagship service is strategic planning and implementation or… business and corporate strategies or… business plans. This means we are business strategy, accounting and project management experts.
In critical decision-making circumstances, the following elements are present in a business plan/ corporate strategy:
- Analysis of current situation - Includes internal business situation and external market condition analysis. Reveals and states urgency for change.
- Analysis of major strategic alternatives to continuing at status quo.
- Recommendation of strategic alternatives choice(s) and explanation why.
- Implementation plan to strengthen weaknesses and reduce threats.
- Implementation plan for the chosen strategic alternatives including capital budgeting, human resource allocation, performance measurement/management.
- Monthly projected cash flow and income statements for cash and capital budgeting
- Projected financial statements displaying the possible results of recommended actions on the company’s financial statements
Your business has a purpose and that purpose if often expressed in a “mission statement.” Your business also has short term goals in regards to what you want your business to be known for or how what people think about your business when they here it’s name. This is a vision statement. Your mission and vision come from you the owner or board of directors and senior management. All proper planning and strategy must be in line with the company’s mission and vision. The benefits of a proper plan and/or strategy is:
- Get what you want – when key stakeholders (shareholders, lenders, employees, government, community groups, various demographics and many more) understand and know a plan is centered on a mission they can buy in to, external push back is minimized.
- Increase sales and profitability – Develop and execute a strategy to take advantage of all those opportunities you’ve identified.
- Raise money and stay on budget – Any business plan worth its salt has a plan and budget for capital expenditures
- Successfully navigate constraints – There are obstacles such as cash budgets, political, legal, and stakeholder preference constraints to navigate through. Your plan will address these restraints and plan to navigate through or around them.
- Save money – Reduce unforeseeable costs and expenses
- Reduce deadwood – if assets or job descriptions don’t fit in a business plan or corporate strategy re-purpose these assets
- Manage timelines – determine what is urgent and crucial and focus efforts on these items.
- Simplified performance measurement – managers and employees will buy in to a performance measurement and reward system they understand
- Simplified performance management – when employees know and understand their roles they become driven and motivated.
- Attract and retain talent - have a plan to build the work culture that will build a dream team
- CREATE AND INCREASE YOUR BUSINESS’S VALUE – The better your business’s systems are for providing excellent and cost effective services and products to your customer, the easier it is to sell it as a turn key to the next shareholders. Whether you are a small mom and pop shop or a publicly traded company increasing share value is always key in formulating business and corporate strategy.