The traditional business plan is dead – say the experts

0

Strategic Growth for Enterprise (SGFE) posted a discussion titled “The Business Plan Is Dead,” highlighting the need for companies to move from the traditionally tactical business plan to a strategic plan.

Entitled “Is the business plan dead!” The article asks the question, “Is the traditional business plan dead or just not structured properly?” Most business plans are tactical in their approach and rarely deliver the expected results. But what if companies could develop a strategic business plan for grow your businessnot limited to a specific year but measured by the achievement of goals and not by arbitrary deadlines.

What if the same revenues and costs could be calculated? The company would then be geared towards achieving that goal every time. The last decade has spawned a modern day entrepreneur with a new type of business format that has begun to form. Terminologies such as agile, test, learn, and experiment have spawned radically new ways to start a business.

Companies are moving away from traditions and starting to explore innovative ideas. Does this mean that the traditional plan-based approach to building a business is dead? Is a landing page, ad budget, and assumptions enough? This is not the case. If the business planning steps are applied correctly, the entrepreneur will have a tool that will shine a bright light on how the business works from the bottom up, how it can succeed and what will lead to failure.

Readers can learn more about this approach by visiting: https://www.sgfe.co.uk/.

Shekhar Varma, Strategic Growth Consultant for Business, says, “First, we need to understand what ‘lean development’ really means; what it’s not about is simply rushing into headless “doing” mode to the detriment of everything else; Doing a Lean approach correctly requires considerable planning, preparation and resources. Ultimately, lean is about gaining deeper insight into the market and customers, faster and at lower cost. It applies more easily to some markets and business models than to others.

“Secondly,” he continues, “we need to understand the value of a business plan. I’ve built more business models than I’d like to remember, and my mantra, once one is completed, is simple – the one thing we know for sure about this model is that it’s false.

A business plan is not meant to be “right” in the sense of being a perfect predictor of the future; instead, its value lies in the process of gaining a better understanding of the market, the numbers, and the key drivers.

Shekhar, one of SGFE’s consultants, said. “I recommend that a good place to start a new business plan is to understand where people in the business spend their time. Is it an activity that generates income or is it time spent on operations and administration? How much time is spent on strategy.

Finding the right mix for the business is a giant leap in focusing on sales and real short-term gains. Operating without a plan is like flying without navigational instruments – it’s only advisable for superheroes. “So as a new year begins, the question is: how will 2022 be used to grow your business?” added Shekhar.

About the company:

SGFE – Strategic growth for the company is a growth consulting service run by a family of business coaches, entrepreneurs and consultants. SGFE works with several national and international SMEs and international companies, covering several sectors, to implement successful financing, growth and exit strategies.

Media Contact
Company Name: SGFE – Strategic growth for the company
Contact: Gareth Bain
E-mail: Send an email
Call: +44 (0) 208 088 3612
Address:3rd Floor, 207 Regent Street
City: London
Country: UK
Website: https://www.sgfe.co.uk/

Share.

Comments are closed.