- Last Updated on 14 May 2014
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Business development plans provide guidance to organisations in purpose, including mission, vision and values, as well as product or service, target audience and the strategies they will use to achieve success. Successful business development plans include a situation analysis, a SWOT analysis and clearly outlined goals, objectives, strategies and tactics. The plan provides guidance for all members of the organisation.
Based on all of the information gathered during the situation analysis, a SWOT analysis is generally done. SWOT stands for strengths, weaknesses, opportunities and threats. It is the process that businesses use to review all of the information gathered during the situation analysis to determine how that information impacts the business in positive and negative ways. Generally, a small group will brainstorm each elements of the SWOT analysis, capture the items they come up with and prioritise the items so that they end up with three to five main items in each category.
Goals, Objectives, Strategies, Tactics
The results of the SWOT analysis serve as an important input to the establishment of goals, objectives, strategies and tactics. Goals are high level and indicate what the business development plan is designed to accomplish in a broad, general sense. Objectives are more specific and include clear, measurable outcomes and timelines, often using the SMARTE system - Specific, Measurable, Achievable, Results Focused, Time Based and Exciting. You aim to achieve objectives, you don’t DO them. Strategies indicate how the company will accomplish its objectives by leveraging its strengths and opportunities, and overcoming its weaknesses and threats. You DO the strategies. They are the HOW you achieve the objectives. Tactics are operational and indicate exactly what the company will do to achieve its strategies.
For the Micro business and SME
You need to plan for the future. That's stating the obvious, but not everyone does it.
A business must grow and adapt to new circumstances if it is to develop and survive. Our business development services provide you and your business with the tools it needs to effectively plan for the future.
We have expertise in all areas of corporate planning; from the larger manufacturer to family run enterprises and one person businesses. Our insights into the world of business will help you develop your company into a fitter more efficient corporate entity.
From the big vision down to the smallest details we will help your business grow step by step.
In the process, we will train you and you will learn the skills you need to ensure the success of your enterprise. It's a bit like a specially written training course for you alone with the success and development of your company as the project outcome.
In order to bring your business into the unknown future, you need to know your objectives. Otherwise you won't know when you've got there. We will help you assess and set your objectives.
This will then lead on to agreeing your strategies & tactics for development. These will include areas like business, marketing, financial, cash flow, pricing, promotions, employment, debtors & creditors, etc.
What The Synergy Group will do for you:
- Analysis of your current accounts.
- Examine your financial stability.
- Discuss and prepare plans for development.
- Create a business, marketing and finance plan for your development.
- Explore all options for your company’s development. "What If" scenarios.
- Research all sources of finance available.
- Assess potential repercussions of an expansion.
- Calculate all risk factors involved.
- We will examine your resources and try to get maximum potential from them
- We will help you examine your internal operations and administration. We have seen businesses implode due to a lack of preparation here
- We will help you prepare a SWOT (Strengths, Weaknesses, Opportunities & Threats)analysis with you
- We will help you prepare a PEST analysis. This helps you prepare for things outside your control, e.g. the political environment, economic & social issues and technological advances relevant to your business.
Contact The Synergy Group and we will examine your Business Development requirements. We will look at what you need to do, what you want to do and we will pull together a plan with you.
T: +353 1 8215189
F: +353 1 8215191
M: +353 87 2326927