The Importance of a Business Plan

Before you can begin putting together an effective marketing plan, it’s important to make sure you have a business plan in place. Today Andy talks about understanding the long term and short term goals and objectives of your business, before you start planning your marketing.

One of the things I wanted to talk about today in developing a strategic marketing plan is having a strategic BUSINESS plan. You’d be surprised how many times i’ve met with business to talk about a marketing plan, and as we dig a little deeper, we find out there’s not really a business plan for the company.

• It’s important to identify what the long term and short term goals and objectives are, what numbers you’re trying to reach on a monthly, quarterly, and even annual level. Look at these in terms of the company in general, apart from your strategic marketing plan.
• As a business owner, you need to have a planning document that maps out and helps you understand the direction of your business, the key objectives, and what you’re trying to accomplish in the short and long term.
• Check out Gazelles.com  – one page plan for how you’re going to grow your business.
• If you’re looking at doing marketing planning, make sure you have a business plan – your marketing plan should be an extension of that.

If you are looking to build a smarter marketing plan, try using a tool we’ve built called PlanBold.

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