Business planning process for existing business in a small, emerging organizations

Most of the Small, Emerging firm's business head think that business plan is meant for banks/finance institution to get financial assistance when they start a new business or expanding the existing business.

Actually, in the existing business itself, the business plan needs to be done at least once in a year irrespective of expansion or new plant. This planning process drives your thought process to navigate future opportunities and challenges in a proactive manner.

What is business planning or preparing a master plan is all about?

1. Visualizing the future opportunities/threats
2. Anticipating the risk
3. Proposing counteractions
4. Preparing your organization for next-level growth

How to do business planning for your business?

Inputs required for business plan

• Industry Trend / Changes in the business environment
• Volume forecasting/projection for the next 3 years
• Your organizational goal aspirations on profitability and growth 
• Customer segment or new customer's opportunity 
• 
  

Planning areas

Likely output from business planning Process

• Organization structure / Engagement initiatives
• Financial plan
• Organization development plan
• Initiatives on productivity/cost and quality aspects
• Product portfolio / business model / integration / diversity plan
• Marketing initiatives

This is a collective visualization and introspection process to make your organization to manage any uncertainties as well as to prepare your organization for future!