The secret to a great B-Plan is - the plan is supposed to be viewed by management as a living document: should be concise and accurate. It is a constant guide to high performance and corporate success. The plan should be meticulously designed by the leaders by defining who the customers are, by the numbers, with specific measurable demographics: know everything about the buyers including what they watch, read, and hear. The management and leaders should know the targets better than their own family. You should know the answers to the "What(s)": customers need, want to buy, will pay, "When(s), Where(s)" and "Why(s)": the need to buy; basically the emotional components as well as the utilitarian purposes. The skill of analyzing the augmented needs of the market to forecast what the consumer might purchase in the future even before the customer knows he will need it. The B-plan should reflect about the set specific priorities with key objectives that the business will achieve through the correct resources. The financial plan should be defensible and accurate, with backup plans in the event of unseen consequences.
As a conclusion, a great plan is developed by people with deep knowledge and experience. They possess a strategic mindset. They have a clear vision of where they want to be and how to reach their destination. And, most importantly, they achieve desired results based upon a clear road map. Perhaps these insights can be of value as you consider your own business plan. If you are developing a plan for your first business, you should engage the help of people who met the criteria as discussed here. It will be well worth the additional effort.
