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How Business Plans Work


Strategies

Look back at your objectives from the Business/Concept section. How are you going to achieve them? This is the section of your business plan where you can really get down to the meat and potatoes of how you are going to make those goals and objectives a reality.

For each goal, assign a strategy. For each strategy, describe your tactics -- how you will implement the steps to reach it. Finally, identify the details such as the milestones and specific activities that will help make it succeed.

For example, if your goal is to take 20% of the market within the first two years of operation, then your strategy might be to offer the most stress-free buying experience for your customers. Your tactics could include setting up a 24/7 customer service hotline, and offering an unconditional satisfaction guarantee. The specific steps and milestones of this plan could include week-long, customer-oriented training sessions for your sales staff, establishing a live Web site help desk, paying the return postage for customers who were unsatisfied with your product, and conducting customer surveys to determine and improve satisfaction levels.

In the following sections, we'll discuss the two main strategy areas: marketing and sales.