Things like: Could you grow faster with more money? What are your headcount assumptions? How much are you spending on marketing expenses? What are you assuming for payments and collections lags?
Writing a business plan may seem like a big hurdle, but it doesn`t have to be. You know your business—you`re the expert on it. For that reason alone, writing a business plan and then leveraging your plan for growth won`t be nearly as challenging as you think.
By having a written business plan that you`re regularly reviewing, you can make confident decisions. You`ll have all the information necessary to know when you can hire new employees, launch a new product line or make a major purchase. At the same time, you can also plan ahead in case a decision doesn`t work out as expected, minimizing your potential risk.
If you expect to be the market leader in 2 years, you need to demonstrate why this is possible and how you`ll meet this goal. If you say your product will be viral, you have to support this statement with facts and a strong analysis explaining why people will like your product or service and how they`ll help you promote it.
There is value in doing an ample amount of preparation prior to creating a business plan: you construct creative solutions to complex problems. Make sure to take the time to do the job properly. Additionally, be sure to keep detailed notes on your sources of information and on the assumptions underlying your financial data.
The vision should include tangible goals such as profits and market share, but more importantly, it should focus on the intangible/unquantifiable long-term goals, such as your willingness to adapt, emerging business-trends, and an ever-present desire to `excel.`