10 Key Questions For Strategic Business Planning

If you have started or are about to start a business, you have probably thought about what your ideal business will look like. Presumably, you are doing something you want to do and strongly believe in. It may even be your lifetime dream to run your own business. So you have a lot at stake for designing the right business for yourself. Here are 10 strategic business planning questions to ask yourself.

1.What are your goals for starting the business? What is your company's vision or purpose? Why does your business exist? What are your personal and professional goals?

2. What type of legal entity is it? In the US, you can set up your business in a number of ways: sole proprietorship, partnership, LLC, corporation.

3. Who owns the company? If you have partners, what percentage does each partner own? What are their roles?

4. Where is it located? What geographical area do you serve? Do you work in an office building or from home?

5. What resources are available to you? What resources do you currently have (money, time, employees, vendors, technology, people in your network, your strengths and talents, opportunities, threats facing your business)?

6. Who do you serve? Describe the types of customers and clients you serve. What are their demographics and motivations for buying? What are their wants and needs?

7. What problem do you solve? What is the biggest problem or pain your customers and clients have that your products and services solve? What do customers expect when they purchase a solution? What type of results do you promise? How does your solution make their lives easier or better?

8. What does your company sell? List what products and services you offer and how much you charge for each.

9. How do you deliver your products and services? When someone buys your product or service, how do they receive it? Do you serve them directly? Do you use distributors? Do you sell over the internet?

10. What kind of support do you provide? What's your policy on product returns? What do customers do if your product breaks? What are your support hours? How do people receive help: call a hotline, receive on-site support, or send an email?

Strategic business planning doesn't have to be difficult or overwhelming. In fact, it can be boiled down to two key principles: (1) determine what your market wants and (2) give it to them.

If you would like more help determining what your market wants or how to differentiate your products and services from your competitors, download your free 45-page strategic marketing plan guide today at http://www.getclientstoday.com. This hands-on workbook covers the 6 steps for creating your marketing strategy and includes a fill-in-the-blank marketing plan template you can use to craft your monthly marketing plan.