Friday, 30 March 2012

What Do I Include In A Business Strategy?

If you are at the point of developing your business strategy and would like a checklist of inclusions then this blog is for you.

You first need to articulate clearly what your business idea is and why it should be successful.

Finances are the next area to consider in full and ask yourself the following questions:

  • What do you expect your turnover to be in the first, second and third years? 
  • After costs what is your profitability? 
  • What are your funding investor, lender requirements? 
Profitability is key. So many businesses go to the wall despite high sales due to cost management issues.

Key personnel is the next consideration so ask yourself the following questions as well:

  • Who has the requisite qualifications and experience in the market and what is their financial status?
  • If the business is already operating what is the history of the business and its ownership?

However, the following is a full list of checklist of inclusions for developing your business strategy:
  • Customer (and potential customer) numbers, profile and mix and expected growth in use of services, products
  • Customer perceptions, needs, preferences, buying patterns, and trends (by sub-sector if necessary)
  • Products and services, mix, values and trends including unique selling point and ideas for new services and products
  • Demographic issues and trends - especially if dependent on consumer markets
  • Future regulatory and legal effects
  • Prices and values, and customer perceptions in these areas
  • Distribution and routes to market
  • Competitor activities, strengths, weaknesses, products, services, prices and sales methods
  • Intangible assets and protection - for example, copyrights and trademarks
In terms of a physical layout and structure on paper and on-screen your business strategy should have and be organised into the following sections:

  • Title, version number, author, date, company/organization if applicable, details of circulation and confidentiality
  • Contents page - sections with page numbers, plus a list of appendices, allowing the reader to find what they need and navigate the document easily and to refer others to particular items and page numbers when reviewing or querying your strategy
  • Introduction and purpose of the plan with terms of reference
  • Executive summary page - no more than a page long - what the business is, market and potential and financial returns on investment
  • The Business Strategy - split into clear sections
  • Appendices - detailed reference material, examples, statistics, spreadsheets, for reference and not central to the main presentation of your plan.
In summary your business strategy is a document which spells out how you will achieve your vision and mission (see earlier blogs for an explanation of these).

Meanwhile, other documents to develop include the following:

  • Values and ways of working - including business ethics and responsibilities wider than the business itself such as sustainability
  • SMART (Specific, Measurable, Achievable, Realistic and Time Framed) Business Objectives
  • Operational and Programme Plans.

Let us know how you get on or if you would like to work with a business coach in developing your business strategy please get in touch via our website West of England Coaching and Counselling.


  1. I have been approached recently by several organisations working towards achieving greater diversity within their workforce. For many, their focus is ethnicity, but with several the focus appears to be gender. It's an interesting situation to find yourself around a table with 6 men, looking very worried, asking for your help.

    Women Executive Coaching

  2. Finance, human resources, and marketing are the 3 key areas that you must include in your business strategy. Analyze and identify the company’s needs in every key area. Then, work on each and implement the solutions you have devised. If one fails to work, identify the areas that you need to improve on. Repeat the cycle until you find out the perfect strategy for your business.

  3. This is a very Useful and Good Blog about Business Strategy. There are many Blogs about How to Handel your Business Strategy but it is Useful Thanks for Sharing It.
    Business Strategy

  4. As part of my executive coaching programs in Medford, I constantly preach to my executive-level clients that if they want to succeed it's important for them to think grassroots. Go back to the beginning, to start-up phase. Understand your product/service, your objectives, and what the end-goal is. Now, chart your path to success and create a check list that will guide you along the way. It's easy to become complacent and get comfortable, however, you will not succeed without a roadmap.

    - Gary M.

  5. Great blog post. I used to be checking continuously this blog and I am impressed! Extremely helpful information specially the closing phase :) I deal with such info a lot. I used to be seeking this particular information for a very lengthy time. Thanks and good luck.
    Madden 16 guide

  6. Great blog post, informative list. Thanks so much. I’m enjoying devouring your site!!

  7. Your blog is Amazing. Very nice thing you are provide in your blog. It give me much help to my problem.
    Visit :- Madden 16 guide

  8. Your blog is Amazing. Very nice thing you are provide in your blog. It give me much help to my problem.
    Visit :- Madden 16 guide

  9. Business consulting is the main job for maintaining the clients with their speaking skills. So that your sharing is very helpful to learn.
    executive business coach

  10. Thank you for providing me a informative blog. I enjoyed it thoroughly, it helped me a lot for what i was searching for. Keep it up. For more details about
    Online Casino Visit: Online Casino

  11. Every businessman has their own business strategy by following while they manage their business and try to get the more out of it. It's not just a single mind the works behind a vast business empire but there are number of master minds. This article is a good guidance for the new businessmen and it is definitely helpful to lead them towards success. There are always ups and downs in a business so the entrepreneur need to have patience and look forward for the upcoming opportunities. Often it is better to take the advice of a Business coach to have an equilibrium in your business. Also it can be helpful to overcome the hurdles in the path to success. Business Coach.

  12. Great post, very interesting. Thanks for sharing it! By the way, I just found out how easy microsoft dynamics 365 implementation actually is! My business will surely thank me for making this decision.