A business development plan refers to the planning and strategies of making more profit for the business and enhancing its performance over time to time. It also includes increasing the business operations with other businesses and acquiring more clientele from local and international market.
Why it is important for a Business to have a Development Plan?
When a business starts, it starts with small plans and short term strategies. This is important because there is no way to assess the outcomes of a strategy and the owners of a business dare to invest all of their money in the first hand. As the business grows and spends more time in the market, the strategies are changed in order to keep up to the present market trends and consumer buying behaviors. This all is the part of business development plan.
Also a business starts with a few of the clients and a small population of customers but over time, it becomes a crucial need of the business to increase its operations, productions and product line in order to attract more customers and all of that couldn’t take place without a development plan.
Here are the steps to create a Business Development Plan:
Define the type of business: This is the first step for creating a development plan for a business. Here at this step, you explain what kind of business you run and what the operations are. It also includes the products and services that your company offers to the consumers and market. For example, we are talking about a cell phone manufacturing company and it produces mobile phone devices for common consumer uses.
Explain where you stand right this moment: This is the part where you are required to explain from where you started the business and up until now, where you stand in the market. This gives a pretty good idea about your previous growth ratio and the effectiveness of your strategies and plans. In case it’s a cell phone manufacturing company, it started 2 years ago and up until now, it has gained the capacity of producing 1000 units per day and expanded the business up to 5 countries around the world.
Define your future goals and expected achievements: This is where you explain what you expect from your company and what your expectations are. For example, you can have a goal that you want your company to produce 5000 units of mobile phones each day and you want to acquire customers in more than 25 countries around the world over the next 2 years. When you explain your goals, it becomes easy to make the development plan.
Enlist strategies to overcome the risks, problems and issues: This step includes the information about how you handled the problems and issues in past and how effective your risk assessments were. This way, you can also foresee the future and upcoming issues in your company and as you have enough time to think and develop issue resolving strategies, you can take your company to the top through any type of problems and risks.
Here is preview of a Free Printable Business Development Plan Template created using MS Word,
Here is download link for this Business Development Plan Template,
Related Word Templates
Marketing Plan Template Marketing for a company can be defined in many ways but in simple and easy words, it’s the strategy or planning of advertising a company in the market. Companies and organizations can’t survive or operate without marketing these days. Yes there were times when there were no concepts of marketing or advertising and the companies used to work fine in that situation but now the markets […]
Project Management Plan Template Companies run projects all the time and it is very common for an organization to work on more than one project at once. But, no project is started without a proper management plan which provides an overview of the project to the important related people i.e. CEOs, directors and stakeholders.
The process that includes the brief introduction, explanation, responsibilities, resource […]
Health Plan Template Here are the most common types of health plans:
Health Maintenance Organizations (HMOs):
This is not the very suitable healthcare plan for the employees but as it benefits the employers the most, it is the most common healthcare plan these days. There are number of advantages and disadvantages of this particular health plan but the most important thing is that this plan is […]
Restaurant Business Plan Template Without any business plan, businesses cannot become successful. Whether you are going to open a restaurant or are going to start some other sort of business, business plan would be crucial for smooth running of your business. Business plans are well written and well structured documents that give you assurance of achievement of your business goals within defined time period while […]
Business Plan Template for NGOs NGOs are non-profitable organizations that are getting very popular day by day. They provide lots of facilitation to the people for which people like to fund these organizations. Success of any NGO highly depends on funding amount that it is gaining per annum. Although, starting up a non-profitable organization can be proved lengthy and time consuming process. If you want to start up […]
Yearly Production Plan Template Most of the time, huge or international manufacturing companies prepare production plans for the annually. This means they only prepare a production plan for the next entire year and the new plan will be implemented after 12 months or 48 weeks. This makes it really important for the company to have the exact production strategy and planning that they need in order to fulfill the […]
Lesson Plan Template Students learn a lot of different things in schools and colleges and every day they discover something new which is unique for them and it is important for the teachers to keep the students interested in the learning process so that they don’t get bored and lose interest. All this process in which the teacher plans his or her lessons and develops teaching techniques is known as lesson […]
Flight Plan Template When an airplane takes off for its destination, the pilots have all the knowledge required to take it off in the air and land it safely on the ground but there are many things that they need to be provided in order to land it safely on the ground. Elements i.e. time to take off, the air path for the plane, required altitude for the plane, fuel capacity and consumption of the plane, […]
Quality Control Plan Template Quality plans are written to specify the standards by following which, companies complete their product manufacturing process. All businesses are running with the idea of providing best and quality services and products to end clients. When a company meets or exceeds the customer’s expectation it becomes the evaluation of company’s performance and ensures that timely completion of […]
Emergency Response Plan Template Existence of life is usually unsure, all of us might have to deal with unpredictable circumstances in many job areas involving lifestyle intended for which all of us will not be organized. This really is thought to be unexpected emergency. Most of us typically dismiss the item and make virtually any strategy to cope with these kind of conditions. No-one can ascertain this emergency […]