How to Create a New Venture Strategy Plan
Originally published: 18/11/2019 11:28
Publication number: ELQ-53312-1
View all versions & Certificate
certified

How to Create a New Venture Strategy Plan

Discover the 10 Key Components Of Every New Venture Strategic Plan. This is key to entrepreneurial and business success.

Introduction

Deciding to be an entrepreneur is a lifestyle move, and should be part of a long-term strategic plan. You shouldn’t be making this decision just because you are mad at your boss, or you would like to be rich, or someone else thinks you have a good idea. In these changing times, if you already have a startup, with no plan, maybe it’s time to think ahead for a change.


Formally, that’s called developing and maintaining a strategic plan. Usually that means writing something down, since it’s hard to maintain something, or track yourself against it, if it’s not written down. From my experience, and the experience of other entrepreneurs, here are the key elements you should think about as part of the process:

  • Step n°1 |

    Personal interests and aspirations.

    Do you love managing your own schedule, overcoming obstacles, starting a new adventure, facing financial risk, and relish the opportunity to change the world? Money should not be the big driver here.

    How to Create a New Venture Strategy Plan image
  • Step n°2 |

    Right idea at the right time.

    Do you believe that you have an idea for a company that you can implement better than anyone, and maintain a competitive advantage? If you are thinking nonprofit (social entrepreneur), can you rally the world around your cause?

    How to Create a New Venture Strategy Plan image
  • Step n°3 |

    Take inventory of what you have.

    Look critically at yourself and your existing organization for strengths, weaknesses, opportunities, and threats (SWOT). What resources do you have, skills and functions, and what do you do best?

    How to Create a New Venture Strategy Plan image
add_shopping_cartContinue reading for free (70% left)

Reviews

  • Be the first to review this How-To Method

    Write a review


keyboard_arrow_leftkeyboard_arrow_right

More Best Practices from Marty Zwilling

See all
keyboard_arrow_leftkeyboard_arrow_right

Any questions on How To Create A New Venture Strategy Plan?

The user community and author are here to help. Go ahead!


0.0 / 5 (0 votes)

please wait...