Writing a business action plan is something you don’t do that often. You’re probably wondering: “Why on earth would I want to write a business action plan?”
First of all, it enables you to get more insight into your company or product. You will be able to see which key factors are lacking or booming. Key factors are things like social media, accessibility, customer satisfaction, innovation …
However, you might wonder: “How am I going to find these key factors?” That is actually not as hard as it seems. A wonderful tool to start finding these key factors is the business model canvas. This allows you to analyse your client and/or product, shareholders, stakeholders, relationships, costs and revenue streams. This will lead you to think about our clients mission and vision.
It is important to find ten keywords that are important to your case. Think of the goals of the company and/or the product you want to improve. What are the ten most critical objectives (= Critical Success Factors) of your company and/or product?
When you have found these ten Critical Success Factors, try to group them into several categories and try to link them to eachother. This technique is called a strategy map. If you are unable to link two key words, the CSF probably does not belong in there.
To verify if your objectives are acceptable for your organization, you can measure them. This approach is called a scorecard. This allows you to evaluate your success of the product and/or the organization (= Key Performance Indicators). It takes a while to measure all these indicators as they are all based on quantitative data.
Based on the scorecard you just made, you can start building your action plan. This plan can be about improving marketing strategies, redesigning your website, managing your staff, et cetera. Writing a business action plan and implementing it, can drastically boost your company. Good luck!