How to create an integrated business plan
Running a business is no simple task. Businesses have a lot of teams, divisions, and departments. All of those things must work together for success. Thankfully, if you run a business, you do have some options. For example, an integrated business plan (IBP) can help you keep everything running smoothly.
An IBP takes a systematic approach to business. It helps multiple departments work toward the same goals. This kind of planning works especially well for long-term goals. Thanks to IBP strategies, businesses can avoid confusion, increase cooperation, and even increase revenue. This kind of planning provides a clear-cut pathway to your business goals. Whether you want to grow your company, increase sales, or do any number of things, strategic planning can help. So, how do you create this kind of strategy? Take a look at the steps below.
Identify Your Goals
First, decide your most important goals. Your goals will provide the backbone of your IBP. This step can get challenging, but it’s crucial for success. After all, you can’t work toward goals that you haven’t defined.
Ask yourself what you want most for your business. What would success look like for you? Picture your company a year from now. How does it look different from your company today? Whatever your goals look like, make sure that you define them and communicate them clearly. Once you’ve defined your goals, your IBP can help you work towards them.
Break Each Goal into Smaller Pieces
Now that you have broad goals, break them down into smaller pieces. When you break your goals down into smaller pieces, you can measure your success more easily. Plus, breaking down your goals can help you avoid getting overwhelmed.
For example, say you want to increase your revenue by 40% within a year. You can break that goal down into increments of 5%. From there, you can decide how you will achieve each increment. You might set weekly goals, which can help you track your progress. These small steps can keep you moving toward your main goal.
Create a Timeline for Your Goals
Next, determine your timeline. When would you like to accomplish each goal? The more specific your timeline, the better your chances for success. For instance, take another look at the example above. For a 40% revenue increase, your timeline might include a 10% increase for each quarter. If your business achieves that increase, you’ll know you’re on the right track. If your business does not achieve that increase, then you can reassess your strategy.
Decide How You Will Measure Success
No matter the size of your company, you want it to remain successful. The above steps can help you define what success looks like for you. Now, you’ll need clear ways to measure that success. You might measure your success in dozens of ways. Possibilities include:
- Repeat customers
- New customers
- Customer satisfaction
- Revenue increases
- Marketing engagement
Choose the metric that most closely relates to your goal. This way, you can stay on track and avoid confusion.
Use IBP Tools to Stay Organized and Maximize Success
Finally, understand that you don’t have to manage your IBP on your own. Consultants, software, and other services can help. These options can take you through each step. You might consider one of these choices if you have a busy schedule, struggle with organization, or just want to make sure you maximize your strategy’s potential.
In any case, having an IBP can take your business to new levels. It can help you keep growing so that your business becomes everything you want it to be.