Business Planning by Patrick Forsyth

By Patrick Forsyth

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However, since sales and profits can only be made from customers in the markets we select, the first task must be to translate the financial objectives into market objectives. ’’ Meaningful answers can only be produced by considering two interrelated analyses. THE STATE OF THE ART FORM 1 FINANCIAL GOALS Financial Objectives Revenue (by product) A B C D Total Costs Profit Comments: Fig. 1 Form 1. Last years’s actual Next year’s plan 45 46 BUSINESS PLANNING FORM 2 STRENGTHS AND WEAKNESSES Company Strengths Action: Fig.

How well can you afford to keep in direct touch with on-territory visits? » what can you do from base and what must be done on the ground? THE GLOBAL DIMENSION 35 » how will prices be set (including discounts if you go through intermediaries like distributors)? » what other additional costs are involved? g. landing charges or air freight if things are urgent). Such a list can only be a starting point. Many questions must be considered and answered before initiatives can be taken in this area.

What is the customer profile? The target audience » Types of people/organization? » What are their buying habits? » What motivates buyers? » What are their current attitudes to promotion? The products/services we offer » What is our current performance? » What are the strengths and weaknesses? 58 » » » » BUSINESS PLANNING What promotional support has it received in the past? Capacity available? Market profile/image? e. is it seen as new and interesting or old and dull)? Organization of the firm » What are our current sales and promotional methods?

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