This course is for aspiring entrepreneurs or those who have already begun, but seeking guidance from a Small Business Administration expert.
The lean business planning method is about taking small steps, consistent tracking, and frequent course corrections. The lean plan itself only includes what adds value to management, without waste. The plan itself is lean, small, streamlined for internal use only, just big enough for optimizing the business. A lean business plan has four essential parts:
- A bare-bones description of strategy for management use only. It's probably just bullet points, not an elaborate text. It's a reminder for the team.
- Another bare-bones description of the important tactics; again, for management use only. The play defines tactics you take to execute strategy, such as pricing, marketing, product or service development, financing, and so forth.
- A measurable and trackable schedule for regular monthly reviews, plus assumptions, milestones, tasks, and the numbers and performance indicators you want to track. Milestones can include dates, deadlines, number of customers, and budgets. Tasks can include responsibility assignments and budgets.
- Essential forecasts including sales, spending, and cash flow.
Instructor: Earl Gregorich, Outreach & Marketing Specialist