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The thought process behind the operational and financial plans allow you to develop a strategic business plan with continuous nurturing as your business grows.
See the main section on business planning for more detailed business planning templates, tools, examples and processes.
This planning report structure can also be adapted for operational and departmental planning of all sorts - the same principles apply.
The operational plan identifies internal risks to the business such as partnership risks or your production capability, and external risks such as political and economic influences.
The operational plan outlines your strategy for risk reduction.
Our professional business plan writers can tell you that the Operations Plan is a critical component of any business plan as it presents the Company’s action plan for executing its vision. The processes that are performed to serve customers every day (short-term processes) and2.
The overall business milestones that the company must attain to be successful (long-term processes).The milestone projections presented in the Operations Plan must be consistent with the projections in the Financial Plan.In both areas, it is important to be aggressive but credible.If your operational plan is outdated, it will have an effect on your hiring, training and future directions.Similarly, growth requires storage space for new products, delivery mechanisms for new services, as well as new equipment, all of which require adjustments to the financial plan to reflect accurate cash flow.Presenting a plan in which the company grows too quickly will show the naivetÈ of the management team, while presenting too conservative a growth plan will often fail to excite the potential investor who will require a high rate of return over a relatively short time period.Don’t you wish there was a faster, easier way to finish your business plan? The operational plan runs the business, whereas the financial plan is the bread and butter. An operational plan and a financial plan are elements of your business plan that support each other to move your business ahead in a chosen direction.The financial plan focuses on price outlook, historical data, inventory planning and identifies other risks which can affect your profits.As your business grows, your financial and operation plans will change as well.