Business Plan

As a product manager, one important thing is to draft business plan. Perhaps, each plan has its own features, but there are still some in common, because the topic, the central idea is almost the same. It is to answer several key questions.

The first one is where we are. Which status, what place are we now? To answer this question can be from many aspects.

A. about the product. This aspect includes the product life cycle, the profit, the contribution to the entire company, etc.

B. about sales team. This point is just to make us consider how well the sales team does.

C. about the product rpice. In terms of this point, we need to consider competitors, market share. The price is suitable for the value proposition.

D. about promotion. How about the impression of the customer to our products. The effect of the advertisement should also need be considered.

E. about the distribution strategy. The question whether the present distributors fit our strategy, how about their performance, also needs to be evaluated.

F. about the market trends. This point includes technology evolution, economic change, etc.

The second one is to confirm where to go in a long term. On this aspect, we always need to follow the whole company's propect and also the product prospect.

The third one is to make a detailed plan for this year. What must we do this year? and How much should we achieve?

Then, one thing is how to get this target. What method we can take to reach the goal is the key. Finally, we also need to assess how much we have reached the goal, whether we have deviated the plan. We need corresponding index to check this point.