If you're already in business, it helps you to step back and look at what's working and what you can improve on. Processes and procedures can also improve the consistency of product and service delivery by your staff.
It can also be too internally focused, failing to account for external factors or to learn from the experience of other sectors or similar organizations. In addition, what success will look like for each strategic objective should be clear, with specific performance goals, indicators, and milestones identified for assessing progress.
What are the company's historical and projected financial statements? Organization leaders must make strategy come alive by providing their staff a consistently vivid strategic narrative that is relevant to their day-to-day activities.
What are the risks and threats confronting the business, and what can be done to mitigate them? Staff can get more done in less time by following set processes and procedures, and you can spend less time overseeing the day-to-day running of the business. In such situations, one may need to develop two versions of the business plan: a stripped-down plan that can be used to develop a relationship and a detailed plan that is only shown when investors have sufficient interest and trust to sign a Non-disclosure agreement.