Keys to Success

Keys to success can mean many things. It really depends on what you, the entrepreneur, need for your business plans. Business plan keys to success, however, always deal with the strengths of your company. Business plans, no matter what industry, should always stress every possible strength of your company. They should always display your company's strongest attributes. They should also always refer, even obliquely, to where you are basing your business. For instance, if you are locating your existing or start-up in a big city like Chicago, one of your keys to success should address where in Chicago you will be basing your business. Also, how does your location (and your company, for that matter) help your target market?

If your business plans are focused on a more suburban market—you're not necessarily going to be in Chicago—maybe you want to be in Evanston or Urbana—you should list how a suburban location will enable your company to be a success. Aside from location, you should also list what your company will bring to the market you are targeting. If you are an IT consulting firm, you should definitely list your streamlined organizational structure and network architecture specialists. After all, any number of businesses will be glad to know you will be bringing that to your industry.

The ultimate aspect of the keys to success is that it is customizable to your business and industry. If you are a restaurant, your keys to success will be focused upon good parking and/or exceptional food quality. Following this chain of logic, your business plans might want to list any kind of internal logistics to your company, as well. Management controls and how you will handle inventory, for instance. If you bring anything unique to your target market or if you are offering a brand new service or product offering. All of these items should be a part of your business plans keys to success.