Business Plan: Operation Plan | Operation With Excellence | Part 1

We've discussed the marketing and financials of a successful business plan. Next, we move on to the operations component of the plan. Success in your marketing and recouping any funds invested in your business will be dependent on how business operations are operated. 

You will need to consider who will actually be involved in daily operations, what the business hours will be, how many hours a day will you be open to gain the maximum profit, where you will be located, and include the technology plan you will implement. Deep thought should be given to this section as how you operate will distinguish you from competitors and hopefully give you an advantage over them as well. Your goal is to implement a strategy that will give you the most profit, use your time most productively, and capitalize on mistakes of others in your industry to make your business better. 

Think about what it is that causes customers to leave a storefront, or click off a webpage. What are things that cause you to feel companies are incompetent or very efficient? Never allow your business mind to over take your common sense and observations as a consumer. Find a balance between the two that allows you to use your business sense to the best of your ability and incorporate what you know from your experience with brands, vendors, and businesses. 

Key components to this section include:

• Facilities -- comprehensive information to include size, costs, location, lease terms, & any special considerations.
• Manufacturing / Production Plan -- how will you produce your product or service? Be detailed. Being specific will allow you to immediately notice processes that can be eliminated to make workflow more efficient. How many people will it take to produce your product? 
• Equipment and Technology -- This section will include everything you plan to use from a printer, fax, and copier, to mobile apps and scanners, desks, types of laptops, everything. To include everything, start from the beginning of production, to the end of your product / service. Write down every piece of equipment that is involved in making your business run. You will need price information as well. 
• Variable Labor Requirements -- Do you need the same workforce at peak hours that you need in the morning? How many part time or full time employees will you need? What types of skills will you need these people to possess? Try your best to gain the best value from your workforce as possible by hiring people with several skill sets, that can fulfill several roles. Make sure you have accounted for their cost to the company, and develop a salary to attract the most efficient and productive type of employee. 
• Inventory Management -- How will you maintain accountability? How you will make sure you always have what you need on hand?
• Supply and Distribution -- Where will you get your supplies? How will you get it to your market? What channels do you need to make the process as efficient and cost effective as possible?
• Order Fulfillment and Customer Service -- How will customers place orders and how will you deal with their needs, complaints, concerns, and questions? What steps can you take to develop FAQ's, customer feedback plans, and surveys beforehand to be prepared for the success of your company?
• Research and Development -- How will you stay abreast of the most cutting edge developments in your industry and make sure you are incorporating them into your business? How much money and time will you allocate to this? Some companies will only need to pay for conferences and classes to be competitive in the area while others will have to be more aggressive. Technological, medical, automotive, and technical fields must invest a lot of time and money in this area if they want to remain in business.
  
  
  
• Quality Control -- Deming was a business guru that was able to revitalize a dying industry because of his belief in continuous improvement. How will you maintain the standards of your product or service? Are there federal requirements? What process will you employ to keep the reputation of your business in good standing by producing quality products or services?
• Safety, Health, Environmental Concerns -- Extremely important section. What does the federal and local government require for operations and disposal of the materials you are using? Are there any posting requirements you must have in your facility. Time spent on this section will save you money with law suits and liability issues. Ignorance to the law is no excuse for the law; employees are entitled to work in an environment free from health hazards. Obviously, some industries have inherent risks involved, and www.OSHA.gov will answer any questions you may have about your workplace.

Other considerations and the technology plan specifics will be posted in part 2. Stay tuned.

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