How can you create a corporate advisory plan for your small business?

A corporate advisory plan is a strategic document that outlines the goals, challenges, and solutions for your small business. It can help you identify opportunities, manage risks, and optimize performance. Whether you need to raise capital, expand your market, or improve your operations, a corporate advisory plan can provide you with the guidance and support you need. In this article, we will show you how to create a corporate advisory plan for your small business in six steps.

1 Assess your situation

The first step is to assess your current situation and determine your strengths, weaknesses, opportunities, and threats. This can be done by conducting a SWOT analysis, which is a simple tool that helps you evaluate your internal and external factors. A SWOT analysis can help you understand your competitive advantage, identify your gaps, and prioritize your actions. You can use a SWOT matrix to organize your findings and visualize your position.

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Dr. Anil Gupta (Guru)

Chairman @ CONNECT VENTURES INC | Cross-border Business Coach & Consultant, helping to incorporate company in USA UK Canada UAE Singapore. All foreign country compliance under one roof. IRS Authorized E-Filing Provider
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I believe that the journey of planning starts with the measurement. The measurement can be multi-dimensional. You can create the SWOT analysis to understand a better 360-degree perspective. SWOT is nothing but the acronym for Strengths, Weaknesses, Opportunities, and Threats. Besides the SWOT, you need to identify the stakeholder analysis to understand who can affect your business and in what ways, how you can take benefit of positive effects, and how we can protect from negative stakeholders who may affect the business negatively.

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Miriam Wexler

Business Coach | Top 50 Event Planning Voices | Award Winning Event Planner | Helping Event Professionals Grow, Scale, & Thrive | Empowering You to Build a Profitable & Sustainable Event Business
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I believe that a well-structured corporate advisory plan can be a significant asset for your small business, helping you navigate challenges, make informed decisions, and achieve your long-term goals. A key step is to identify who the key stakeholders in your business are. These may include owners, board members, management team, and external advisors. Understand their roles and responsibilities in the advisory process. Once those have been identified, you need to select an advisory team. Choose experienced and knowledgeable advisors who can provide guidance in areas that are critical to your business. This might include financial advisors, legal counsel, industry experts, or mentors.

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2 Define your objectives

The next step is to define your objectives and what you want to achieve with your corporate advisory plan. Your objectives should be SMART, which means specific, measurable, achievable, relevant, and time-bound. For example, you might want to increase your revenue by 20% in the next year, or enter a new market by the end of the quarter. Your objectives should align with your vision, mission, and values, and reflect your core competencies.

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Dr. Anil Gupta (Guru)

Chairman @ CONNECT VENTURES INC | Cross-border Business Coach & Consultant, helping to incorporate company in USA UK Canada UAE Singapore. All foreign country compliance under one roof. IRS Authorized E-Filing Provider
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Once you assess your situation, you will have clarity for your goals and objectives. The objectives are translated from goals. While Goals may be qualitative, objectives must be SMART (Specific, Measurable, Achievable, Relevant, and Time-bound) so that you can define the plan, strategy, and schedule to meet the objective.

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3 Identify your options

The third step is to identify your options and explore the possible ways to reach your objectives. You can use a brainstorming session, a mind map, or a decision tree to generate and organize your ideas. You should consider the pros and cons of each option, as well as the feasibility, costs, and risks involved. You should also research the best practices and trends in your industry, and learn from the experiences of other successful businesses.

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Dr. Anil Gupta (Guru)

Chairman @ CONNECT VENTURES INC | Cross-border Business Coach & Consultant, helping to incorporate company in USA UK Canada UAE Singapore. All foreign country compliance under one roof. IRS Authorized E-Filing Provider
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Once you define your SMART objectives, you need to identify that what are the possible ways to achieve the SMART objectives. For objectives, you may have multiple ways to do things but you must make an alternative analysis to choose the best options, which are feasible for you, have enough resources, and with minimum risks involved

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4 Evaluate your alternatives

The fourth step is to evaluate your alternatives and select the best ones for your corporate advisory plan. You can use a scoring system, a SWOT analysis, or a cost-benefit analysis to compare and rank your options. You should also test your assumptions and validate your hypotheses with data and feedback. You should aim to choose the most effective and efficient solutions that match your objectives and resources.

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5 Develop your action plan

The fifth step is to develop your action plan and outline the specific steps you need to take to implement your solutions. Your action plan should include the tasks, responsibilities, timelines, and budgets for each activity. You should also define the key performance indicators (KPIs) and metrics that will help you measure your progress and results. You should use a Gantt chart, a project management software, or a checklist to organize and track your action plan.

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6 Review and update your plan

The final step is to review and update your plan regularly and adjust it as needed. You should monitor your performance and outcomes against your objectives and KPIs, and analyze the data and feedback you collect. You should also evaluate the impact and effectiveness of your solutions, and identify any issues or challenges that arise. You should use a feedback loop, a report, or a dashboard to communicate and document your findings and actions.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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How can you create a corporate advisory plan for your small business?

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1 Assess your situation

2 Define your objectives

3 Identify your options

4 Evaluate your alternatives

5 Develop your action plan

6 Review and update your plan

7 Here’s what else to consider

Business Services

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How can you create a corporate advisory plan for your small business?

1

2

3

4

5

6

7

1 Assess your situation

2 Define your objectives

3 Identify your options

4 Evaluate your alternatives

5 Develop your action plan

6 Review and update your plan

7 Here’s what else to consider

Business Services

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