Before developing a business strategy, it’s important to understand the current state of your company and identify potential opportunities and challenges. This might involve researching trends in the market, analyzing competitors, and speaking with potential customers to identify their needs and pain points. Based on the insights gained from market research, a business plan can be developed that outlines the company’s goals, strategies, and tactics for achieving success in your industry. This plan should include a detailed financial model that outlines revenue and expense projections and identifies potential funding sources, such as revenues gained from clients, external investors, or traditional bank loans.