Insight into Business planning

Plan! Plan! Plan!

A “Good” Business plan helps you assess, research and formulate a timed strategy to build a strong foundation and a sturdy route for growth for your business. The “Right” Business plan also helps you to get the funding you need!

To do the right business plan , you need to write it yourself, and put in your passion, belief and your character!  Your business plan is a reflection of who you are and of your dreams to a third party! It will and should then become more personal to you and a part of you- like a diary!

It may seem impossible to you or simply a chore! but We will work with you to make it work and guarantee that you will see the benefits of your efforts whilst you are completing it.

It will clarify your route and help see the path you need to take to make it a success!

It will bring order to all the plans in your head and help you formulate a strategy and the right timings which will be manageable and realistic!

 A few examples of Key points to consider:

For funding:

  • Remember the bank/funder is not just investing in your business, but also in you as a person- so provide a good chronological but relevant history of your skills, experience and background showing your entrepreneurial skills and knowledge. Experience in your field is also key.
  • Your business Objectives must be broken down over 3 years and backed up by your marketing strategy and cash flow forecast. Each must be able to back up the other.
  • Write simply and clearly. Do not expect everyone to know about your type of business or how it is run.
  • Do not write too much. Provide the information required by the funder- no more 0r less! Going over or under can actually ruin your chances.

For You and Your business:

  • Research your Market and your target market and competitors thoroughly. This will help you realise how much demand, if any, there is for your product or service , and if it needs to be adapted in anyway.
  • Assess and breakdown your Capital Equipment requirements and your terms of payment- this will help you to consider the different funding options you should or could consider. This could be of benefit to your company.
  • Play around with your figures in your cash flow to help you determine how much sales you need to target for to make your business growth viable, or if you need to change your strategy or product/service options.