The Business Plan
Have you got a Business Plan?
I have been surprised to discover that many businesses don’t have a business plan, even more surprising though is that this includes some quite sizeable companies. For those applying for loans, or government funding schemes a business plan will be an essential requirement. However, whether you’re a new or established business I urge you to take the time to write a plan.
A business plan can bring real focus to an organisation. It doesn’t have to be a lengthy document and we can provide template options, the main areas to cover are as follows:
The strategy is the driving force of the business, the resulting actions will be the road map. Having a plan is a way of keeping focused and on track. A business plan brings together all the key elements of your market and proposition.
A business plan should identify its target customers, ideally these have been identified through existing or commissioned market sector research. It should state what problems it is solving for your customers and estimate the size of the market. It will determine the USP (unique selling point), the brand values and identify the people involved that will drive the business forward.
This is one of the most useful and insightful sections. What are the operational costs? How much will the products be sold for for? How much profit is there? What is the forecasted turnover/profit for the next 5 years?
Starting To Plan
We have a programme designed to help take stock and for then helping businesses to plan. It’s the 7 Stage Business Builder, and is outlined at the link below. If you would like help developing a plan for a new or established business please contact us and we’ll be happy to help.
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