Writing a Business Plan

 

Writing a business plan is one of the most important things you can do at start up, as it allows you to clarify your objectives and set a direction for the business. With over 20 years of experience, we can help you to develop a business plan that helps you to achieve success!

 

To develop an effective business plan we would recommend performing a SWOT analysis on your business. This looks at the Strengths and Weaknesses of your business and allows you to look at what Opportunities and Threats surround it. We can help you to format a plan that is specific to you but as a general rule we would include the following:

 

Business Description

 

This section should include information on who you are as a business. It is a chance to capture your primary objectives and your mission plan. You should try to capture your aims as comprehensively as possible and describe why you think your business will succeed.

 

Management Description

 

In this section you should include a detailed profile of your management team. This should include information on your organisational structure and provide information on their expertise. You should use this section to explain why your team are competent and will deliver the results as set out in your objectives.

 

Financial Strategy

 

A key component of your business plan is your financial strategy.  This is extremely important if you are presenting your business plan to potential investors/lenders. We would recommend including projected balance sheets and profit and loss reports as well as a cashflow analysis. It is important to be as accurate as possible with this. It is also important not to include overly optimistic projections as these may portray your business negatively at a later date.

 

Sales & Marketing

 

This section should include your plans for your business Growth. You should include information on your target market and demonstrate an understanding of how economic factors may affect your plans. It is advisable to acknowledge your competitors and any potential weaknesses. This show’s you recognise the challenges that you must overcome to be successful.

 

It is important to understand that your business plan should be an ongoing process. This should be constantly evolving as your business and the economy develops. If you require help with any aspects of your business plan, don’t forget, we’re here to help!