A business plan can be the corporate document: 1” thick and 1,000’s of complex words and clauses which is signed and counter-signed by the directors and subject to shareholder approval – OR it can be on one side of an A4 size sheet and filed in the bottom drawer! Either way, having a plan and working to it is all part of a business strategy.
Why write a Business Plan?
- A well-produced one will show you where your business is leading to or how its progressing.
- Your objectives and financial standing will be clear
- Done regularly it will mitigate any potential problems before they happen.
- It will give you focus
Without a plan……..well !
New Business
For a start-up, new or young business it is especially important. Clear ideas and a clear direction for the first year of trading is vital – you will probably have lots of questions to ask:
- Are the forecast sales being achieved?
- Are the margins OK?
- Are the overheads too high?
- Are you making a profit?
Statistics tell us that the first year of any new business is the most difficult – a well written plan which is reviewed frequently is a valuable business tool.
If you are unsure how to prepare and write it, we can help. Using our many years of business experience, we can write the plan for you or review your draft plan, making sure it is robust and covers all the business essentials – a document you have confidence in. Of course, a business plan needs a budget and cash-flow forecast to work alongside – we can help with that, too.
A well written business plan is your key to success.
Article written by Chris Dowling. We also welcome guest bloggers. If you would like to offer us an article please call us on 01825 701332 or email chris@dowlingconsultants.co.uk.
