Need a Business Plan that rocks!

Recently some clients and non clients have come to me with ideas for a new businesses. new manager challenging teamSome are brilliant, some less so. One thing I recommend to all prospective entrepreneurs is that they go through a business planning process. To your average Entrepreneur, this can sound like a pain worse than death. After all, the idea is burning brightly in their heads, its all they can think about, they are consumed by it, they have thought it through and can see no downside – it’s like being in love for the first time.

So my suggestion of a business plan is like bringing your mother along on your first date with the love of your life – questioning your every move, looking over your shoulder, admonishing you for every wrong move, not liking your date because they are fearful for you. But they only want the best for you – same as a business plan. Enough of the analogy…

Here’s why you need to take the time to do the plan – And I mean a proper plan where you will test all your business acumen, where you will have to think things through and where your judgement will be questions.

1. If you go through the plan properly, you will be asked to cover all the eventualities in the business. You may not have all the answers, but they will be highlighted to you.

2. You will be forced to think long term – 1,3 and 5 year because that’s what being in business is all about

3. You will be forced to think of the people you will need, the skills you require and the source of these skills.

4. This is a business, so you will be forced to look at the financials. If they do not make sense at this stage, they will not make sense when you have sunk all your money into the project.

5. You will be forced to think of your target market – who will buy your product and will they buy it again and again.

6. you will be forced to think of your marketing strategy. getting a new business off the ground, be it global, national or local, requires a strategy and it requires a continuous commitment. Who will do this and what will you pay for the privilege .

Any time you spend on your plan will be time well spent. Yes it may cost you some money but it will cost you loads more if you do not know where you are going.

Take the first step today and give me a call on 087 222 0720 – for a business plan that Rocks

 

 

Need a Business Plan for a Start Up Business

If you are going into business for the first time or setting up a new business in addition to your existing one, its important to complete a written plan. It may seem unnecessary or boring but it is important.

Its not important to actually have the plan – its important to go through the planning business-planprocess, answering all the questions that need to be answered honestly to give yourself the best chance of success.

80% of businesses that have been started fail to make it to five years. None would have started out to fail. Either they did not do what was on their plan, or they had no plan or they did not cover all the bases before they started out.

Taking the time to prepare a proper plan costs very little – Running a loss making business will cost you dearly every month and for months and years after you call it a day.

Your business plan will consist of the following

I.        Table of Contents.

II.       Executive Summary.  – Brief explanation of the idea, 1, 3 and 5 year plan, who the customers are and expected outcomes

III.     General Company Description.

IV.     Products and Services. – Exactly what are you planning to sell and how will you price them.

V.      Marketing Plan. – This contains evidence of your market research – is there a market for your product, is there sufficient need for it, whats the competition like, whats your plan for getting and keeping customers, why should they buy from you?

VI.     Operational Plan. – How will the business run on a day to day level – will you do everything, will you work 20 hours per day, what can you delegate – how good are you at systems, can you lead, manage, delegate, sell, buy?

VII.    Management and Organization. – What will the structure look like as the business grows – have you given it much thought? Do you know where you will be operating – are you the best MD for the business or are you better in sales?

VIII.  Personal Financial Statement  – Whats going to fund the business, how much reserves do you have, how much can you invest, when will the income start arriving, have you considered worst and best cases. Have these numbers been challenged?

IX.     Startup Expenses and Capitalization.  – What types of initial costs will you have, where will you spend, where will you not spend, How much goods need to be capitalised?

X.      Financial Plan. – This is your cash flow projection, your budgets for 3 years, your pricing strategy, your evidence of research into running costs etc.

XI.     Appendices. – Supporting information.

XII.    Refining the Plan.  – How to really challenge yourself so that your plan, if followed will deliver the success you desire.

Plan your business for success – starting today.

We help people complete proper business plans for themselves and not just for the bank – Get one today.

 

Attention Business Owners….

 

GrowthCLUB is the most powerful day of planning any business owner will ever  experience.

At the end of this day, you will have clarity on your top priorities and a personalized plan for the next 90 days that will help you make more money and work fewer hours.

Business owners, this is also a great opportunity to network with 30 other business owners from the community.

GrowthCLUB
Friday, October 7th 2011, Clayton Hotel, Galway

Sign up today! Seats are limited and they’re going fast!
Click on this link to register!