Building a business plan

Reaching your goals requires defining, refining and planning and every small business owner should maintain a short, snappy business plan as an active working document. A good business plan comes from spending quality time in its creation to get to the absolute heart and soul of your business.  A well designed business plan gives you clearly outlined goals with the steps you need to take to get you to the larger aims of the business.

It isn't easy to write a business plan on your own; the collaboration itself is part of the clarifying process. The ultimate goal is to have a way of measuring your progress over time outlining the intended growth, profitability and cashflow of the business. Our Business Planning service will provide two sessions, 2 hours each in duration, with time in between, to capture the deeper considerations, define the intentions and create understandable clarity. 

What is a business plan?

A business plan for a small business should not be a hefty document but it should be a purposeful one; as such it is a powerful working document which is constantly refined. Every small business should have a short, succinct, relevant document that is referred to regularly and very much ‘in play' on a day to day basis. There is no point having a business plan if it takes months to write, is too long to read and therefore stuffed in the filing cabinet never to be referred to again. Think of your business plan as your personal road map to success, with realistic goals that outline the steps that will get you to your longer term aspirations. It can be shared with those that are helping you to get to the desired outcome, with whom you want to share the vision and for those that are to supportively hold you to account.

Why do I need a business plan?

01

Clear Direction

The outcome is to identify and prioritise goals both in the short and long term, creating strategies to achieve those goals and to enable you to review your actual performance against your intentions. You want an immediate strategy for the next 90 days whilst keeping a keen eye on the ultimate destination. You want to know the long view and the immediate plan. 

02

Identify Weaknesses

Taking the time to work through the plan allows attention to be given to the potential strengths and weaknesses. Pre-empting potential challenges or identifying them as they occur allows you to take appropriate steps in good time. 

03

Measure Progress

Measuring progress is not only financial. You will want to consider the elements that will move the needle on your business. Taking the time to understand what is going to have an impact on your business and it therefore important to measure provides the clarity to know what data you should be collecting and reviewing.

04

Set Financial Goals

Setting goals to work to can be motivating and rewarding and is more likely to get you to achieve those milestones. The process helps identify what needs to happen to make those goals attainable and can set a platform for developing financial planning. 

05

Constantly Refine

Every small business should update their business plan on a minimal yearly basis. Our business planning service includes a quick quarterly review which will help you to refine your business plan every quarter. Refinement itself is a process and keeps you responsive to what is actually happening in your business.