When we think of a Business Plan it is usually seen as something you need when you first start a business, the truth is, this is wrong…
’99 Problems’ but a Plan ain’t 1!
I could give you so many reasons why you should have an ANNUAL BUSINESS PLAN and not just a document to satisfy the bank for finance. Below is a list of the benefits of having a business plan and also how we can help you with it.
Business Planning – Outline and Benefits
Why we developed this service.
Success is about planning; we want to help you achieve success.
- Do you have a current Business Plan?
- Have you set realistic and measurable goals?
- Do you have clear strategies to achieve your goals?
- Do you regularly review your goals in regard to changing circumstances?
A Business Planning session will require you to take time out from day to day activities in the business to focus on the business. Together we will review your past performance and clarify future direction. You will set solid and realistic business goals and define strategies for achievement. At the end of the session, you will have a one page Business Plan which will act as a guide map to ensure you are on course for success.
Who should have a Business Planning session?
Every business should have a Business Plan. Would you like:
- To increase the level of growth, profitability and cashflow in your business?
- Support to unlock your business potential?
- A clear outline of what you need to do to unlock this potential?
- A document against which to measure your progress?
What is involved?
You’ll attend a four hour planning session facilitated by Stephen Edwards . The key issues covered include:
- Discussing and setting both personal and business goals for the next 12 months
- Discussing and agreeing on an action plan with strategies to support achievement of goals
- Identifying Gross Revenue Targets and Key Performance Indicators
- Identifying opportunities and vulnerabilities in your business that need to be managed
- Establishing a 90 Day Action Plan to address immediate critical issues
We’ll provide you with pre-work, which you will need to complete prior to the Business Planning session to ensure you identify any issues that need to be discussed. That way we can prepare any information required prior to the session.
When should I have a session?
Any time is a good time to develop a Business Plan if you don’t have one, however it’s particularly relevant at the start of a new financial year. If you’re contemplating a major change in your existing business or starting a new venture, a Business Plan is crucial. You’ll also require a Business Plan to support any financial applications.
Call us now on 01242 528412 and ask for Stephen (or email stephen@cheltenhamtaxaccountants.co.uk) to discuss the preparation of your Business Plan.
Benefits of a Business Planning Session
- Review and set the direction of the business
- Eliminate procrastination
- Identify common goals amongst a number of directors (if applicable)
- Identify and prioritise your key goals
- Create strategies to achieve your goals
- Identify what you will need to achieve your goals
- Set timeframes for achieving your goals
- Develop a tool to communicate your business goals and vision with your team
- Divide your goals into short term and long term – quick wins vs. key projects
- Develop a template to review actual performance against targets
- Create a platform to develop Financial Forecasts
- Use your Business Plan as a basis for you to set team members’ individual goals / targets
If you would like to find out more or learn about our business coaching feel free to contact us.