How We Create Solid Business Plans
Every business needs a plan, and our years of experience working with SMEs makes us perfectly placed to help you write one. Whether you’re just starting out, maybe you’re looking for funding, or perhaps you just need a steer in the right direction; we’ve worked with businesses of all shapes and sizes and can offer our expertise. Every plan will include a thorough assessment of your market, an analysis of your financial information, financial forecasts and tangible steps to help you get to where you want to be, plus much, much more.
The Process of Creating a Business Plan
Every business is different, and we make sure you won’t get a copy-and-paste approach. So, for us to create a business plan that is unique to your business, we’ll:
- Hold an initial meeting where we’ll work out what your goals are and what’s holding you back
- We’ll assess your annual accounts and other financial information and suggest any areas for improvement that will help you get there
- We’ll conduct a thorough review of your sector and competitors to make sure no stone is unturned
- We’ll use financial forecasts and financial models to scenario plan to ensure your business is prepared for any ups or downs
- Finally, we’ll provide you with a sturdy business plan that will set you up nicely and give you a benchmark to work against
We’d love to dig into your business and help formulate a solid business plan. Get in touch if you’d like to hear how we can help.
Business Plans That Go Further
Unlike other firms, we’re uniquely positioned to offer advice across all aspects of the business world. Meaning, our Business Plans are rigorously analysed by a team of accountants, lawyers and even acquisition experts. Rather than relying on templates or bland advice, our business plans are backed by experts and tailored to your business. They’ll give you tangible steps to achieve your dream by analysing your current performance and the state of the market, identifying any gaps and putting in an action plan to help you get where you want to be.
Why are Business Plans Important?
What’s the phrase, a goal without a plan is just a dream?
Cheesy phrase aside, a business plan helps you achieve your business goals, whether that’s exploring financing options, opening a new site, or taking on new staff. With the help of useful financial forecasts, you can plan for different eventualities and put in place actions to help you get there. A business plan provides you with useful insights into the market to help you differentiate, gives you a benchmark for future performance and it also makes you much more attractive to outside investors.
What do business plans look like?
A business plan is a structured document that outline your objectives, dives into your market and suggests steps for achieving your goals.
Business plans often include the sections below:
- Strtategy Review: we’ll take some time to review your proposition, customer base and competition, allowing us to identify the best opportunities for profitable growth.
- Implemenetation Plan: once we’ve identified the best strategy to help achieve your goals, we’ll then discuss how to make it happen.
- 5-Year Forecast: once the practicalities of delivering the strategy have been considered, it’s time to do a forecast.
- Targets: the last step is to tie in your financials to KPIs and targets, benchmarked initially on a quarterly basis to ensure you’re measuring against them.
Although this is a general overview, our business plans will be different for each clients, designed with your goals in mind.
Why not use a business plan template?
Unfortunately like most things in life, you get what you pay for.
We get it, most new business owners are pressed for cash and time, so the appeal of a business plan template is clear. However, before you go down that route, it’s worth being aware of the drawbacks:
- Lack of Customisation: templates are usually very generic and not tailored to your business
- Poor Financial Accuracy: a template may completely overlook industry-specific costs, revenue streams, or funding needs.
- Limited Credibility: Investors and lenders can spot cookie-cutter plans, from a mile off!
- Insufficient Depth: templates might not give you the depth and analysis that you really need!
A template business plan may nudge you in the right direction, but it’s not going to be anywhere near as useful as business plan that’s tailored to your financials and has your specific goals in mind.
Business Plans Built by Experts
Meet Neil Nichols, our Founder, who, through his own experience growing and selling a property business was inspired to make accounting more useful to SMEs.
During a previous role at Bain Capital, Neil became adept at building solid business plans for companies in a wide variety of industries. On this topic, Neil said:
“Far too many businesses fail to ever put a proper plan in place, and they often risk falling at the first hurdle. A proper plan should have clear KPIs and targets, and be built on solid research and an implementation plan. That’s where we come in!”
Neil and the team help our clients build solid business plans, giving them clear objectives and keeping them accountable along the way.
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Challenge Sophie – Business Planning
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