How to write a business plan

It is that time of the year again. We are all madly working to close the FY books, bring in outstanding creditors and pay debts in advance for next year. These things are all good and keep our financial team happy as well as help business health.

But what are you going to do next? We all know things are not going to stop, so operations is going to be top of mind. Apart from that, what about your Business Plan?

Hopefully your Business Plan is not sitting in a draw somewhere, is it? Even if it is get it out and dust it off. Look through the plan and have a look at what is relevant today. Most likely things have changed somewhat. Priorities, Goals and Objectives change over time. Maybe things have changed so much that a complete review of the Business Plan is needed.

Here is a quick and easy way to overcome the Business Plan problem. Even if you do not have a business plan doing this is a great start. Have a think about the next year for your business and write down the following headings:

• Business Focus/Scope

• Revenue/Income

• Costs/Expenses

• Resources

• Facilities

• Goals

Business Focus/Scope: This is the business activities you are going to focus on for the next year. It may be establishing a new line of products or another outlet. It may be focusing on an aspect of your business that you want to improve. Put down at least three bullet points but no more than five.

Revenue/Income: This is your expected Revenue for the year. You should also put this down as a monthly or quarterly guide. Also think about the “mix” of the revenue if you have multiple income streams.

Costs/Expenses: Same as you did with revenue. Highlight costs associated to Mix so you can check those.

Resources: Bullet point your staff numbers and functions. You may have 30 staff made up of 2 Shift Leaders, 3 Apprentices and 25 Tradesman. What other resources will you need? Salespeople, administration, bookkeeping. Bullet point these.

Facilities: list the facilities you will need for the year ahead

Goals: These should be your Goals for the year. Be careful to make sure they are SMART. They should be Specific, Measurable, Achievable, Relevant and Time Driven

Now do yourself a favour and think of the year PAST this one. In other words, what would these headings and bullet points look like in another years time?

This Business Plan should fit on one page. So on doublesided printing you have this years and next years plan. If you laminate this and keep it in your work folder, diary and even post it on your wall, you have a handy reminder of what you are trying to do that year.

You might even refer back to your Business Plan or create a new one. If you need help in creating a plan please contact us at InFormGroup.

theBizWiz

http://www.boulterassociates.com.au/
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