Businesses do not plan to fail but they often fail to plan. The result of this failure to plan can be that a business fails or is handicapped by events they could and should have foreseen and planned to overcome.
Business Plans are used for a whole lot of reasons. Many businesses have an annual business plan that they review regularly with their management team. Others produce a business plan to support loan or grant applications.
Business Gurus are very mixed in their opinions of Business Plans. Our view is that they are an important guide for the business. They need to be concise identifying the factors that are critical to the success of the business and focus on addressing these critical success factors. A really big benefit of a good business plan is that all of your staff understand the business goals and it helps them better identify with the business.
What most SME owners agree with is that the Business Planning process can get out of hand and take far too much of their time and that of their senior management.
This is where we can help by showing the client a business planning template that they can easily adapt and facilitating the creation of the business plan. We can also produce a financial model with integrated Profit, Cash Flow and Balance Sheet. This means that you to look at the sensitivity (what if) of Business Plans by changing key variables.
If you think you may have a need please call and let us see if we can help you.