A business plan that will work for any business.

  Planning is a key element to running a successful business. To get where you want to go, you’ll need a business plan. Use our previous blog articles to help you. Be clear on your products and services – USP (Unique selling point) Is your business going in the right direction? – SWOT analysis Most businesses don’t have any kind of plan. So, start with a simple plan that pinpoints what you want to achieve.

Here’s an example:
1. In 5 years time, I want the business to be worth £5 million
2. To achieve this, it must make annual profits of at least £1.5 million
3. To achieve this, it must have sales of £10 million
4. I need to increase my sales by, on average, £1 million a year
5. To do this,
I will need to:
A. Increase my customer base by 15%
B. Increase the number of times my customers buy from me by 20%
C. Raise prices by 10%    

Having developed a basic plan, it’s time to identify the constraints you think may get in the way of successful implementation.

Consider the following:
1. Inside the business, what are the principal constraints on our growth? Some possibilities: · Lack of capital (financing) · Lack of credit from suppliers · Too many customers owing you money · Underperforming owners / attitude issues · Underperforming staff / attitude issues · Internal conflicts · Lack of direction · Outdated technology · Lack of marketing · Missing skills · Retirement and succession issues · Undesirable customers · Excessive payroll · High occupancy costs    
2. Outside the business, what are the principle constraints on our growth? · The economy · Regulations · Competition · Demographics · Energy prices · Shipping costs  

What you should find is that you can’t do much about the outside constraints but you can do a lot about the internal constraints. For more business tips, why don’t you download our free “57 Ways to Grow your Business” book.  For a one to one meeting to make sure your getting the most from your business plan, contact Sharon Rose-Bloy to arrange a convenient time and date at sharon.rose-bloy@aprobinson.biz.

Agree? Disagree? Do let Unknown know what you think by commenting below.

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