Business Planning

“If you fail to plan, you plan to fail…”

What is a business plan?

A business plan is a set of goals, ambitions, projections, and forecasts, for a business.

A well-prepared business plan usually has a written side containing goals, research, and company information - and a financial side. The financial side of a business plan is usually referred to as ‘the financials’.

The financials of a business plan includes forecasts for sales, expenses, and cash flow, and projections of profits, assets, and liabilities.

Why have a business plan?

Most businesses fail due to a lack of planning. They either run out of cash or need to be more profitable. A business plan can prevent these things from happening.

We have seen this with the hundreds of businesses we have worked with. Those with a well-prepared business plan and planned for cash flow and projected profits, as well as other crucial items, generally outperformed those that didn’t have a business plan.

Business plans can also highlight potential weaknesses and flaws in your business and business model.

If you genuinely want your business to succeed, a business plan is best!

If you are looking for investors or obtaining a loan from a bank, you will need a business plan - another reason to have one!