Business Plans

[michelle @ business smart]

Hello

I am in the process of setting up a new business, it is going to be a bit like a business directory but it is also going to be full of advice for new business owners as well.

I have tried to do my own business plan and it is okish but not the best in the world. It is the first time i have done a business plan, and i just wondered if anyone could give me some advice or tips on what the business plan needs to include.

Is there any companies out there that write business plans for people rather than me doing it on my own? Its not that i am lazy and don't want to do it on my own, i just want it to be good.

Thanks

Michelle x

 

[RedEvo]

There are compsnies who will create business plans and cash flow projections etc. You will also find heaps if you Google it.

I would expect to pay around £2k for a detailed plan c/w projections etc from a reputable company.

d

 

[Chris Kaday]

As far as content and structure is concerned there are lots of good books which set that out clearly.

Also I m happy to critique what you have already under strictest confidence

Chris Kaday

 

[Sheila]

We are writing a business plan at the moment and I found Business link UK to be of great help with this. I have done a couple and hope it will all come together in a while good luck.

Sheila x

 

[GiftGirl]

Helen Dowling at www.exceptionalthinking.co.uk helps with business plans. There are also some useful tips on her site. And your local library might have a book on writing business plans - there are loads out there!

What you include depends on whether you're seeking funding or not.

 

[maruby]

The business link website has lots of help for you - I would always say write your own plan - you know your business best !

If you need any help with particular parts then just post for help on the forums - oh and I would snap up Chris' kind offer

 

[swsw]

Hi,

A real business plan is beneficial because it's gets you to consider things, so having someone else do it is defeating the purpose. The value is in the doing rather than the having.

On the other-hand, a business plan to raise finance has to be written in a certain way I guess.

I wouldn't worry too much about it been right, if it's got you to thinking about things you hadn't before, job done. You can throw it away now...only joking.

IMO, do a draft business plan, on the back of a fag packet if you like, then leave it. Some people spend hours and hours making it look pretty, editing, producing lovely charts and spreadsheets.

Waste of time.

Get on with something more important, like figuring out how to reach your customers cheaply, and then what you're going to say to them to get them to buy when you do. And when they buy, how to get them to buy more, more often, and recommend you to their friends.

It's always the content that has value, not the presentation. Except in the BS corporate world.

(Come on MBA's if you think you're hard enough

All the best,

Steve

 

[Gillie]

A business plan for the attention of a lender does have to include lots of nice excel pages!!

I have a wonderful blank template that I will happily email to anyone that wants it if they pm their email addy to me.

But basically, you should really sit down with a template and work out all this stuff for yourself. It is by you doing it that you realise everything you need to do and research about your business.

A business plan is also a useful tool to keep returning to when you feel as if you have lost your way, a helpful reminder.

The finance side, if you are approaching a lender, the best thing to do is ensure that your plan is short sweet, full of appropriate figures and based on information you know the lender needs to know.

I have spent two years reading these things from the various people who wish to apply for geld, and am quite happy to help anyone out or point them in the right direction for the information they are after.

 

[Oz Qadir]

I agree with the posts here - BusinessLink is a great source of information for writing a plan. And, yes, there are lots of books & websites out there that will guide you on the content.

Maruby's comment is spot on - write your own plan - after all, you know your business best. And even if you don't know your business as well as you should, the process of writing a business plan itself involves asking yourself a lot of crucial questions.

IMHO, I would suggest you get used to doing a plan yourself - because you'll probably also find it's not a one-off activity. The BP will probably evolve as your business evolves.

One of the most useful BP tools I've found is the " Business Plan for a Start-up Business" from score.org/template_gallery.html

It is a template that systematically takes you through all the info you need to include (you can delete the sections which aren't relevant to your type of business). And, section-by-section, it also asks you over 150 questions about your business - which I thought was great - as it highlights the questions/answers you need to think about it. One other benefit is that from within the template - it has links to spreadsheet templates for the P&L, cashflow, balance sheet statements that you'll need for your business.


Good luck!

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Our firm: Quality Sourcing fom China - search Google for 'Solutions Royale'

 

[stugster]

I have a wonderful blank template that I will happily email to anyone that wants it if they pm their email addy to me.

I *think* I use Gillies one, and I have to say, it turned it all around!

Not only have I done an accurate Profit and Loss Projection for my Year 1 and Year 2, I actually understand it and am able to set targets too!


Away for Edinburgh fireworks now, cya later

 

[dbd1302]

I have something if anyone wants it that helped me write a business plan, sets out what needs to go in each section and what to think about before writing it.
Personally I like the idea of a business plan being writen by the person who's plan it is - how can it trully refect what they want to do and how they will do it if its farmed out?

It also got me thinking about aspects of the business i hadnt really thought about! Well worth doing yourself even if its just so you get it straight in your head whats going to happen!

 

[Cornish Steve]

Just imagine you are trying to get funding. How can you convince an investor that you are meeting a real need, that the market is quite large, that you can meet the need, that you are different from competitors, that you can make money, and so on?

The most important part of a business plan (and of a company in general) is strategy. It defines who you are, where you're going, and how you'll get there.