What sort of business plan? Consider what sort of business plan you need. Whilst there are some common principles the reasons why

you need a plan will determine what content you need it Planning should be proportionate to your business need and

customer requirements Plans needed for internal progress checking are likely to be

very different for those where you are seeking investment, wanting to lease premises, etc.

You must put yourselves in the shoes of the customer Write your plan with influence so they can make an easy

decision to progress

Reasons to plan Get clarity from the start Know the fundamentals of the business Get off to the best possible start Document your direction at start up or if you’re at a standstill Think about areas not previously considered Consider issues in more depth Look at the business inside out Forward look with long term cashflow projections Goal / objective / target setting

Reasons to plan Internal Progress Monitoring, Measurement and Reporting

(living document) Satisfy Business Stakeholders/ Shareholders of direction of

travel Feasibility Studies Seeking investment – attract them and provide confidence To secure premises, e.g. on a lease Franchising / licensing Company Valuation, e.g. merger / acquisition Exit Strategy – e.g. effective and efficient plan for

withdrawing products and services that are no longer viable

Phillip Parramore MBA MInstLM

Business Growth AdvisorGuideDotYou Change Solutions

T:  0345 241 5323E:  info@guidedotyou.co.ukW: www.guidedotyou.co.uk