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© Profit Advantage Group Every Business Needs a Profit Advantagewww.profitadvantage.com.au
A Difficult Time for Business ?(It Shouldn’t be for Yours !)
Business Planning (A Necessary Good)
Presentation for
Macarthur Accountant’s Discussion Group
Professional Development Training Program
by Geoffrey D EllisB.Bus, M.Bus, FCPA, FAIM, MAICD, MIMC, MAIBB, JP
(Business Development Specialist)
5th August 2009
© Profit Advantage Group Every Business Needs a Profit Advantagewww.profitadvantage.com.au
8 Good Business Essentials(For Greater Business Success)
1. Clear Focus & Direction
2. Financial Management & Liquidity
3. Overall Management & Business Experience
4. Sound Sales & Marketing
5. Resilience
6. Good Record Management
7. Reliable Staffing & Employment Practises
8. Seek Professional Advice
© Profit Advantage Group Every Business Needs a Profit Advantagewww.profitadvantage.com.au
Your Business Cycle(We are now entering a New Era)
• World Economy• Australia Economy• Regional Economy• Local Market• Industry Cycle• Credit Availability• Political Scene (National & State)• Social & Community• Sustainability• Personal Circumstances• Employment (Labour) Squeeze
© Profit Advantage Group Every Business Needs a Profit Advantagewww.profitadvantage.com.au
Clear Focus & Direction(You can call it a Business Plan !)
• What’s Your Approach to Planning ?– I haven’t needed a
Business Plan so Far!– I’ve got one on the shelf– I actively Manage my
Business by Planning & Reviewing Regularly
© Profit Advantage Group Every Business Needs a Profit Advantagewww.profitadvantage.com.au
Clear Focus & Direction(You can call it a Business Plan !)
• What is a Business Plan?
• Why is a Business Plan a MUST have?
• What should be in a Business Plan?
• So why don’t people do Business Plans?
© Profit Advantage Group Every Business Needs a Profit Advantagewww.profitadvantage.com.au
Clear Focus & Direction(You can call it a Business Plan !)
• What goes with a Business Plan:– SWOT– Vision/Mission Statement– Budget
• Income• Expenditure• Capital
– Key Performance Indicators– Engagement of Key Personnel– Accountability– Regular Review & Updating
© Profit Advantage Group Every Business Needs a Profit Advantagewww.profitadvantage.com.au
Clear Focus & Direction(You can call it a Business Plan !)
• Our Approach to Planning (Extract)
© Profit Advantage Group Every Business Needs a Profit Advantagewww.profitadvantage.com.au
8 Good Business Essentials(For Greater Business Success)
1. Clear Focus & Direction
2. Financial Management & Liquidity
3. Overall Management & Business Experience
4. Sound Sales & Marketing
5. Resilience
6. Good Record Management
7. Reliable Staffing & Employment Practises
8. Seek Professional Advice
© Profit Advantage Group Every Business Needs a Profit Advantagewww.profitadvantage.com.au
Resilience(Survival Guide – 21 Suggestions Part 1)
• Account for every $ (Bookkeeping)
• Review Past Expenditure (Identify Excess)
• Reduce Costs (Does it Generate Income)
• Update your Planning (Budgets & KPI’s)
• Manage the Business (Work ON it not IN it)
• Reduce Inventory (Excess or Obsolete)
• Improve Efficiency (Process & Procedures)
© Profit Advantage Group Every Business Needs a Profit Advantagewww.profitadvantage.com.au
Resilience(Survival Guide – 21 Suggestions Part 2)
• Office Efficiencies (Organised & Tidy)
• Review Pricing (Twice a Year)
• Revisit Business Finance (Tax Effective)
• Keep Marketing (Consistently Focussed)
• Referrals & Testimonials (Reduce Risk)
• Seek Advice (Everyone needs some)
• Sales Pipeline (Leads & Conversions)
© Profit Advantage Group Every Business Needs a Profit Advantagewww.profitadvantage.com.au
Resilience(Survival Guide – 21 Suggestions Part 3)
• Staff (Job Descriptions & Incentives)
• Excess Capacity? (Space, Time, Staff)
• Review Trade Debtors (Look for their Risk)
• Use Available Technology (Work Smarter)
• Review Insurances (Risk Assessment)
• Survey your Customers (Are they Happy)
• Manage Credit (Cash is King !)
© Profit Advantage Group Every Business Needs a Profit Advantagewww.profitadvantage.com.au
What We Do(To Improve your Business)
• Business Development– Business Improvement– Growth Management– Business Recovery– Exit Strategies
• Services include (but not limited to)– Sales & Marketing– Business Planning– Budgets & Cashflow– Expense Reduction– Overall Business Health Check– Business Mentoring– Management Accounting– Employment & HR– Business Broking
© Profit Advantage Group Every Business Needs a Profit Advantagewww.profitadvantage.com.au
Our Processes(Ask About or Presentation Special)
© Profit Advantage Group Every Business Needs a Profit Advantagewww.profitadvantage.com.au
Geoffrey D EllisPrincipal Profit Advantage Group
29 yrs Private & Public Sector Experience (State, National & International) B.Bus, M.Bus, FCPA, FAIM, MAICD, MIMC, MAIBB JP Director, Macarthur Business Enterprise Centre President & Director, Youth Solutions President & Director, Campbelltown Chamber of Commerce Listed in CPA Australia Register of Directors Listed in AICD Register of Directors Listed in 2 separate International volumes of Marquis Who's Who Qualified Myers-Briggs Type Indicator ® Facilitator (ENTP) Started the successful South West Networking Group in March 2004 Chairman Macarthur Lifestyle & Business Expo Steering Committee Former Director, Institute of Management Consultants
Thank-you for your attention – QUESTIONS ?