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Planning 2 Succeed How big does your business have to be to be as successful as you want? Alistair Tait Tait Enterprise Development Limited. Domestics. Finish Breaks Lunch Toilets Fire alarms Smoking Phones off/on discrete please. Introductions. Tell us; Who you are - PowerPoint PPT Presentation
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Planning 2 Succeed
How big does your business have to be to be as
successful as you want?
Alistair TaitTait Enterprise Development Limited
Domestics• Finish• Breaks• Lunch• Toilets• Fire alarms• Smoking• Phones off/on discrete please
Introductions
Tell us;
• Who you are
• What your business does (or will do)
• How big do you think your business
needs to be?
What do you want to achieve as a
result of attending this workshop?
Your objectives
Workshop overview
1.Get what you want from your business
2.Understanding the Profit and Loss account
3.Setting a profit target
4.What are key steps to achieve your target?
5.What is holding you back?
6.Action planning
1. Get what you want
from your business
Get what you want from your business
Personal Business
TimeHow do you want to spend your free
time?
What “nice” things would you like?(house/s, car, yacht, diamonds!)
How many weeks holiday?
What do you like to do at work?
What do you not like to do at work?
How many days a week do you want to work?
Money How much do you need to earn to have this lifestyle?
How much income do you have from other sources?
How much do you need to earn from your business?
Personal Business
TimeHow do you want to spend your free
time?
What “nice” things would you like?(house/s, car, yacht, diamonds!)
How many weeks holiday?
What do you like to do at work?
What do you not like to do at work?
How many days a week do you want to work?
Money How much do you need to earn to have this lifestyle?
How much income do you have from other sources?
How much do you need to earn from your business?
Get what you want from your business
Personal Business
TimeHow do you want to spend your free
time?
What “nice” things would you like?(house/s, car, yacht, diamonds!)
How many weeks holiday?
What do you like to do at work?
What do you not like to do at work?
How many days a week do you want to work?
Money How much do you need to earn to have this lifestyle?
How much income do you have from other sources?
How much do you need to earn from your business?
Get what you want from your business
Personal Business
TimeHow do you want to spend your free
time?
What “nice” things would you like?(house/s, car, yacht, diamonds!)
How many weeks holiday?
What do you like to do at work?
What do you not like to do at work?
How many days a week do you want to work?
Money How much do you need to earn to have this lifestyle?
How much income do you have from other sources?
How much do you need to earn from your business?
Get what you want from your business
Personal Business
TimeHow do you want to spend your free
time?
What “nice” things would you like?(house/s, car, yacht, diamonds!)
How many weeks holiday?
What do you like to do at work?
What do you not like to do at work?
How many days a week do you want to work?
Money How much do you need to earn to have this lifestyle?
How much income do you have from other sources?
How much do you need to earn from your business?
Get what you want from your business
Personal Business
TimeHow do you want to spend your free
time?
What “nice” things would you like?(house/s, car, yacht, diamonds!)
How many weeks holiday?
What do you like to do at work?
What do you not like to do at work?
How many days a week do you want to work?
Money How much do you need to earn to have this lifestyle?
How much income do you have from other sources?
How much do you need to earn from your business?
Get what you want from your business
2. Understanding the
Profit and Loss account
Gross sales
Cost of sales
Gross profit
Gross margin
Overheads
Net profit/(loss)
Finance charges
Profit/(loss) before tax
Taxation
Retained profit/(loss)
£’000
2010Actual
Profit and loss account
885
584
301
34%
259
6
36
7
29
42
Gross sales
Cost of sales
Gross profit Gross marginOverheads People costs Premises costs Sales & marketing Other overheads Depreciation Fixed asset sales
Overheads
Net profit/(loss) before finance charges
£’000
2010Actual
Profit and loss account
885
584
301
34%
259
42
132711718210
The jargon
a
b
c
d
ef
j
ghi
k
l
Gross sales
Cost of sales
Gross profit Gross marginOverheads People costs Premises costs Sales & marketing Other overheads Depreciation Fixed asset sales
Overheads
Net profit/(loss) before finance charges
£’000
2010Actual
Profit and loss account
885
584
301
34%
259
42
132711718210
Gross sales
Cost of sales
Gross profit Gross marginOverheads People costs Premises costs Sales & marketing Other overheads Depreciation Fixed asset sales
Overheads
Net profit/(loss) before finance charges
£’000
2010Actual
Profit and loss account
885
584
301
34%
259
42
132711718210
The arithmetic
a
b
c
d
ef
j
ghi
k
l
Gross sales
Cost of sales
Gross profit Gross marginOverheads People costs Premises costs Sales & marketing Other overheads Depreciation Fixed asset sales
Overheads
Net profit/(loss) before finance charges
£’000
2010Actual
Profit and loss account
885
584
301
34%
259
42
132711718210
The arithmetic
a
b
c = a-b
d
ef
j
ghi
k
l
Gross sales
Cost of sales
Gross profit Gross marginOverheads People costs Premises costs Sales & marketing Other overheads Depreciation Fixed asset sales
Overheads
Net profit/(loss) before finance charges
£’000
2010Actual
Profit and loss account
885
584
301
34%
259
42
132711718210
The arithmetic
a
b
c = a-b
d = c/a x 100
ef
j
ghi
k
l
Gross sales
Cost of sales
Gross profit Gross marginOverheads People costs Premises costs Sales & marketing Other overheads Depreciation Fixed asset sales
Overheads
Net profit/(loss) before finance charges
£’000
2010Actual
Profit and loss account
885
584
301
34%
259
42
132711718210
The arithmetic
a
b
c = a-b
d = c/a x 100
ef
j
ghi
k = e + f + g + h + i + j
l
Gross sales
Cost of sales
Gross profit Gross marginOverheads People costs Premises costs Sales & marketing Other overheads Depreciation Fixed asset sales
Overheads
Net profit/(loss) before finance charges
£’000
2010Actual
Profit and loss account
885
584
301
34%
259
42
132711718210
The arithmetic
a
b
c = a-b
d = c/a x 100
ef
j
ghi
k = e + f + g + h + i + j
l = c - k
3. Setting a profit target
Gross sales
Cost of sales
Gross profit Gross marginOverheads People costs Premises costs Sales & marketing Other overheads Depreciation Overheads
Target earnings
£’000
TargetProfit and loss account
154
54
10065%
70
30
401210
62
Assumptions
I person + admin help£ 1,000 per monthWeb, PR, advertising, etc£ 500 per month
Keep £65 in every £100 sale
£ 3,000 per week
Personal target
Now you!
Gross sales
Cost of sales
Gross profit Gross marginOverheads People costs Premises costs Sales & marketing Other overheads Depreciation Overheads
Target earnings
£’000
TargetProfit and loss account
Assumptions
Gross sales
Cost of sales
Gross profit Gross marginOverheads People costs Premises costs Sales & marketing Other overheads Depreciation Overheads
Target earnings
£’000
TargetProfit and loss account
154
54
10065%
70
30
401210
62
Assumptions
I person + admin help£ 1,000 per monthWeb, PR, advertising, etc£ 500 per month
Keep £65 in every £100 sale
£ 3,000 per week
Personal target
4. What are the key
steps to achieve your
target?
5. What is holding
you back?
Workshop review
Workshop Review
1.Get what you want from your business
2.Understanding the Profit and Loss account
3.Setting a profit target
4.What are key steps to achieve your target?
5.What is holding you back?
6.Action planning
What did you want to achieve as a
result of attending this workshop?
Your objectives
6. Action planningWhat three things are you
going to do now to get
closer to having the
business you want?
Action planningWhat three things are you going to do now
to get closer to having the business you need?
1
2
3
Me again!
17/05/12 How much funding might the
business need and where to find it.
14/06/12 The importance of Gross
profit vs Net profit in a business.
Next session12 January 2012
Smarter with Time
Thank you!
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