business plans / 7 posts found
Create a one-page business plan
To make a success of your business, you’re going to need a robust business plan - particularly as we face challenging times. With a one-page business plan behind you, the company has a real sense of strategic direction and a set of core goals to refer to and track against. But what are the key elements to include in your one-pager business plan? We’ve listed some of the foundational areas to cover, so there’s real purpose behind your return to trading. What to include in your business plan Lots of online resources will suggest that a business plan is an [...]
Estimating sales
It's common practice for business owners to estimate sales by focussing on total revenues and using that to drive their business plan. But, if you think about it, that doesn't make sense. Whether you succeed or fail, you will have no idea how or why it happened. You're flying in the dark. It takes a little more time, but your sales forecast should start from the bottom up and in as much detail as you can. You clearly need to know the sales price of your products and services, but you can also calculate an average sales value, based on [...]
Helping your business climb mountains
Search parties have abandoned their efforts to find four mountaineers who disappeared in Nepal two weeks ago. The team, all experienced climbers, flew out from the UK in August for "the adventure of a lifetime". They left their camp in the foothills of the Himalayas on the morning of September 3rd and have not been seen since. Deteriorating weather conditions and sub zero temperatures have finally forced local rescue teams to abandon their efforts to find them. "We have absolutely no idea where they could be," said one local guide. "They just set off without knowing where they were going [...]
Please, Sir! I want some more.
Here's a question for you. What does your accountant really contribute to your business? I don't just mean all that pen-pushing and form-filling to keep the taxman and Companies House happy. That should be just the beginning; but so often it's the beginning and the end of the service that so many companies receive from their accountants. The sad truth is that too many small businesses accept this; not because they are satisfied with a second-rate service, but because they are unaware of what accountants can and should do for their clients. It's not actually rocket science. As accountants, we [...]
Looking forward to Rio
The extraordinary performance of the Brownlee brothers in the Olympic triathlon got me thinking. It wasn't their seemingly endless stamina or the fact that Alistair, after swimming 1500 meters and cycling 43 km, ran the 10km phase faster than the last man across the line in the 10k track final. It wasn't their total commitment to the sport either, their youth or their infectious good humour. It was the fact that they were already looking forward four years to the next Olympics in Rio and talking about their preparations. As businessmen, we can learn so many lessons from our great [...]
Going for Gold with TLA
As 17,000 athletes finally get to deliver their ultimate performances at the London Olympics, it occurred to me that there is a business parallel here. Like any business, athletes have to compete to succeed. But how many do you know, who would even consider competing without training and without a plan? It is perfectly possible, of course, to go for a run because you enjoy it and without the slightest intention of competing. But isn't that called jogging? So, here's a question you can ask yourself. "Is my business competing? Am I going for gold? Or am I just jogging [...]
Business Plans
Every new business should have a business plan. It is the key to success. If you need finance, no bank manager will lend money without a considered plan. It is one of the most important aspects of starting a new business. Your plan should provide a thorough examination of the way in which the business will commence and develop. It should describe the business, product or service, market, mode of operation, capital requirements and projected financial results. Preparing a business plan will help you to set clear objectives for your business and clarify your thinking. It will also help to [...]