Business Plans in Nottingham
What is a Business Plan?
A business plan is an essential written document that provides a description and overview of your company’s future. All businesses should have a business plan. The plan should explain your business strategy and your key goals to get from where you are now to where you want to be in the future.
Business Plan Template
The specific information in your business plan will vary, depending on the needs and goals of your venture, but a typical plan includes the following ordered elements:
- Executive summary
- Description of business
- Market analysis
- Competitive analysis
- Description of organizational management
- Description of product or services
- Marketing plan
- Sales strategy
- Funding details (or request for funding)
- Financial projections
Benefits of a Business Plan
What are the Benefits of a Business Plan?
The bigger picture
This is one of the key advantages of a business plan. When you plan your business right, you can get a clearer picture of the business as a whole. You can easily connect the dots between strategy and tactics, and everything is easier to work out.
As a startup, you need to create an identity and focus on building that identity. It is usually defined by your target market, and the products and services you are tailoring to match their needs.
It’s impossible to do everything at once in a business. When you plan your business, you can order things in terms of their importance and allocate your effort, resources and time efficiently and strategically.
When you plan your business effectively, you can check your assumptions, track your progress and see new developments right from the beginning, allowing you to adjust accordingly.
Forces you to be accountable
When you plan effectively, you set expectations for yourself and a means by which you will be able to track your results. You can constantly review your business plan in terms of what you expect and what eventually happens.
Creation of a Marketing Roadmap
Marketing is an important aspect of a business plan. It helps to define your target market(s), target customers and how you will promote and place your product/service to these markets/customers.
Support for Funding
Whether you’re seeking credit from a bank or capital from investors, a business plan that answers questions about profitability and revenue generation is often required.
Helps to Secure Talent
For a business to succeed, attracting talented workers and partners is vital. Part of a business plan’s purpose is to help bring in the right talent, at the right time. Staff want to understand the vision, how the business will achieve its goals, and how they can contribute to this in their own roles.
How can Seagrave French help you?
How can Seagrave French help you?
Research suggests that those businesses with a written business plan are far more likely to succeed.
Business plans are also regularly needed to support finance applications, especially bank lending.
We can assist with all aspects of the business plan including…
- Business strategy and goal setting
- Cash flow forecasts
- Profit forecasts
- All written elements of the plan such as business background, marketing plan, SWOT analysis, markets, competition and all of the other key elements that need presenting in the most suitable way to lenders
After you’ve produced the plan, you need to monitor how you are doing against the plan and we can help you with this.
Whatever your ambitions, we will commit to them wholeheartedly and deliver the premium service you deserve. Get in touch today to book a chat with the experts at Seagrave French.