Getting it right: Business Plans and Structures

I have worked with hundreds of businesses over the course of my career (yes, I must be getting on, that's true!). I have noticed that established businesses don't always take the time out to refresh their strategic thinking and new businesses often don't have the foresight to map out a robust strategic plan to begin their journey.

There is a lot of talk about business planning, but few organisations actually get it right. And, when they do take the time to develop a strategic business plan, the vast majority fail in the implementation of the strategy. It takes discipline and accountability, proactive thinking, courage, research, metrics and an action mentality.

We all know the statistics of business failure, and most comes down to a failure to plan and implement effectively.

A sound business plan is essential to guide the direction of your business, helps you secure finance and clearly maps out strategies to achieve your goals.

I work with numerous leadership teams, boards and management to facilitate their Business Planning either annually or quarterly.

The types of things we cover off include:

·        Executive Summary      

·        Business profile   

·        Owner and Shareholder Details 

·        Vision, Mission and Long Term Goals

·        Values – Foundation Principles

·        Business performance Overview           

·        Licences, registrations, permits and insurance

·        The Team (Organisation Structure) – include contractors, suppliers and staff.

·        Location and premises

·        SWOT analysis - Strengths, Weaknesses, Opportunities and Threats

·        Risk assessment          

·        SMART Goals  

·        Market research and Industry analysis including Competitor analysis       

·        Operating strategy        

·        Leases, Plant and equipment    

·        Major suppliers

·        Environmental strategy 

·        Human resources plan

·        Products and services / Value Proposition / Market position

·        Pricing strategy

·        Distribution system

·        Marketing & Communications Plan

·        Marketing goals           

·        Customer Base & Target markets

·        Brand strategy - Unique selling differentiation – Messaging, Brand Story, Voice

·        Marketing budget

·        Customer service strategy

·        Financial Strategy and Goals

·        Financial forecasts       

·        Start-up/Investment costs

·        Operating expenses forecast    

·        Cost of goods sold (COGS)     

·        Sales forecast  

It's not rocket science but there certainly is a method of planning that suits each organisation. By reviewing current planning processes and putting in place some simple ways to improve, an increase in profitability and success at achieving goals is expected. Including the team in the planning process will ensure agreed outcomes, greater understanding and ownership of the strategy and more investment in the plan.

Talk to me if you'd like a half day, full-day or two-day facilitated business planning workshop for your team or your Board. I'd be happy to provide a no-obligation proposal outlining my fees and detailing the best method for your group.