Are you struggling to write a Business Plan or even find the motivation to be pick up a pen to even start? Many business people who must write a Business Plan, whether for internal planning or for their Bank Manager, fall at the first hurdle, and don’t produce a Plan because they haven’t the faintest clue where to start.

There is no excuse for this to happen. If you have never put a Business Plan together, you don’t have to struggle on your own because there is plenty of support out there to help you write a blockbuster of a Plan.

Here are some of the places or people you can seek assistance from.

Your Team

Don’t ignore the people who know as much about the business as you do – your staff. Enlist their help and use all the knowledge they possess. It’s usual to find that, in some cases, they have a more in-depth knowledge about specific areas of the business than you!

Bring together the key people in your business and explain to them what you are planning to do, and that you need their help in compiling a Business Plan. Allocate specific parts of the Plan to the people who have the right skills: sales and marketing to your sales and marketing people; production issues to your production team etc. Tell them that you need a complete overview of their contribution to the business; how their department works; how they interact with the rest of the business; their strengths and weaknesses.

In order that the process doesn’t drag on too long, give them a specific deadline by which their contribution has to be returned.

Don’t overlook the power of co-opting your staff in helping to complete your Plan. There is no better way to achieve “buy-in” to your vision and strategy than getting your team involved.

Accountants

If you can afford it, you can ask for help from an accountant. He will have seen many Plans and so can provide some practical advice, particularly where Profit and Loss and Cash Flow forecasts are concerned. If you don’t feel comfortable with figures or you don’t have an accountant within your business, then it would be wise to seek help in compiling these figures, after all, the Bank is going to make some very important decisions based on these forecasts, so they have to be as accurate as possible.

However, don’t underestimate the benefits of doing the forecasts yourself. This exercise will give you a very good understanding of how your business works from a financial perspective; you’ll realise the importance of managing cash properly and the effect a rapidly increasing or decreasing turnover can have. In addition, because you did the figures yourself, it will give you the motivation to monitor your performance on a regular basis.

Once you have finished the forecasts, you can still ask your accountant to review them to ensure that you’re not totally mad! He can give you a formal ‘stamp of approval’ to include in your Business Plan, so listen to what he has to say.

If you don’t have an accountant, speak to other business people and get a recommendation from them as to whom to use. A recommendation can save you many hours of phone calls and interviews.

The Bank

You may think that the Bank would not wish to spend time talking through your idea, but don’t forget that they are on the look out for good business, so it’s in their interest to get in early before any other Bank does. If you are already one of their business customers, they should be happy to review your initial plans. The Bank’s aim is to build a relationship with you, and so they will be pleased to provide their thoughts on any expansion plans. The same applies if you are a customer who maintains an ordinary personal account and is looking to start up in business for the first time.

Getting the Bank involved early on means you can pick their brains and get their early views, before you make any irreversible decisions. You may think that this is a bit odd but being pointed in the right direction may save you time later. For example, by seeking their early thoughts, you may get the impression that the Bank is not keen on your idea so this could give you the clue that you may be better off placing your request with another Bank.

If this is your first time in business, or the first Plan you are writing, asking someone to go through the key issues with you will provide a number of tips and advice, which aren’t necessarily included in any Bank booklets or brochures. The advantage of this approach is it won’t cost you a penny and you are establishing an immediate relationship with the person who will be reviewing your Plan.

Business Colleagues, Local Chambers Of Commerce or Chambers of Trade

These are organisations comprising of local business people who get together on a regular basis to share ideas and experiences, hold seminars and trade fairs. You may think that people already in business, especially in the same line as you, would not want to help someone else start up in business or expand in case it damages their own firm. However, this is far from the case.

All entrepreneurs know what it’s like during the early days in business or the problems trying to grow an existing one. They will be more than willing to share their experiences and give some general advice. You’ll be surprised at how generous some business people can be.

Books

There are numerous books on how to prepare Business Plans. Each of them has something different to add, so buy a few and pick up some of the key points.

Take a visit to your local library. As well as books on how to put a Plan together, they may have information relating to your line of business, which could be useful in gathering background facts to bring your Plan to life.

With these sources of advice there really is no excuse for you not getting down to writing that long overdue Business Plan!

Robert Warlow

Small Business Success

Making the decision to start up your own small business can be one of the biggest choices you make in your life. Running a business takes serious commitment, and a lot of hard work, and isn’t a decision that should be entered into lightly, but if you have decided that this is definitely the route for you, then writing up your business plan is one of the first things you need to consider.

Your business plan will lay out in detail exactly what you want to achieve, and how you plan on doing it, the more detailed your plan is the better. You will need this plan not only for yourself, but also for your bank if you are going to be applying for financial help to start your business, so make sure it is written professionally, as the bank won’t be impressed if you turn up with coffee stained scraps of paper with a few ideas jotted down.

• The first thing you need to make obvious within your business plan is exactly what your business will do, what products or services you will be offering, how you will offer these to customers (online, by phone or from a shop etc), and how you will approach the pricing. Clearly defining your business in this way will make it easier for the bank to decide if you are viable for a loan. It will also help you in the long run as you will know exactly where you are heading.
• Think about who your customers will be, it is essential to have a clear idea of who you are marketing your products or services to so you can promote your business effectively. Questions to ask yourself may be; Are your customers young or old? What are their lifestyles like? How will you market your business to them? The more information you have regarding your potential customers the better.
• Choosing a name for your new business is essential, and you should put a lot of consideration into this. The name should suit your business and reflect the image you wish to portray. Look online and check if there are any businesses already using this name or something very similar, you can do this by going on a website registry site and typing in the name you wish to use. Try to choose a name that isn’t too long and can be easily remembered.
• If you are going to need to take on staff include this in your plan, as this will be an extra expense you will need to think of. Also you will need to familiarise yourself with employment laws.

These are just a few of the things to consider when starting your business plan. Remember your plan isn’t set in stone, as your company grows you may need to adjust areas, or add sections you hadn’t thought of before.

One thing to remember is that to be successful in setting up a new business you need to be flexible and realistic

Kicking & Screaming

Most business owners and department managers know they “should” have a plan. Yet in all my 25 years of helping business owners and managers grow their businesses, just four of my clients possessed a written plan, and only one was actually using it. Why do so many business owners skip this crucial step? Some common explanations I’ve heard go something like:

• “I don’t need funding, so I don’t need a business plan.”
• “My plan is going to change anyway, so why should I waste my time creating it?”
• “It will take too much time.”
• “I started to and found it overwhelming.”
• “I didn’t start a business to do the types of things I did when I worked for someone else.”
• “I don’t want a big company. I don’t want employees.” (I just created a J.O.B. for myself.)
• “I don’t know which planning program to use; there are so many out there.”
• “It’s expensive to plan and I need to spend my money on other things.”
• “I don’t need to plan; I just want to work in my business.”

Does any of that sound familiar? For the most part, “winging it” from day to day works-until it doesn’t. Many business owners learn this the hard way. Whether at the $60,000 per year income level or at the $30 million level, without a plan, a business or its owner will eventually crash. Owners or managers will often agree to use a plan if someone else creates it for them. That’s a BIG no-no in my book. It’s important for business owners to gain the experience of the planning process. At least once, they must tackle the questions they’ve put off answering. Otherwise they run the risk of never gaining real clarity regarding the direction of their business.

The Care and Feeding of Business Owners & Managers

As the old saying goes, “You can lead a horse to water, but you can’t make it drink.” Clients who come to me for help with their strategic plan are often feeling a “pain”. It is a common experience, often necessary to compel them to take a “drink” from the strategic planning process. Here are a few common “pains” my clients have reported:

• They’re not attracting their ideal clients and are sick and tired of working with jerks.
• They need to be making more money.
• Their spouse informed them that if they don’t spend more time together, they’ll file for a divorce.
• Their spouse wants them to get a “real job”.
• They’re retiring from a job in “x” years and want to have an immediate income at that time.
• They’re retiring in “x” years and want all the work, time, and money they invested in their business to be their nest egg.
• They’ve discovered that a business isn’t just a place to work, but an entity to grow.
• “Someone” told them they had to create a plan.
• “Someone” told them that their marketing is “all over the place”.
• They need help managing their company or department.
• They became an “accidental” business owner or were promoted suddenly, and need help fast.
• They’re turning 50 and want to examine the next 30 years of their business with someone who isn’t as vested in the business as they are.
• They want to work one day per month because they want to start a non-profit.

These and many other possible “pains” or problems will hopefully lead a business owner to re-evaluate the need for planning. But where to begin? The task of planning can seem monumental. Luckily, there is a one-page process which makes planning not only exciting, but simple and straightforward.

When the Light Bulb Flickers

When someone seeks my services, they often need more clients, better clients, or more money. In determining what is hindering their growth, we find they have no vision, mission, objectives, or strategies written down. They usually have no action plan, marketing plan, or financial plan, either. Here are some reasons they’ve given for finally taking the planning plunge:

• “My original business vision was thrown to the wind and all I’ve been doing is looking at ‘today’.”
• “I realized that the business I envisioned is not what I have, and I don’t like the business I have.”
• “I read Michael Gerber’s The E-Myth Revisited and realized I need systems.”
• “I’m getting older. I want to get top dollar for my business in (5, 10, or 20) years, and I know I need to have a turn-key business. My business is anything but turn-key.”
• “I’m getting bored of running my company, and want to get it ready to sell/hire a CEO.”
• “I have tried to grow my business for the last two years and what I’ve done isn’t working.”
• “I want to start my business right; I know I need a plan.”
• “I want to earn more money.”
• “I’m frazzled. I network and market all the time and am not seeing the results I once saw.”
• “I am creating a new position within the company. I need to bring the concept to my boss in an organized way.”
• “Although I work for a company, I’m paid on commission, and I need a plan to expand.”
• “I want to open a branch office, but I can’t see having two unorganized offices. I need the first office organized, and systems created before I start the second.”
• “I don’t like my business model but don’t know what to change or how to do it.”
• “My business does not have an inner brand, niche, or focus.”

Back in 2000, with a year-old business of my own, I had the opportunity to attend a one-day planning program which helped me to create a plan on a single page. This plan would encompass all of the plans mentioned above. As a participant, I realized the importance of planning strategically before attempting execution or implementation. Today, my clients use that same methodology to bring greater success to their businesses. And when someone wants me to create the plan for them, I do it with them. My clients are present during the process, learning a system that can be reused in the future to make their lives easier-and more profitable-in the long run.