Why Business Plans are Essential
Anyone who owns or is considering starting a business, is best-advised to write a business plan. A business plan is perhaps one of the most important documents that your business can have, and it can be written at any point. It is used to achieve many things, such as seeking start-up finance and engaging suppliers, customers & partners in business, employees, investors and lending banks. However, the most important reason to write a business plan is for your own direction and planning out all future aspects of the business. A business plan serves multiple purposes. A few of these are:
• To create a roadmap to a successful venture and to recognise its long-term direction.
• To describe who you are and what you do (your focus).
• To scope out your customers and competitors.
• To make sure your finances are in order.
• To consider a strategy to pay off any debt incurred along the way.
• To anticipate issues and problems before they occur.
The Quinn Group has developed a Business Plan manual and workbook, comprised of all the necessary elements to put together a tailored plan for your business. This involves the inclusion of your vision/mission statements, a marketing plan (including a strengths/weaknesses/opportunities/threats analysis, as well as the marketing mix), legal considerations, operational plans and financial statements and information. The financial aspect of the plan allows you to develop pro forma financial statements that match and support the text of your business plan with numbers. The financial plan will include start-up costs, sources of initial funding, cash flow statements, balance sheets, income statements and the summary of financials.
By including all of these points within The Quinn Group business plan, we enable you to provide readers with a feel and understanding of what your business is all about, not to mention give you a clear definition of who you are, what you do and where you are going.
Financial statements and business plans are often seen as perplexing and time consuming, but this need not be the case. Here at The Quinn Group we take the confusion out of the situation with our tailored business planning process. Using our Business Plan manual and workbook, we can assist you in putting together a personalised business plan for your business. If you are interested in preparing a business plan, please contact us on 1300 QUINNS to organise an appointment or submit an online enquiry for more information.
