““A Goal Without A Plan Is Just a Wish” – Antoine de Saint-Exupéry”

Benefits of a Business Plan

A business plan sets out in writing the business, its objectives, strategies, the market it operates in and financial forecasts. For many businesses, they are only prepared when requested, for example by a lending institution or investors. However, the business plan should also be used as a tool to focus the mind of senior management on the goals of the organisation and as a roadmap to success.

By having a formal business plan in place progress can be measured, pitfalls identified and targets set.

Considerations

A business plan should be flexible, reviewed at regular intervals and updated as and when required.

A good plan will address more than just the financial forecasts. Matters to be incorporated in the plan could include:

  • The nature of the business

  • The mission statement & ethos

  • The current business structure

  • Key personnel

  • The target market – size, sustainability, strategy and access

  • The offering - products, services, customers and marketing

  • Major suppliers and trusted advisors

  • Operational requirements

  • Key Performance Indicators – Quantitative and Qualitative

  • Risks and how they are minimised or addressed

  • Financial projections

  • Financing requirements to achieve the stated goals

How we can help

HLB Sheehan Quinn have decades of experience in assisting clients with their business plans. We work with our clients to ensure that the plan reflects their strategies and goals, addressing the key considerations whilst being flexible enough for them to review and update as necessary.

Whether the business plan is to be used to support lending from a financial institution, to attract investment, to be a tool of management or all three, we can help to ensure that it has the right focus and ticks all the boxes.

If you want help to formalise your business plan and have a flexible, structured, ambitious but achievable document to focus the efforts of your organisation then contact our team today and we’d be delighted to assist.