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Insights How To Build A Business Plan

resonate • Aug 29, 2016

Whether you’re a startup or you’ve been in the game a while, your business needs a solid plan. Having a clear path for your business will help you to achieve goals and take your business where you want it to go. You’ve got the idea, you’re passionate and you have the willpower to make it all happen. But now it’s time to map it all out.

Unknowingly you’ve probably described your business plan to family, friends and maybe even clients before. It’s a comparison of where you are now and where you want to be in about 3-5 years time. If your goal is for greater assets, profitability, resources and capabilities, then you need to figure out how to turn this vision into reality.

K.I.S.S. Is an old saying; keep it simple stupid. Begin with simple and envision your future where you need to have a 5 year plan. This works for both large and small businesses.

Consulting an Accountant can help you review how your books and accounts look and what areas you should focus on to improve your business outcomes. There are a number of things you need to answer with regards to your business’ growth and development but here are some things to consider to help you get started:
• What products or services do you offer now and what will you offer in the future?
• What market trends will impact and affect your future success?
• Who are your competitors and how will you gain a competitive edge?
• Who are you typical clients and how will you fulfil their needs?
• What are your projected revenues and profits? Do you need to invest in equipment or assets?

Now that you understand why you need a business plan and you’ve spent some time thinking about the important factors, you now need to create one. Get started! Roll up your sleeves and get everything down on paper.

So you’ve done the planning, now it’s time to take ACTION! An action plan is an important part of a business plan. With your goals written down, you now need to link these goals to actions. Give yourself a time frame to help keep you accountable, even if it’s only 1 goal per month.

Lastly make sure your business plan falls in line with your brand. Branding is effectively the face of your business and the means by which you communicate with your clients. It’s essentially how you tell your story. Once you have branding in place make sure everything across your business ties together and be consistent! Being professional and consistent is one of the best ways you can convince your potential clients that you do what you say you do.

If you need help mapping out a plan for your business, WE CAN HELP. Please contact our office via email info@resbc.com.au or phone 08 6298 7320.

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