If your business plan for the year is little more than an annual budget then you’re not alone, nor are you alone if you don’t have a budget and forecast that’s up to date. Whether you’re thinking of selling the business at some point in the distant future, or you’re earning your pension now so plan to turn the lights off, close the door and retire when the time comes you need good financial information. If you sell the business no prospective purchasers will believe future projections if you’re not able to demonstrate past performance against projections. If you earning the money now, you’ll want to make the maximum you can - not only for your future but to re-invest in the business.
Financial plans don’t say it all so need some narrative - particularly any assumptions you’ve made.
There are two golden rules I stick to when helping businesses make plans:
they’re a living document so we review and re-forecast regularly
For a plan to be useful and living and yours, it’s no use if I retreat to my bunker and write a plan that you have to work to. Nor is it helpful if I plant myself in your office and taking up hours and hours of your time leaving you thinking you could have done it faster on your own. I work with clients to get input at various stages in the development of a plan so they understand it and there’s buy in.
It’s your business so the plan to build or change your business needs to be yours too. Some clients are fantastic at writing business plans, but they may not be sharing the relevant bits with all the staff, so staff can’t relate their targets to what their employer is trying to achieve.
Everyone's needs are specific needs in relation to planning so if you think you may need help with yours let’s have a chat over coffee.