The planning stage is an essential element of any successful business, particularly for a start-up business. It is also the element that is all too frequently not carried out properly.
It is the stage at which hard questions need to be asked (and answered). Is there truly a market? If so how does one get the new business established in it? Anyone can write a 3-year plan, but can they write a realistic plan? In doing a cash flow or P&L forecast it’s easy to put in the figures you would like to achieve, but are they really achievable or are they simply wishful thinking?
Existing Business Plan Advice
If you are inexperienced in the process it is important to get suitable advice and guidance, or at least a second opinion (just make sure it's an experienced opinion). This is where Business Finance Services Ltd can help. We can advise on the effectiveness of an existing business plan or we can call upon a team of experienced professionals to help in formulating a new plan.
Whether you are submitting an application to a Bank for new funding or looking for an Investor, a well structured, realistic Business Plan with believable forecasts is essential.