Business Plans Necessity or

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Business Plans Necessityor nice to have?

• Roderic Rennison
• Director, The Ideas Lab

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Objective of workshop

• To enable you to decide if your firm needs a
  business plan to increase the chances of success
  and if so, how to go about writing it

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A business plan is more than numbers
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Agreeing what and who the plan is for

• The Plan content should reflect its purpose and
  audience
• To enable the firm to plan and manage its future
  activities
• To set up a new business or venture
• To raise finance
• To sell the business

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What to include and what to omit

• Whats relevant!
• Less is more
• What you have been asked to and sometimes not

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Business Plan Content

• Executive Summary
• The business
• Market demand
• Competition
• Strategy
• Resources
• Financials and forecasts
• Risk, opportunity and sensitivity
• Conclusion/Recommendations

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Whether, how and where to get help

• If in doubt, do a second opinion is helpful
• Sources of assistance
• Business colleague
• Accountant
• Business consultant
• Books/The web
• Writing a Business Plan Vaughan Evans FT
  Publishing

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How to write the plan get the resource,and
buy-in

• Writing the plan
• Research
• Preparation
• Drafting
• Review
• Presentation
• Getting resource
• Ask!
• Obtaining buy-in
• Know your audience

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Putting the Plan into operationand monitoring it

• Implementation
• Present clearly and effectively and disseminate
• Allocate responsibilities
• Agree timelines and reporting
• Monitoring
• What gets measured, gets done
• Dont let timelines slip
• Update at appropriate intervals
• Adapt to changing circumstances

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Lets debate!
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