A business plan is a fundamental requirement for any business.

Preparation of a plan will force the business manager to think through their objectives and lay them out clearly. The process of plan preparation helps to fill in gaps in thinking and communicates the business strategy.

Plans help owners and managers to:

• focus their ideas and efforts;
  
  
• assess current capabilities, strengths and weaknesses;
  
  
• identify the future potential of the business, the opportunities and threats;
  
  
• identify and evaluate different approaches and strategies;
  
  
• determine what must be done to implement the strategy; and
  
  
• set benchmarks and milestones to measure progress and success.

Perhaps even more importantly, a Business Plan is the essential instrument for attracting external investment (whether from a bank or elsewhere) into the business. Investors require to be convinced of two things:

• that the business has the potential to provide a sufficiently high return in relation to the identified risks; and
  
  
• that the business (and management) are capable of exploiting that potential while minimising the risk.

sYnance can help you construct your business plan, taking your ideas and strategies, building the financial models and tailoring a presentation for any audience - bank, external investor, equity partners - or simply to provide you with a list of goals and timescales against which you can measure achievement.

If we can help, email us on planning@synance.com

Back to home page