A Business Plan is a very useful document to help you plan your business structure, various strategies and financials to name the basics.
I have included an example business plan for reference to make decisions on creating your own plan.
Third i Studio Pty. Ltd.
123 Fake Street
Ballarat, 3350
VIC
t: 03 53 400 123
e: contact@thirdistudio.com.au
w: www.thirdistudio.com.au
ACN: 64 456 465 546
Date Plan: May 2017
---------------------------------------------------------------------------------------------------Contents Page:
Section 1 – Executive Summary
- 1.1 Proposed commercial idea
- 1.2 Marketing
- 1.3 Operations
- 1.4 Finance
Section 2 – Business Description
- 2.1 Mission Statement
- 2.2 Business background
- 2.3 Business goals and objectives – short term, mid-term, long term
Section 3 – Marketing
- 3.1 Market Research
- 3.2 Market Analysis / Characteristics
- 3.3 Competitor Analysis
- 3.4 Marketing Plan
- 3.5 Evaluation of Marketing
Section 4 – Operations
- 4.1 Location
- 4.2 Staffing and Training
- 4.3 Legal and licencing requirements
- 4.4 Business Premises
- 4.5 Business Processes and logistics
- 4.6 Business processes and logistics
- 4.7 Insurance and security evaluation
- 4.8 Occupational Health and Safety
Section 5 – Management
- 5.1 Directorship and management team
- 5.2 Brief resumes of key personnel
- 5.3 Business structures and ownership
- 5.4 Advisors and consultants
Section 6 – Financial
- 6.1 Explanation of financial information
- 6.2 Financing the business
- 6.3 Statement of Financial Position
- 6.4 Statement of Financial Performance
- 6.5 Cash-Flow Statement
- 6.6 Financial Analysis and Forecast
Section 7 – Environmental Sustainability
- 7.1 Definition
- 7.2 Policies and strategies
- 7.3 Certification
Section 8 – Critical Risks and Contingency Planning
- 8.1 Identification of potential risk areas
- 8.2 Proposed Contingency plans and solutions
Section 9 – Harvest Strategy
- 9.1 A paragraph to summarise what is intended for the business in the event of: a transfer of management, a transfer of ownership, merger, or complete wind up, what to do with assets
Section 10 – Milestones and Progress Schedule
Section 11 – Appendix, References and Bibliography
---------------------------------------------------------------------------------------------------Section 1 – Executive Summary
- Proposed Commercial Idea
To provide a unique building design company with the business premises located in the Ballarat region, specialising in unique design ideas, promoting and focussing on projects with potential clientele open towards design exploration. Although the business premises will be located in Ballarat, clientele will be sought from Australia wide. The services provided will be design and drafting of the designs of the building projects, including services of detailed design drawings to ensure the project design is fully implemented and realised as intended.
The company intends to employ 1 full time staff member within 2years to both co-manage projects and document them when the director is away from the office.
Within 5 years, the company plans to purchase residential land for residential development based on excellent building design principles.
The business plans to generate $45,000 p.a in the first year, with $19,000 net profit.
- Marketing
Third i Studio Pty. Ltd. will engage a professional marketing firm to kick start the business’s brand awareness campaign utilising all the best avenues for marketing. Online presence will be a big part of this and the company website will be designed by a professional web designer. In addition to professional marketing guidance, the following streams have been acknowledged to be critical in the makrteing:
Yellow Pages
Social Networking online and offline
Newspaper articles relating to political issues that could potentially affect the businesses services
Website
(If you build it, they will come)
- Operations
Initial business operations will be run by the sole director Andrew Espie-Whitburn from a home based office to begin with to keep overheads as low as possible at start up. Minimal to no outlay on equipment is required as all equipment required to run the business is already owned.
1.4 Finance
The business will be self funding requiring no credit at start up. The sole director Andrew Espie-Whitburn will invest $10,000 capital into the business start-up. The business vision and forecasts are not believed to require borrowing or lines of credit unless the business is progressing in a positive direction requiring faster additional capital to realise additional business avenues.
Section 2 – Business Description
2.1 Mission Statement
Third i Studio Pty. Ltd.is a highly unique creative interior and building design company,providing highly detailed house designs and plans that ensure the living experience of the space is best optimised for the client’s needs and desires for a unique building and internal spaces.
Third i Studio Pty. Ltd.plans to become a well-known designer that breaks free from existing design vogue’s, and demonstrate to clients and designers, that design should be approached more like artand should be an exploration of ideas rather than following trends.
2.2 Business Background
Third i Studio Pty. Ltd. is a new company that has emerged from a passion of detailed design and art, and extensive experience in working with Architects and Building Designers for nearly 2 decades.
2.3 Business Goals
The primary focus of the business for the first 12months is brand recognition of the unique design services available to potential clients, with the aim to acquire enough clients to generate a minimum income of $45,804p.a including operational expenses for the first year.
The business plans to purchase land within 5 years and build an office to complement the businesses mission statement objectives by building an office that is unique and expresses the nature of the businesses design processes and capabilities.
Section 3 – Marketing
3.1 Market Research
Market Research conducted to prepare this business plan has included utilising the following sources and analysing and interpreting the data :
ABS
Yellow Pages
Social Networking online and offline
Web search of existing businesses offering the same services and analysing the data
Newspaper articles relating to political issues that could potentially affect the businesses services
(If you build it, they will come)
3.2 Market Analysis
a) Industry Analysis
Building design services are increasing due to the solid renovation trend of existing structures, and expansion of old areas for new developments requiring new homes.
Recent newspaper articles have highlighted the state governments intentions to promote people locating to the region to ease congestion in the major cities through better public transportation, and also relocating 600 state government jobs to the region.
Ballarat region consists of predominantly old period homes with heritage overlays, and there is a need for building designers to provide services to design and document alteration and additions to these older homes, to make suitable for modern living conditions of the inhabitants.
Ballarat has also had a boom in housing as new house estates have been developed, and existing areas are also further developed. In addition to the housing boom, commercial works in industrial areas are also growing as new factories are built.
b) Seasonality
The building industry has a very clear down turn in activity from mid-December up to the end of January in Australia.
3.3Competitor Analysis
There are many established building design company’s and architects in Ballarat.
As per yellow pages listings online, a search provides 50 results for ‘Building Designers’ in the Ballarat Greater Region, this includes listings that are Architects.
On analysis of their mission statements and project types, they are all very similar in client audience targets and design styles.All competitors offer building design services for both additions/extensions and new homes. There are only a small number of building design firms offering services for commercial and industrial buildings.
3.4 Marketing Plan
The business plans to use a varied approach to marketing, including capitalising on existing customer base from an already existing venture.
Utilisation of online streams will be imperative to the business’s success. Online presence will include a personal business domain of both .com.au and .com, with the .com redirected to the .com domain. This is to protect the business branding.
Google adwords will be used as a permanent business advertising stream, with the use of Facebook advertising used to raise direct brand awareness.
Utilisation of the yellowpages.com.au directory will be tested for 12months as an advertising stream.
Local newspaper adverts will also be run weekly.
Existing customer base related to an existing product will be used via an email awareness campaign.
Free brand awareness through houzz.com.au will be used by setting up a business profile.
Business cards will be arranged with an emphasis on quality design and material to present a professional feel.
3.5 Evaluation of Marketing
All marketing channels will be analysed every 3months to review which avenue streams are the most beneficial. This will be done by asking contact with potential clients how they found the business details. Using this data, the business can assess all marketing streams and either invest into a stream that is beneficial and cut any that have little to no value for the ROI.
Section 4 – Operations
4.1 Location
The business will initially be a home-based business located at 123 Fake St, Ballarat VIC 3350, very close to the CBD of the major city of the region.
4.2 Staffing & Training
The business plans to stay small, preferably with no staffing at all. In the event staffing is required, suitable candidates with appropriate experience will be essential. Staff would be required to primarily provide documentation using a 2D CAD package such as AutoCAD or ZW CAD software or similar.
Training should not be required for the suitable staff if required as the primary business stake holder will ensure compliance with all documentation as required, and will inform staff as required.
4.3 Legal and Licensing Requirements
a) Business Name & Legal Structure
Andrew Espie-Whitburn Whitburn Building Art Pty. Ltd (ACN 69 123 234 456) is a proprietary limited company. The company structure is established with the primary and sole shareholder being Andrew Espie-Whitburn.
b) Operating Laws & Licences
Clause 52.11 of the Ballarat Planning Scheme for Permits to work from home states that the business does not require a permit to operate as currently structured.
4.4 Business Premises
a) Office
A separate room dedicated to all business operations will be used, including all equipment.
The premises are currently rented at $210 per week for the entire property.
b) Council & Government Rules
No permit is required to operate the business on the premises as currently structured as per Clause 52.11 of the Ballarat Planning Scheme.
c) Ability to Access Target Markets
The business premises are in the centre of the major region the business markets are located, and close to other potential business projects outside of the major city. Most travel will be minimal within 10km of the business premises in most cases. The business will not accept clients to the current premises.
4.5 Business Equipment
The business will use a lot of digital equipment in the operation of the business. Most equipment the business has already, and will only need updating or repair after many years.
The business ‘s main piece of equipment is a computer. This is the heart of the business operations in terms of producing a tangible product for the clients to use.
Equipment Requirements:
- Computer and Laptop (3 monitors)
- Software (CAD, Office Suite)
- Mobile Phone
- Colour A4 Laser Printer
- Colour A3 Ink Jet Printer
- Scanner
- Internet Access
- Desk
- Chair
- Filing Cabinet
- Book Case
All this equipment is currently owned.
Likely future needs:
Updating of existing equipment to either aid in work flow, replacement needs, comfort of work space.
4.6 Business Processes and Logistics
For business efficiency, analysis and financial viability, it is imperative to have standard processes in place and accurate records.
The main processes in operating the business will include contact interactions, time spent out of office, time waste minimisation utilising templates where possible, reference to risk management plan as appropriate.
The services/product delivered to clients will be highly variable in some instances, therefore an element of customisation will be required for each project.
To manage all aspects of the projects time allocation, the business can mitigate time wasted through use of standardised business templates, time specifically allocated to responding to emails, clear working hours set for business contact with no option for after hours contact.
4.7 Insurance & Security Evaluation
The business will require insurances to protect the business assets.
A requirement is to have professional indemnity insurance to protect the company’s assets in case of substantial liability as well as the client or affiliated entity. A cover of $10 million will be adequate for the types of projects undertaken over a year.
In addition, property and contents insurance will be taken to protect from both damage or theft.
4.8 Occupational Health & Safety
OH&S protocols for the director, clients, visitors and others where applicable will be managed by OH&S protocols to protect and minimise likelihood of injury to any person.
This will be done by assessing the risk of site visits, proper utilisation of equipment including office seating, and making access to the business premises safe.
Section 5 – Management
5.1 Directorship & Management
The company/business is directed by Andrew Espie-Whitburn as sole stakeholder. All business operations will primarily be managed by the director Andrew Espie-Whitburn.
Future management of the book keeping as the business builds may be outsourced to a 3rd party consultant.
5.2 Brief Resumes of Key Personnel
Director: Andrew Espie-Whitburn
Started working in the building industry in 1998. Extensive experience in both residential and commercial projects working with Architects, Building Designers and Interior Designers.
EDUCATION
Landscape Architecture RMIT University Melbourne
Adv. Diploma of Building Design & Construction Federation Uni Ballarat
Estimator / Detailer Pryda. Aust Blackburn
No personnel will be required at commencement of business.
Potential future personnel will need 5 years minimum experience working on complex residential projects and have a clear understanding of detailing components of a building. They will require their own computer and software to work from home and have access to the internet for sending files, and a phone whether landline or mobile.
5.3 Business Structure & Ownership
Director: Andrew Espie-Whitburn
Stakeholders: Andrew Espie-Whitburn (100%)
5.4 Advisors and consultants
Consultants:
Building Surveyor: Peter O’Donnell Building Surveying Pty. Ltd
Land Surveyor: John Smith Landscope Pty. Ltd
Structural Engineer: Sally Peterson BuildTech Pty. Ltd
Geo-Tech Engineer: Sam DavidsSoilTech Pty. Ltd
MEC Engineers: Stewart Lawson IPS MechTech Pty. Ltd
Advisors:
Ballarat City Council – Planning Dept. and Heritage Advisor
Section 6 – Financial
6.1 Explanation of Financial Information
The director of the business will invest $10,000 capital into the start up of the business. This amount will be utilised towards marketing utilising a marketing firm, professional web development of business web page and a basic wage until paid projects are required to sustain the business expenses and pay a wage.
No lines of credit will be required to begin the business venture and all equipment required is already paid for and available for use in the business operations.
6.2 Financing the Business
As the business does not require an initial outlay for equipment/software, no expenditure is required in this area. Professional indemnity insurance and additional insurances to protect the company’s assets will be funded from savings of the director Andrew Espie-Whitburn.
These savings will also be used towards all marketing streams and registration of company, business name and building practitioner registration.
6.3 Statement of Financial Position
Assets |
Liabilities |
|||||
Current Assets |
Current Liabilities |
|||||
Cash |
$10,000 |
|
|
|||
Accounts Receivable |
$500 |
Accounts Payable |
$250 |
|||
Office Equipment |
$6,000 |
Bad Debts Provision |
$500 |
|||
Office Furniture |
$200 |
|
|
|||
Total |
$16,700 |
Total |
$750 |
|||
Net Worth |
|
|
$15,950 + |
6.4 Statement of Financial Performance
PROFIT & LOSS |
Year 1 (2018-Projection) |
Sales |
$45,000 |
Gross profit/net sales |
$45,000 |
Expenses |
|
Accountant fees |
$520 |
Advertising & marketing |
$3,000 |
Bank fees & charges |
$120 |
Bank interest |
$0 |
Credit card fees |
$0 |
Utilities (electricity, gas, water) |
$1,000 |
Telephone/Internet |
$500 |
Lease/loan payments |
$0 |
Rent & rates |
$10,920 |
Motor vehicle expenses |
$1,000 |
Repairs & maintenance |
$1,000 |
Stationery & printing |
$100 |
Insurance |
$1,500 |
Superannuation |
$4,000 |
Income tax |
$5,000 |
Total expenses |
$25,940 |
NET PROFIT (Net Income) |
$19,060 |
6.5 Cash Flow
CASH FLOW |
July |
August |
Sept |
Oct |
Nov |
Dec |
Jan |
Feb |
March |
April |
May |
June |
OPENING BALANCE |
$8500 |
$10154 |
$12408 |
$14312 |
$16436 |
$18990 |
$20994 |
$23,648 |
$25612 |
$27966 |
$30520 |
$32534 |
Cash incoming |
|
|
|
|
|
|
|
|
|
|
|
|
Sales |
$3750 |
$3650 |
$3700 |
$3400 |
$3750 |
$3200 |
$3900 |
$3200 |
$3400 |
$3750 |
$3000 |
$4200 |
Asset sales |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
Debtor receipts |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
Other income |
$200 |
$0 |
$100 |
$120 |
$200 |
$200 |
$150 |
$160 |
$350 |
$200 |
$410 |
$130 |
Total incoming |
$3950 |
$3650 |
$3800 |
$3520 |
$3950 |
$3400 |
$4050 |
$3360 |
$3750 |
$3950 |
$3410 |
$4330 |
Cash outgoing |
|
|
|
|
|
|
|
|
|
|
|
|
Accountant fees |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
Solicitor fees |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
Advertising & marketing |
$200 |
$200 |
$200 |
$200 |
$200 |
$200 |
$200 |
$200 |
$200 |
$200 |
$200 |
$200 |
Bank fees & charges |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
Interest paid |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
Credit card fees |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
Utilities (electricity, gas, water) |
$100 |
$100 |
$100 |
$100 |
$100 |
$100 |
$100 |
$100 |
$100 |
$100 |
$100 |
$100 |
Telephone/Internet |
$90 |
$90 |
$90 |
$90 |
$90 |
$90 |
$90 |
$90 |
$90 |
$90 |
$90 |
$90 |
Lease/loan payments |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
Rent & rates |
$210 |
$210 |
$210 |
$210 |
$210 |
$210 |
$210 |
$210 |
$210 |
$210 |
$210 |
$210 |
Motor vehicle expenses |
$600 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
Repairs & maintenance |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
Stationery & printing |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
$10 |
Licensing |
$300 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
Insurance |
$80 |
$80 |
$80 |
$80 |
$80 |
$80 |
$80 |
$80 |
$80 |
$80 |
$80 |
$80 |
Superannuation |
$79 |
$79 |
$79 |
$79 |
$79 |
$79 |
$79 |
$79 |
$79 |
$79 |
$79 |
$79 |
Income tax |
$607 |
$607 |
$607 |
$607 |
$607 |
$607 |
$607 |
$607 |
$607 |
$607 |
$607 |
$607 |
Total outgoing |
$2296 |
$1396 |
$1396 |
$1396 |
$1396 |
$1396 |
$1396 |
$1396 |
$1396 |
$1396 |
$1396 |
$1396 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Monthly cash balance |
$1654 |
$2254 |
$1904 |
$2124 |
$2554 |
$2004 |
$2654 |
$1954 |
$2354 |
$2554 |
$2014 |
$2934 |
CLOSING BALANCE |
$10,154 |
$12,408 |
$14,312 |
$16,436 |
$18,990 |
$20,994 |
$23,648 |
$25,612 |
$27,966 |
$30,520 |
$32,534 |
$35,468 |
6.6 Financial analysis and forecast
Based on the expected business incoming and outgoing financials, the business will be viable to conduct into the future. An emphasis on increasing sales through advertising will likely be the best ROI to further the business into higher profitability. Expenditure will increase through marketing investment increases
Section 7 Environment Sustainability
7.1 Definition
Impact or potential impact on the business operations from local, national or global factors.
Impact or potential impact of the business operations on local, national or global environments.
7.2 Policies and strategies
The business will conduct itself in an environmentally conscious and ethical manner.
Environmental factors:
Equipment:
All equipment used in the business will be discarded and recycled as per best practice if and when applicable.
Materials:
All consumables of the business will be sourced as to be recyclable as much as practicable.
Energy:
The business will support using an environmentally sustainable energy seller and use low energy consumption appliances.
7.3 Certification
Where applicable and practicable, all suppliers of the business will have certification verifying their environmental sustainable credentials.
Section 8 – Critical Risks and Contingency Planning
8.1 Identification of potential risk areas
|
Helpful |
Harmful |
||
SWOT Analysis Chart – Design Practice |
||||
Strengths |
Weaknesses |
|||
Internal |
|
Cash Flow Problems |
||
External |
External back-up contract staff available if required |
Limited local secondary consultants in high demand |
||
|
Opportunities |
Threats |
||
Internal |
Design practice is expanding |
Struggling to meet project deadlines |
||
External |
Similar projects are coming forward with government funding |
Competitor design practices also keen to secure the same projects |
---------------------------------------------------------------------------------------------------
8.2 Proposed Contingency plans and solutions
Identification of Threats &Vulnerabilities:
Governance - Government laws could have ramifications in legislative contexts to the business, bad governance leading to recession
Economic - Poor economic periods could lead to lack of work to make business viable.
Competition - Direct business competition in services, pricing and quality
Theft - Potential risk of theft of equipment to operate business
Data Loss - Total failure of digital records, files etc. used to operate, record and operate the business.
Legal - Law suits directed at business due to incorrect documentation (human error)
Financial - Business becomes financially unviable due to lack of work
Reputation - Business reputation is negatively affected in the public spectrum
8.2 Proposed contingency plans and solutions
Governance:
Keep up to date with political issues potentially affecting business operations and assess business services, fees etc. As required to respond to potential or realised threats.
Economic:
-Increase in services offered for same fees / or, Decrease in fees during low economic periods and high competition.
-Business income insurance to ensure basic wage during potential extreme economic downturn.
-Business savings to pull from as required.
Competition:
Increase in competition will be approached in a multi faceted way:
-Increase in marketing campaign of brand/company awareness– highly aggressive in high competitive environment periods
-Increase in services offered for same fees / or, Decrease in fees during low economic periods and high competition.
Theft:
All business equipment will be insured for damage, theft, fire etc. Enough funds to purchase emergency equipment to enable business continuity will be kept in savings until insurance claim can be processed.
Data will be protected from theft – refer below “Data Loss”.
Data Loss:
Daily back up of all key and critical electronic data to 2 seperate removable storage drives disconnected from primary server after back up. 1 backup will be taken off the premises when no-one will be in the business premises.
All drives on the main server and removable drives will be encrypted in case of theft.
Legal:
Business will undertake sufficient insurance policies for both professional indemnity and public indemnity insurance to protect the business’s assests and viability due to potential legal issues arising through business operations.
Financial:
-Lower business fees and ad additional value to service of business to stimulate work.
-Diversify services and revenue streams
-Business income insurance
Reputation:
Identify negative business reputation and respond publicly to either defend allegations against business, take legal action against false negative statements about business, acknowledge negative feedback and demonstrate remedies to satisfy public criticism.
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Section 9 – Harvest Strategy
9.1 A paragraph to summarise what is intended for the business in the event of: a transfer of management, a transfer of ownership, merger, or complete wind up, what to do with assets
Third i Studio Pty. Ltd. Intends to trade between 15-25 years under the role of Andrew Espie-Whitburn as the sole director and manager of the company. During this period, if for reasons unbeknown at the time of writing this revision of the business plan, the business may require or desire to change this general business direction in time frame and management/ownership of the business.
If Third i Studio Pty. Ltd. wishes to continue business under other management, Andrew Espie-Whitburn will still retain ownership of the business name and branding, however will not be involved in operations of the business projects, accounting, insurance, legislative requirements or legal obligations. Andrew Espie-Whitburn will only hold the rights to the company name, business name, domain name(s) and equipment will take 9.5% p.a of the new managements net profits for equipment usage costs and maintenance, and business/company name registration and web hosting. New managements purchase of new equipment will be the new managements own assets they are responsible for.
Total transfer of ownership of Third i Studio Pty. Ltd. will involve selling on transfer of company name, business name, web domain ownership as well as all business assets/equipment. Transfer of ownership value of all items listed will be independently valued at time transfer is desired taking into account business annual net profits, clientele, business future prospects etc.
Merger of business will require independent valuation of all stakeholders current business assets and general business operational value, and expert advice of management of merger for a fair equitable agreement of each stakeholders assets and value and risks.
Termination of Third i Studio Pty. Ltd. will involve notifying any current stakeholders of the intention to do so, termination of all accounts or fees to 3rdarty services such as insurers, web hosting, accounting, legal, internet/telecommunications, registrations etc., gradual wind up of existing ongoing projects or transfer or projects to another business relevant stakeholders are comfortable with managing ongoing project(s).
Section 10 - Milestone and Progress Schedule
Month |
Milestone |
Details |
July |
Pre Business Start-up: |
Obtain registration of business name, domain name and building practitioner registration. |
August |
Launch marketing campaign, begin Trading |
All milestones from previous month should be in place and the business can now launch its marketing campaign officially. |
September |
Review marketing campaign |
Analyse where business is coming from, and alter spending to suit best marketing avenues. |
October |
Review Business Turn Over to Date |
Review project services fees to date and check against projected cash flow to ensure minimum targets being met. Increase marketing exposure if required. |
November |
Review business project types |
Review types of projects the business is attracting and evaluate if these are meeting the business’s goals and vision. Adopt strategy if not to realise goals. |
December |
Review business operations |
Review all aspects of business operations. Check financials against projected cash flow, analyse and assess data. Provide feedback survey to current and past clients on business service. |
January |
Review social media |
Review social media engagement with potential clientele, adjust to enhance presence. Spend on marketing over this period when potential clients will have more time to utilise social media during the holiday period. |
February |
Review Business Turn Over to Date |
Review project services fees to date and check against projected cash flow to ensure minimum targets being met. Increase marketing exposure if required. |
March |
Review business and business plan |
Review all aspects of business plan. Assess what is or is not working, consider business’s change of business goal directions etc. |
April |
Review Marketing Expenditure |
Review marketing avenues again and cut or extend spending as required. |
May |
Review business project types |
Review types of projects the business is attracting and evaluate if these are meeting the business’s goals and vision. Adopt strategy if not to realise goals. |
June |
Review financial year cash flow |
Assess accounting books against business projections of initial business plan. |
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Section 11 – Appendix, References and Bibliography
https://www.business.gov.au/info/plan-and-start/develop-your-business-plans
https://www.ingenics.com/intra-logistics/logistics-process-planning.php
https://www.inc.com/guides/business-plan-financial-section.html
http://www.investopedia.com/ask/answers/050815/what-difference-between-financial-forecasting-and-financial-modelling.asp
https://www.business.qld.gov.au/running-business/protecting-business/risk-management/preparing-plan/impact-analysis
http://smallbusiness.chron.com/harvest-strategy-business-plan-52874.html