Fail to prepare? – Prepare to fail!
Anyone running a business or planning to set up in business should have a plan. It sounds obvious, but many businesses large and small come to grief quite quickly because the owners/directors didn’t spend enough time thinking through how they were going to run the operation. No matter how simple the business model is it’s important to cost things and work out how you’re going to make any money.
After all, if you don’t plan, how can you tell if things are going well or not? If you do not have a business plan Laumarc Securities can assist you in putting one together. If you already have a plan we can review it and benchmark it against the issues facing the business. The work involved in regularly updating business plans is often of necessity put to one side by busy owner/managers for whom the day to day issues mean that planning often if something that you merely plan to do but somehow there is never the time. Laumarc Securities can drive this process for you.
The plan needs to be reasonably comprehensive. If you're funding your business yourself, it is there mainly as a reference document for you, so you can check back and ensure you’re achieving what you set out to do.
If you're relying on your bank or outside shareholders, your business plan will have to be much more detailed and will need to include financial forecasts so you can predict how the business is likely to do and when your backers can expect to see a return on the money they have invested with you. Many businesses know their markets but turning it into the document that satisfies and makes backers comfortable may not come naturally to you but it does to us!
- Aims and objectives: Any good business plan should set out clearly what you hope to achieve. An approximate financial target, global domination or just a determination to sell a particular product or service will do.
- Quantify the opportunity: The business plan should also describe the opportunity. Have you spotted a gap in the market or realised that the only people providing a particular product or service are doing so very badly and you could do it better?
- Sales and marketing strategy: What is your strategy for getting products or services to market? You need to spell out in some detail how you are going to make and sell your products. How will your customers find out about it – word of mouth or will you advertise or promote your business in some other way?
- Financial detail: How is the business funded – what is its profitability and how seasonal are the working capital requirements? . These are just some of the questions that must be answered.
Why you should chose Laumarc Securities?
The experience of our consultants over the years has given them a good nose for what makes a good plan and what excites or disappoints particular types of reader.
We understand the importance and function of producing a plan for the business owners/managers as well as for investors and providers of funding.
We are able to guide you through to producing a concise, understandable document that communicates clearly your business opportunity. The plan may be for start-up purposes, expansion or a critical review of your business’ progress.
We are able to produce financial models tailored to your own and/or to the reader’s requirements. We understand what information financiers require and how to present propositions in the most appealing format.
Our services and pricing are flexible depending on your individual requirement and your initial consultation is free of charge.
We offer many services that extend beyond the business planning stage. We can help you implement your plan, for example by assisting with establishing management information systems. You will have a ready adviser that understands your business.
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