How to write a Business Plan – one you can actually use!
One of the wealthiest clients I’ve ever had told me his secret for preparing his Business Plans.
(It obviously worked, he had businesses in 8 countries, I looked after his Australian interests - he lived in the Southern Highlands and kept his Ferrari under a blanket at night!)
He said, “Pete, get three bits of paper. On the top of each page, write, ‘Where am I now? Where am I going? How am I going to get there?’
“If you can’t summarise the key points for each of these headings on one page, it’s not a Plan, it’s dribble.”
Let’s look at them in more detail:
Where am I now? This is a snapshot of your current position;
- Sales
- Profit
- Assets
- Debts
- Staffing
- Marketing strategy
- Conversion rates
- Client base
- Supply chain
Where am I going? This is a snapshot of your EXPECTED position. Use the same categories as above;
- Sales
- Profit
- Assets
- Debts
- Staffing
- Marketing strategy
- Conversion rates
- Client base
- Supply chain
How am I going to get there? This is strategy. Identify the steps you need to take to get there.
Let me know if you’d like a worked example to use as a starting point for your own plan.
Peter
