Monday 27th Jul 2020
SMART Business Planning
Many people consider writing a business plan when starting a new business venture but it can be even more beneficial to businesses that are currently trading, highlighting areas for growth, ways to measure success and opportunities to mitigate threats.
A solid business plan takes you from where you are now to where you want to be in the future.
This programme has been specifically designed for established businesses looking to scale and grow.
Benefits of good business planning
71% of fast-growing companies have business plans
Business planning can help companies grow 30% faster
Who is this for?
If you are a small to medium size enterprise and have been trading for a number of years, this content may be useful in helping you scale and grow.
Many SME’s don’t have a business plan, they may be missing out on opportunities for growth and not realising their full potential.
Whether or not your business currently has a plan, it’s always a good idea to review it to make sure your business is achieving the best results its capable of achieving.
According to research, those who complete a business plan are about twice as likely to successfully grow their business, get investment, or land a loan than those who do not.
Source: Tim Berry, Palo Alto Software
What will I learn from this?
Working through these guides will give a robust framework for your business and encourage you to think of ways to improve what you already have.
You can work through the entire set 1-7 or you can dive straight into content that you know you need to address within your business.
1. Setting business objectives
Business objectives are the specific, measurable results that companies hope to maintain as their organisation grows. See More
2. Establishing a USP & competitor analysis
A Unique Selling Point (a USP, also known as a unique selling proposition) is what gives you an advantage in the market. It’s what you can offer that no-one else can. See More
3. Creating a marketing strategy
A marketing strategy is a business’s overall plan for reaching prospective customers. See More
4. Resource planning
Resource planning usually involves creating a schedule that details information about those resources – what they’re used for, when, and how. See More
5. Creating an operations strategy
A robust operations strategy should ensure your business is able to operate, and succeed, in any commercial situation. See More
6. Conducting a SWOT analysis
A SWOT analysis is a useful tool for small business owners that want to succeed in building a company, move forward generally, or perhaps tackle a new project. See More
7. Using a profit and loss statement
A profit and loss statement sets out the itemised details of sales and purchases that have been made by your business. See More