“Great Business plans maximise the chances of business success”. Jahan Aslam
All businesses, whether they are in the birth stage or later stages, require funding or need to attract investors and new stakeholders at some point along the way. The perfect way to go about this is through a business plan. We have a team of highly qualified professionals with years of experience in helping small business with their business plan, whether that’s to get funding from a bank, potential investors or just to help plan the future growth of a business.
We have worked with hundreds of startups to create their business plans, which won them funding in terms of investments and loans. We know exactly what banks want so we create the perfect proposal.
What Is A Business Plan?
It is primarily a document that describes in detail the core objectives of your business. It further expands on these objectives by explaining how you plan on achieving them. Additionally, a business plan also dictates how you will be generating a profit and how the business will survive and grow over time. It contains all your marketing and sales plans, strategies, goals, financial forecasts, and aims.
Anyone who would invest or lend their money wants some sort of guarantee that their money will be returned or generate interest. Therefore, all investors or banks who lend invest money in businesses require them to have a solid business plan. A thorough demonstration of how financials will be handled is required in order to win the confidence of these people to achieve the funds. Only a good business plan can win a loan, so you should work on one effortlessly.
Having a business plan allows you to have a plan to refer to anytime you come across a problem. You can go back to the plan and see what sort of strategies you planned on implementing and where what went wrong. It can be used as a guide which can be consulted for any financial, management, or technology-related matters.
Once you draft a business plan and view it from practical terms, you will be able to identify all the potential pitfalls and weaknesses it may have. In this way, it is easier to get rid of them well before time instead of having to face the consequences of them later. Moreover, you can seek the help of professionals and experts at the right time in case you point out any weaknesses in your plan.
Stakeholders don't run the business. However, they do require you to fill them in with whatever that is going on in the business. Seeking tax advisory services becomes easier. This can be done so with the business plan. Moreover, you can win the confidence of potential stakeholders with a solid business plan draft. You can secure credit, convince people to work with you or attract potential customers with a robust business plan.
You may think that spending time on creating a business plan is of no use. In reality, it is the other way around. Creating a business plan has several advantages that no business should forego. While a business plan is necessary to apply for a start-up loan, you can still significantly benefit from having one. Here are seven critical things a business plan does for you:
- It has all your thoughts and ideas about the business and how to run it in an organized order. As a result of this, your vision is clear to anyone who goes through the business plan.
- Having structured business plans allows you to see your idea clearly. Consequently, you can identify any potential problems or issues in achieving your goal on time and solve them.
- If you have a business plan since the initial stages, it will be easier to see a clear way through when things get complicated. You will have everything already planned out, so when things get busy, it won't be that hard to manage the time and work.
- A good and convincing plan is essential for achieving or winning any sort of finances for the business. Most importantly, if you are applying for a startup loan, it is a mandatory requirement by the banks or the investors. Here, only a solid and good business plan can convince them to fund the loan for you.
- A business will act as a control group for the experiment. You will have something to compare the progress of your business with over time.
- Creating a business plan and circulating it through the whole team has its benefits. Once everyone is familiar with the business plan, they will be aware of your vision. In this way, everyone will be working towards the same mission together.
- A business plan is about how you plan to run the business. However, it can also help you to plan for the future of the business.
This section of the business plan needs to demonstrate how you will manage the funding for the business. All business activities require funding. You need to make it clear where all the funds will come from and in what amounts. Moreover, you also need to mention how much money you expect to generate.
You Own Dedicated
Have yourself a dedicated accountant completely at your disposal. The accountant will work hand in hand with you. Each and every single thing will be passed through you. We make sure that our clients stay on top of their businesses. Understanding the business is key to preparing great business plans. Hence we work closely with you to understand your business.
Having an accountant to prepare your management accounts is one thing. However, having a dedicated accountant can do wonders. We offer a dedicated management account to our clients. In this way, the accountant walks through the clients through all the numbers. As a result, you stay on top of your business's finances and reports. The results of this activity will be that you will be able to make a well-informed decision with the help and advice of a profession always at your disposal.
I trained as an auditor with top 20 accounting practices in UK and worked in numerous roles before joining Fusion in 2013.
With over 15 years of experience, my specialisms include assisting SME businesses with business advice and to provide support to achieve growth goals, process standardization and model their business plans.