Business Plans

How to use, and when to ignore a Business Plan.

Business Plan dog treats

You will read that a business plan is essential.
You will read all sorts of ways about how to prepare one.
And, as with so much on the web it is rubbish.

Fund raising.

If you are trying to raise finance from a bank or outside investor they will want a Business Plan, but forget about 90% of the stuff you are told to do. You will want the:
  • Executive Summary
  • P&L for the last one or two periods
  • Projected P&L for one, three and five years
  • A schedule of what you are committing to the business.

And.. Importantly!

It is a really good idea to do a business plan for yourself. Do one with monthly and annual projections and check them every month. Find out why you didn’t meet target, real reasons not excuses, and fix it. (Nobody ever meets target on the learning curve, which is why it is called a learning curve.)