"Start with the end in mind”

journey-to-success-in-5-easy-stepsA strong business plan is the foundation of any small business, whether your business is a start-up or looking to achieve growth. Think of your business plan as a roadmap for your journey. You can hop into the car and start driving right away, but at some point, you’ll get lost, or come to a point where you’re not sure which direction you should go in.

business-planning-belfastCreating a business plan lets you set out your timescales, your objectives, and the steps you need to take in order to make your business successful. Doing a business plan forces you to run through your business in advance and not leave it to chance. It’s essential if you’re going to give your business the best chance of survival and fundamental in achieving growth. Businesses need to plan for both the long term (greater than one year) as well as for the short term.

The following are some of the ways that we can help with long term planning

Initial Business Plan creation - Establishing your business goals and the path your business needs to take to achieve them

Strategic 3 Year business plan – Setting you long term targets so that you define what success looks like before you start

Working Capital Management – Ensuring that your business is able to meet all its financial obligations.

The following are some of the ways that we can help with short term planning:

Annual budgeting - Creating a detailed plan for achieving financial and operational goals for the forthcoming year ahead using a timely and structured approach.

Monthly forecasting – Reviewing your annual budget frequently and making the necessary adjustments from observed or anticipated changes in the operations or business environment

Risks and Opportunities – Identifying the business risks and opportunities in a manner that ensures that both long and short term objectives are achieved and that any potential opportunities are identified, explored and maximised where possible

Monthly variance analysis – Monitoring deviations between the planned and actual financial performance of a business and identifying reasons for the same. A variance in management accounting may be favourable (costs lower than expected or revenues higher than expected) or adverse (costs higher than expected or revenues lower than expected).

Budgeting, planning and forecasting are critical management tasks that impact the future success of an organisation and can threaten its survival if done badly.

If you would like some help in any of these areas of your business, contact us today