At AK Accountants we can assist you with business planning, cashflow forecasts and starting your business
A good business idea needs a good business plan with sound financial information and a strategy to make the idea become a reality.
Preparing your business plan
Most start-up businesses will need funding and a business plan not only allows you to see if the idea can be profitable but it also allows a bank or any other lending provider to understand your idea and how the business will shape itself.
Business plans need to be clear but should explain:
- The line of work you are going to be in
- The gap in the market
- Where you will fit in this marketplace
- What the goals and objectives of the business will be
- What your unique selling points are
- A sales forecast that will show that the idea can become an interesting prospect
If you are seeking funding or looking to attract investors in to your business, you will need to present a convincing image of how your business will look.
At AK Accountants, we know exactly what information is required and how it can be presented. This will provide you with a better chance of success when it comes to receiving funding for your business.
If you are looking to create and present a credible and professional business plan then talk to your local TaxAssist Accountant today. Our accountants can work with you to make it clear your intentions to start your business in the right manner.
Business plans have a bad reputation because people often think in terms of ten page documents explaining everything about the business to the outside world. A good business plan only needs to be a one page action plan setting out what will be done, by whom and by when.
Forty years ago a study was undertaken at Yale University to identify which characteristics made people successful. Amongst all the criteria analysed one stood out. Over 20 years, the 3% with a plan accumulated more wealth than the 97% without one.
Top sports stars often think about what they want to achieve and then the level of performance they need to reach in order to achieve that outcome. Then they list out all the things that they need to do in order to reach that performance level. And then as Nike is fond of saying they "just do it".
But you don’t just have to be an Olympic athlete to think like this. Every owner manager should be thinking in the same way and as soon as you have that list of things to do you get on and do it. If you think in this way the performance and the outcome will take care of themselves.
Help is at hand
But if it is that easy why doesn’t everybody do it?
Well the simple answer is that you often need some outside help. An experienced strategic planner can over the course of a day help you to identify the individual things that you need to do in order to be wherever it is you want to be in five years time and what changes are needed to get there. A4G developed the unique Improve and Grow Strategic Planning Day and have been running these sessions since 2002 with the owner-managers of many businesses large and small.
Where are you going...and how will you get there?
Take a day away from the office to identify where you want your business to be in five years time and how you will make the changes you need in order to get there.
The contents of the day include:
- Identifying your vision of the future and what stops you from achieving it
- Looking at the qualities of your business and what you need to protect
- Review of your products and services
- Considering the needs and wants of your customers and potential customers
- Your systems and procedures
- Anticipating and coping with change
- Achieving profitable growth
- Reviewing your role in the business
- Making it happen