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Published byArron Merritt Modified over 8 years ago
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Business Planning The Key to becoming Commercially Viable
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Competent & experienced managers Capable of setting budgets Capable of analysing financial management reports Capable of setting service goals & KPI’s Familiar with strategic plans Premise
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Disruptive environment Changing funding landscape Revamp business model Need to be commercially viable Embrace marketing & sales strategies Challenges
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You cannot solve new problems with old ways of thinking Mantra
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Business Plan versus Strategic Plan Strategic Plan Internal Document Goals Resources Budget KPI’s Business Plan External Document Used to drive future & growth Used to assess feasibility Secure finance Used to secure investors
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Market Research Competitive Analysis Business Model Financial projections Management Team Action Plan Contents of a Business Plan
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Apply to existing services where funding is now in hands of customer Apply to new products & or services to sell to existing customers Assess innovative social enterprises Business Plan = Feasibility Plan
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Commercial idea Product or services New to Market Extension of expertise or existing services Product assurance / warranties Future opportunities What are you selling?
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Feasibility Test CustomersCompetitorsPriceResources /Operations Financial Investment Need -DesireWhoHigh PriceExpertise R& D What are the Benefits Market ShareMedium PriceQualificationsCapital Psycho / socialUSPLow PriceProduct sourcing / design Cash flow Budget DemographicsMarketingROIDistributionKPI’s Capacity to buyStrengthsMarginsStaffingmanagement Why Buy from You WeaknessesVolumeITmonitoring Where are they buying now? Distribution channels Positioning / Brand SpaceProfit
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Market Research Who wants or needs your Product Service? Who are they buying from now? Why would they buy from you? How would they buy from you? Price / ROI
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Internal Sources Existing Clients; staff; External Sources Web searches, ABS, Council Directories, LGA profiles, profile id Competitive Analysis
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Strengths Weaknesses Opportunities Threats Competitive Analysis
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Product / Service Price Margins Easy to sell Competitive advantage Ideal customers Resources required Risk Assessment Business Model
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Capital Budget Price / Margins Cash Flow budget Investment Financial KPI’s Management reports Financial Projections
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Who Capacity Responsibilities Budget KPI’s Management Team
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Target Market Marketing Mix Sales Forecast Marketing Budget Marketing plan
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Characteristics of a good plan Realistic Factual Objective Concise
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Poor Appearance Outdated Information Overly Optimistic Misunderstanding Financial Data Unsubstantiated Assumptions Ignoring Environmental Factors Common mistakes
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Actions OutcomeAction required ResponsibilityTime Frame
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BEC Southern Sydney - LGA’s Sutherland, Kogarah, Rockdale, Canterbury & Bankstown Web: becsouthernsydney.com.au Ph: 95455900 Small Biz Connect - Providers throughout NSW Web: smallbusiness.nsw.gov.au Ph: 1300 795 534 or (02) 8222 4800 www.business.gov.auwww.business.gov.au – Online tools & templates Need Help
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