1. Preparing a Business Plan1

2. Four 1 Day Workshops + Follow Up Clinic for Business Plan Review
Schedule
Four 1 Day Workshops + Follow Up Clinic for Business Plan Review
Module 1
Introduction - Start Your Own Business and Personal Assessment
Module 2
Ideas Generation and Researching the Market
Module 3
Marketing the Small Business
Module 4
Preparing a Business Plan
Module 5
Legal Issues for Start Ups and Managing People
Module 6
Sales
Module 7
Bookkeeping and Records Management
Module 8
Financial Management 2

3. What we will consider Introduction to the Business Plan - Reminder
The purpose of a Business Plan
Special features of the Home Based Business Plan
Factors to consider
Contents of Business Plan
Sources of Assistance
Website resources

4. Reality Check Your Business Plan must be realistic
You must be satisfied that it is a realistic plan for your business, given the resources at your disposal in terms of finance and skills
It must be convince third parties (e.g. lenders, investors) that it is a realistic and viable plan
It should show scope for business growth
It must be intelligible, clear and well presented

5. How much money do you need?
Reality Check
When in business, it is up to you and nobody else to generate your income 5

6. The Survival Check Food Heat Light Home maintenance/repairs Shoes
Car loan
Mortgage/Rent
Motor Insurance
Road Tax
Home Insurance
TV Licence
Food
Heat
Light
Home maintenance/repairs
Shoes
Clothes
‘Phone
School books
Doctor
Dentist
Toothpaste
Shampoo
Cleaning materials
Petrol/Diesel
Hairdresser
Holidays
Hobbies
Pets
Vets
Entertainment
Presents

7. A business plan is a document which
Bringing it all together
A business plan is a document which
describes a business and its activities – including finances - over a given period of time.

8. Assess and Plan – The Business Plan
A road map for your business
“An intelligent plan is the first step to success. The person who plans knows where he is going, knows what progress he is making and has a pretty good idea of when he will arrive”
Basil S Walsh

9. The Road Map – Choices to be Made
3 hrs 10 mins; €40.18; km
3 hrs 34 mins; €36.95; km

10. Business Planning
Know where your position is
Know where you want to get to
The more precisely you know where you want to get to, the better you’ll be able to plan
External factors:
Other traffic on the road? Diversions?

11. Specific Measurable Achievable Relevant Time bound
Does it pass the SMART test?
Specific
Measurable
Achievable
Relevant
Time bound

12. The Business Plan Don’t forget the Five Pillars … Marketing Finance
Our Product/Service
People
Operations
The Business Plan

13. Does it meet your objectives?
What do you want to achieve?
Short – Medium – Long term …. 13

14. The importance of Business Planning
Provides direction and focus
Identifies aims and objectives
Sets targets
Identifies a plan of action
Establishes viability
Identifies potential problems
Provides a basis for monitoring and control

15. The importance of Business Planning

16. The home based business - Challenges
Remember…….
Invisibility
And
Credibility
These are major challenges
Business address?

17. Very important -Finance
Costs
Pricing
Break even
Funding
Financial projections
Cash flow
Financial management systems e.g. bookkeeping

18. Raise finance Functions of the Business Plan
Develop or crystallise a business idea
Assess viability
Anticipate potential problems
Enhance chances of success
Management and planning tool
Provide guidance and direction
Monitor and evaluate
Raise finance

19. Elements of Business Plan
Executive summary
Introduction/background
Products/services
Marketing
Operations
People
Finance
Appendices

20. Preparing the Business Plan
Use a cover and contents page
Divide into different sections and number pages
Keep information concise and easy to read
Use clear headings and a plain font
Use a clear structure and format
Break up text into small paragraphs
Check your spelling, grammar and accuracy
Use images and graphics where appropriate
Include literature (e.g. brochure if available)
Write in a positive and authoritative tone

21. Writing the Business Plan – Don’ts
Do not make claims you can’t back up
Do not waffle
Do not assume the reader knows the industry
Do not leave out relevant facts and figures
Do not overload on information
Do not oversimplify
Do not struggle with trying to make your plan fit into a generic template

22. You must….
Know your own Business Plan and
Know your figures inside out!
Don’t be caught on the hop with basics!

23. Sources of Support
Local Enterprise Office or similar
Business adviser/mentor/consultant Mentoring available from Local Enterprise Office
Accountant
Templates
Business planning books
Business planning software
Internet
Banks’ Websites e.g.

24. What we considered in Module 4
Introduction to the Business Plan
The purpose of a Business Plan
Special features of the Home Based Business Plan
Factors to consider
Contents of Business Plan
Sources of Assistance
Website resources

25. Four 1 Day Workshops + Follow Up Clinic for Business Plan Review
Schedule
Four 1 Day Workshops + Follow Up Clinic for Business Plan Review
Module 1
Introduction - Start Your Own Business and Personal Assessment
Module 2
Ideas Generation and Researching the Market
Module 3
Marketing the Small Business
Module 4
Preparing a Business Plan
Module 5
Legal Issues for Start Ups and Managing People
Module 6
Sales
Module 7
Bookkeeping and Records Management
Module 8
Financial Management