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Straightforward Publishing - John McCormack

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80 pages

English

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Informations
Extrait

Description

This Revised publication in the Straightforward Guides Series, The Straightforward Business Plan, is a comprehensive guide to all aspects of the ongoing planning and development of a business including internet-based businesses. The book covers all aspects of business planning. As the economic climate gets tougher then the importance of creating a successful and effective business plan is that much greater. The book will prove invaluable to all those who are involved in setting up a business, whether small or medium size.

Sujets

Gestion et management

Informations

Publié par	Straightforward Publishing
Date de parution	25 octobre 2019
Nombre de lectures	2
EAN13	9781913342265
Langue	English

Informations légales : prix de location à la page 0,0300€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

Extrait

THE STRAIGHTFORWARD BUSINESS PLAN
John McCormack
Editor: Roger Sproston
Straightforward Publishing www.straightforwardco.co.uk
Straightforward Co Ltd 2019
All rights reserved. This book may not be copied in any way, either in a retrieval system, or electronic or mechanical copying without the permission of the copyright holder. A British Library Cataloguing in Publication data record is available from the British Library.
ISBN: 978-1-84716-964-8 ePUB ISBN: 978-1-913342-26-5 Kindle ISBN: 978-1-913342-35-7
Printed by 4edge Ltd www.4edge.co.uk
Cover design by Straightforward Graphics.
The information in this book is correct at the time of going to press. The author and publisher have no liability for errors or omissions contained within or for any changes in the law since publication.
CONTENTS
Introduction
SECTION 1. WHAT IS A BUSINESS PLAN?
Chapter 1. The Purpose of a Business Plan
What is a business plan?
How long must a business plan be?
What resources do you need to produce a business plan?
Key points from Chapter 1
Chapter 2. Ten Quick Tips When Writing Your Plan
Writing your plan for the reader
SECTION 2. SETTING OUT OBJECTIVES AND STRUCTURE/LOCATION OF YOUR BUSINESS
Chapter 3. Setting out Clear Objectives for Your Business and Defining a Business Strategy
SMART Criteria
Mission statements
Defining your Business Strategy
Strategic analysis
PESTE Analysis
Political
Economic
Social
Technological
Environmental
Auditing resources
Physical resources
Human resources
Financial resources
Evaluation of future options
Strategic implementation
Planning and allocation of resources
The Structure of a business
Management of people and systems in a business
Business control systems
Strategic threats
Key points from Chapter 3
Chapter 4. Choosing The Structure of Your Business
The sole or proprietary business
Partnerships
The Limited Liability Company
Looking at Franchises
Advantages of a franchise
The disadvantages
Different types of franchise
Patents and registered designs
Patents
Registered designs
Trademarks
Service marks
Copyright
Key points from Chapter 4
Chapter 5. Location/Premises/Employees-Making the Right Choice
Location of your business
Working from home
Planning permission
Change of use
Health and safety at work
Inspectors
Employing people
What are my responsibilities as an employer?
National Insurance Contributions
Discrimination and the Law
Trade unions
Tax and national Insurance-more details
The law and you as an employer
Recruiting and motivating employees-doing it yourself
Job centres and employment agencies
Training
The personal approach
Key points from Chapter 5
SECTION 3. SORTING OUT YOUR MARKETING AND PRICING STRATEGIES
Chapter 6. Marketing Your Business
Market research
Marketing generally
Advertising
Leaflets
Directories
Advertising in magazines
Newspaper advertising
Television advertising
Radio advertising
Using an agent
Direct mail
Using sales representatives
Internet marketing
Search engine optimisation
Making your site visible to search engines
Quality content
The use of key words and phrases
Search engine marketing
Purchasing traffic
Email marketing
Affiliation
Using vouchers and coupons
Co-registration
Social media
Blogging
Market places (ebay etc)
Key points from chapter 6
Chapter 7. Pricing Your Product-Creating a pricing Plan
Pricing your product
Your costs
Example
Competitors prices
Key points from Chapter 7
SECTION 4. FINANCIAL CONTROL OF YOUR BUSINESS-CREATING YOUR BUSINESS PLAN
Chapter 8. Raising finance
Investment of own funds
Short-term finance
Trade credit
Factoring
Invoice discounting
Long-term finance
Business loans
Hire purchase and leasing
Finance leasing
Operating leases
Contract hire
Soft loans
Grants
Crowd Funding and peer to Peer lending
Key points from Chapter 8
Chapter 9. Exercising Financial Control
Profit and loss forecasting
Cashflow forecast
Preparing a forecast
Other Terms
Over trading
Collecting money on time
Check customers ability to pay
Set out terms of trading
Set up a system
Keep clear and accurate records
Collect your payment on time
What information must be kept?
The advantages of a bookkeeping system for your business
How to record the information you need
Proprietary systems
The analysed cash book system
The double entry system
Computerised systems
Key points from Chapter 9
Chapter 10. Creating Your Business Plan-Finer Points
Constructing the Plan
Main considerations
Presentation
Chapter 11-Example Business Plan Template
Chapter 12 Tips When Buying an Existing Business
Inspecting a Business for sale
Goodwill
The process of purchasing a business
Conclusion
Useful addresses
Index
**
INTRODUCTION
The latest in the series of publications in the Straightforward Guides series, The Straightforward Business Plan, Revised Edition, aims to give the reader a clear and concise introduction to the various aspects of effective business planning.
This book has been produced with a view to providing the reader with a practical understanding of what is involved in the process of business planning, whether your business is traditional or an internet based business. As such, it is targeted at those individuals and organizations that have no experience of business planning but would benefit from an understanding of these processes.
Organizations which will benefit include; sole traders, partnerships, small companies and voluntary organizations, on the other hand students of business studies and economics will also benefit. The book also aims to provide a comprehensive insight into business planning for anyone hoping to start up their own business.
The book includes invaluable information on setting up a business, employment law, marketing and also finance. There are a number of newer methods of obtaining finance for business. Crowd-funding and peer to peer lending are relatively new and there is also a newer method is financing by internet giants such as Amazon and Paypal. In terms of Amazon funding, a business would need to be trading successfully on Amazon and then would be offered loans, or would apply for a loan, to expand their business. Typically, the current interest rate is 6%. However, whatever method of trading or funding, in order to create the business in the first place you need to have followed a plan.
A model business plan is included which will help in the initial stages of business growth. You might find it useful to visit either www.bplans.co.uk or www.business-plans.co.uk both of which offer a range of different business plans for a wide variety of business. These will help you to tailor your plan to the business that you have in mind.
The whole process of business planning involves thinking and asking questions, and it is to these questions we now turn. Although most people who are faced with the prospect of producing a business plan, in particular in response to a request from their bank manager, feel daunted, the process is actually straightforward and with the aid of this book the task should be that much simpler.
**
SECTION 1
WHAT IS A BUSINESS PLAN?
Defining a Business Plan
Tips on writing a Business Plan
Ch. 1
The Purpose of A Business Plan
What is a business plan?
When answering this question, it is tempting to say that a business plan is a document which the budding entrepreneur can present to his or her bank manager, or prospective funder as a means of assuring them of the viability of the proposed business, thereby securing start up funding.
In a sense, this is true. Banks are usually reluctant to finance small business start-ups, simply because so many have gone bust over the last ten years. Moreover, they have done so, according to many economic commentators, precisely because such small businesses have not thought about how it is they are going to survive and prosper in what is almost always a very competitive environment; they have not produced a business plan.
It is, therefore, erroneous to see business plan as simply a tool for negotiation with the bank manager. A business plan is, above all, a strategic document which assists the entrepreneur to think very carefully about all the aspects of the business that they are getting involved in. A good business plan will illustrate detailed research and evidence around such aspects of business as:
The product/service; what exactly is it? It may be obvious to you, but unless you spell it out it may not be clear to your customers;
The market; is there evidence of demand for your goods and services? Is the competition fierce? Are you entering a niche market? Is the market prone to fluctuation for any reason?
If so, how do you propose to deal with this?
Your unique selling point (usp); what is it that makes your goods and services better than those of your competitors? Price? Quality? Anything else?
Yourself; have you got what it takes to be successful in your line of business? What relevant experience/training have you had? How do you propose to remedy any shortcomings in these respects?
Business development; what sort of life span are you putting on the business? What are your ultimate business objectives? Growth? Diversification?
Capital funding; what level of funding, if any, do you need to start up your own business? How much money can you afford to put into it?
Management and personnel; are you intending to employ other people? If so, what will their roles be? How will they relate to you? Are you aware of the legal and cost implications of employing staff.
Legal requirements; is your proposed business subject to certain legal requirements, e.g., health and safety legislation, fire regulations, VAT, licensing etc.
Location and premises; from where do you prop