By John Westwood
Step one in beginning a enterprise is to attract up a close plan. such a lot companies of finance for start-ups or enlargement insist on seeing a marketing strategy ahead of they'll even think about the mandatory investment. A marketing strategy can also be valuable for marketers to explain their goals and goals. A marketing strategy is vital" it offers a blueprint for the way forward for a firm and a benchmark opposed to which to degree progress. This absolutely up to date version of the best-selling "How to arrange a marketing strategy" explains the complete procedure in daily phrases, protecting: * writing the plan; * generating cash-flow forecasts; * making plans the borrowing; * increasing the company. the writer introduces a number of small companies as case reviews, examining their company plans, tracking their development and discussing their difficulties. no matter if you're looking to start-up or extend, this sensible suggestion can assist you to organize a plan that's adapted to the necessities of your online business -- one who gets you the monetary backing wanted.
Read or Download How to Prepare a Business Plan: Business Enterprise Guide (''Sunday Times'' Business Enterprise) PDF
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Extra info for How to Prepare a Business Plan: Business Enterprise Guide (''Sunday Times'' Business Enterprise)
Battersby Month January to June Month Jan Month Feb Month Mar Receipts Budget Actual Budget Actual Budget Actual Cash sales 780 850 850 850 850 51 51 Cash from debtors Capital introduced Total receipts 950 (a) 1730 Payments Payments to creditors Cash purchases 51 51 51 Rent/Rates/Water 22 22 22 12 12 Insurance 300 Repairs/Renewals 12 Heat/Light/Power 15 Advertising 100 Printing/Stationery Transport/Motor expenses 30 5 5 30 130 Telephone 20 Professional fees (D Gray) Capital payments 50 50 420 420 641 776 875 Interest charges Drawings 420 Licences and sundries 150 Total payments Net cash flow (b) (a–b) Opening bank balance Closing bank balance NB.
You will remember that Alexander listed his start-up costs. The van and tools – together £875 – will be entered as ‘Capital items’ and the others as ‘Licences and Sundries’. (‘Working capital’ is not entered. ) On the first day of trading Alexander will withdraw the £950 from his building society account and pay it into his new business account at the bank. The amount will be entered as ‘Capital introduced’. The cash flow forecast will now look like Illustration 3, pages 40–48. Next, the sales figures must be tackled.
The same principles apply as listed on the first page of Chapter 1. On the following pages you will find examples of business plans appropriate when applying for a loan of a few hundred pounds. I will also go through the stages of filling out a bank’s cash flow forecast form. Example 1 My name is Alexander Battersby. I am a skilled joiner by trade and I wish to borrow £500 to set up in business on my own. The market for my services My uncle, George Battersby, who has been a self-employed joiner for 20 years, has decided to retire and will let me have his list of customers and contacts and sell me his tools.