- Last Updated on 28 January 2015
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Business Plans are important for Startups and Developing SMEs
Effective business plans follow an expected format and flow. That doesn’t mean that they are all the same. They’re not. At The Synergy Group we strive to develop plans that have that extra something (A Competitive Edge) to set your business apart from the rest and help you achieve your objectives. You need a Sustainable Competitive Advantage. You have to answer some basic questions and how you do it is up to you. We will give you guidance and some suggested formats.
The layouts we have developed take care of all the essentials for you, but still offer you the flexibility to put your own special imprint on the business plan.
The Synergy Group Business Plans handle not only the organisation, formatting, and flow, but also the wording, tables, and essential topics that a quality plan needs.
There are templates on the web, but you still have many unanswered questions. You need help, not just an outline of the way it should be. We will not prepare the business plan for you but we will go through everything step-by-step with you. We create the business plan with you so that you have ownership of the plan and create the incentive for you to turn it into a reality. We have found that this method of involvement produces motivation as you believe in it and understand it, also, if something goes wrong throughout the year, you will have a better understanding of how to correct it. As the year progresses, we offer full support via meetings, e-mail and telephone whichever suits you.
- We have developed business plan templates that cover all the essential topics but still give you the flexibility to prepare your business plan your way. We also tailor make business plans to suit each individual and business. We delete and add in all the sections that are necessary for your business. That is why it is produced with you and not for you.
- We also believe in a one-on-one approach. We will take you through the business plan as you produce it to ensure all areas of confusion are ironed out, this can be via phone, e-mail or meetings. Your business plan can project up to five years into the future depending on your needs.
- All the questions you should have asked but didn`t think of while you were with us, no problem just come back to us. We have yet to have an unhappy customer with the final result as they are involved every step of the way.
A well-structured business plan is essential in developing and managing your business. It is also of significant assistance as part of an application for funding, as it illustrates to the potential lender that you have done your homework.
As a dynamic operating tool, it can be further developed to form more detailed budgets, sales plans, and profit and cash flow forecasts.
From experience, we have discovered that it is most beneficial to you if we produce the plan WITH YOU not for you. It will take more time, but the benefits to you are enormous. You will see the reason for budgets, where they fit in to your business, you will learn more about business & management. It will allow for improved objective setting and strategy formulation.
In essence, it is a training course specially created for you on a one-to-one basis with the business plan as the result.
We have clients who said ‘I know all about my business, it’s in my head, I don’t need a business plan’. As we go through the exercise, they then realise that they need to look at it from a different direction, be more professional in the management & business, see that when it is in their head that it is there in a muddled fashion, that in order to make sense of it, it needs to be clearer and more focused.
Detailed Budgets for established businesses.
All businesses, from the largest to the smallest, need financial guidelines. Over a cup of coffee (or numerous cups), we will delve into your past records, explore the depths of your mind and see what you want to do in the future. Then we will produce a full and detailed set of budgets (annually, quarterly and monthly) including profit & loss accounts, balance sheets and cash flow forecasts. We will produce a set of analysis forecasts, e.g. sales & product, purchases and stock, fixed assets, debtors & creditors, funding, accruals & prepayments and VAT. We will also produce a ratio analysis and overall performance summary. If you are in manufacturing, we will produce a labour summary, materials summary and production schedule.
Possibly one of the most powerful aspects of this product is the ability to produce “What If Scenarios”. The popular word today is "Stress Testing". We can produce an infinite number of these, dependent upon the extent of the business environment you are operating in and your imagination, your track record, past history, what you want to achieve, etc. We can forecast problems in the future, problems that you would never see. For example,
- What if your sales do not materialise or are higher than expected.
- What about over trading - if I sell more than I can afford to buy.
- Will I be insolvent if I change from the plan?
- What happens if you do not get paid as quickly as you planned?
- What do you do in your manufacturing when you have peaks & valleys, will you need more direct labour, where will you get them, can you afford them, have you the cash to buy the extra materials, have you the space to accommodate them, etc.
- Is it better to pay for your new equipment by cheque, cash from the slush fund, some form of leasing arrangement & if so with whom, short or long term loan, etc. Or, is it better to find a new investor.
What The Synergy Group can do for you:
- Help prepare the Business Plan with you.
- Review your past performance and plan for the future.
- Review your accounts, prepare ratio analysis and plan forward.
- Facilitate meetings with your staff to plan the future.
- Prepare Budgets and Projections with you or your team for the future.
- Prepare you for meetings with banks and investors.
- Review your achievements every month Vs the plan and readjust the plan.
- Stress test your plans.
- Help you to prepare your goals, objectives, strategies and tactics.
- Create the environment for you and your team to copy the 'big boys' successes.
- Plan for the unexpected.
- Generally prepare you for the future by looking into your very own Crystal Ball
Contact The Synergy Group and we will examine your Business Planning requirements. We will look at what you need to do, what you want to do and we will pull together a plan with you.
T: +353 1 8215189
F: +353 1 8215191
M: +353 87 2326927