Business Nanny - tips for putting a business plan together

Ohhhhh Nooo...! Do I really have to write a Business Plan? Yesss, you do!

You’ve got to prove your business is feasible...

Investors need Detailed P lans that show they’re not handing their £££ over to TOTAL LO SERS!

Mais, pourquoi?

Aw Phooey!

Finding the r ight too ls & appr oach f or you How ’s your brain wired ~ what are you (mostly) l ike?

1. Like formal structures

2. Logic

3. Sequential thought processes

4. Verbalise

5. Thoughts

6. Focus on Data

7. Analysis

8. Act after assessing risk

9. Working at practical level

A. Like random/relaxed structures

B. Creativity

C. Non- l inear thought processes

D. Visualise

E. Emotions

F. Focus on Bigger Picture

G. Imagination

H. Go with gut instinct

I. Working at intuit ive level

Mostly 1-9 >> you’re a LEF T BRAI ER FREAKS ! You can calculate marg ins and sales

prices in your head. Writ ing a Plan wi l l be

a doddle and you ’l l ratt le off facts, f igures,

forecasts & balanced scorecards l ike a pro .

If th is is you, take a look at www.smarta.com

or SIMON STURMAN ’s superb business too lk i t

at www.s implyaccountsandtax .co .uk

Mostly A-I >> you’re a RIGH T BRAI ER Examples are art ists, musicians, wr i ters ,

designers, ch i ropractors , massage therapists ,

ref lexo log ists, or yoga instructors, etc.

Get JENNIFER LEE ’s r ight brain templates &

spreadsheets at www.r ightbrainbus inessplan.com ~

and try her guided meditat ion to visual ise what

success for you (or your bus iness) looks l ike .

(1) Cunning plans need cunning strategy

What “unique” human need does it meet?

Your Product or Service 1) Who will pay for my product or service?

2) Who has already bought from me?

3) Am I realistic about my market size or reach?

4) Am I too close to the subject?

5) What do my business & social networks think?

6) What’s my revenue model?

7) How & where will I sell my product/service?

8) What can I learn from how my competitors started?

9) How will I find and talk to my customers?

10) Can I grow in this marketplace?

Is your offering UNIQUE or are there similar businesses out there? If you ’re not unique, start your think ing again!

(2) Now, write your P lan ~ is it Fat or Lean? FAT plans describe each subject in depth,

with graphs, diagrams, research...

LEAN plans are mostly images, less text & more bullet points, only going into detail if the topic is revolutionary or complex.

>> Right-Brainers might benefit from making a mood board

WHICH ONE? Depends on whether the Plan is just for you, or if it’s mostly for investors,

or if it becomes your Ops Bible for your team and they need to know everything...

(3) Track your progress and stay on course!

Monthly projections for at least six months ~ though 12 months would be Favourite...

2013

Set “milestones” or outcomes you want to achieve by certain dates ~

check your progress against your Objectives and projections.

Track budgets, measure performance, revise costs and sales predictions – include enough detail to give a full “Plan-vs-Actual” analysis. >> Right-Brainers, aka why you didn’t hit your targets!

(4) Layout, style, readability ~ and puff

“ The Elevator Pitch” is so last century... NOW try to explain your unique offering in F OUR words

Support

Assist Assistance

Virtual Training

Delegate

Overflow

Outsource Overflow Consultancy

Advice

Project Management

Safe Hands

Concierge

Book-keeping

Assistant

Partner

Ad hoc

Flexible

Skills gap

Onsite

Offsite

Virtual Assistant

PA/Sec

Free up your time

No. 2

Your right hand

Business Nanny 1) TAKING 2) CARE 3) OF 4) BUSINESS

Holiday cover Upskiller

Resource

Experience

Focus Travel arrangements Admin

Gatekeeper

Callminder

Girl Friday

Cost effective

(5) Keep in shape and up-to-date You don’t stay in shape by skipping the Gym for six months & then hitting a bootcamp!

>> So Biz Planning is also a continuous process:

• Fight the Flab / keep an eye on new trends

• Watch out for new market entrants

• Review & revise your Plan regularly

• Make your plan a Business MAP

© Giles

Hard ly ever!

Absolutely always !

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