Mind Mapping and Information Gathering For Successful Drafting Of a Business Plan

Information Gathering Prior To Drafting the Business Plan – The planning phase.

Business or hobby?

A question begging an honest answer is, “Is it a business you want to start or is it a hobby?” This is a vitally important question because these are two very different enterprises or entities. To start and run a business takes a lot of extensive, in depth analytical thinking, legal steps need to be taken, and a lot of planning and budgeting needs to be done. One can’t stress this enough.

Entrepreneurial skills

Entrepreneurial skills are naturally inbred in very few people. The Indians and Chinese seem to have it as a natural trait. Many people think that because they’re starting a trading business, that it should just succeed because they are buying at a low cost and selling at a higher price. So, therefore then, a profit should be shown and all should be in order. Not true in many cases, many hidden costs are not taken account of. Hidden costs exist such as telephone, petrol/transport, stall or rental, packaging, owner’s salary, and so forth.

Many times the business owner uses the money, which should be in reserve for purchasing more stock, for his personal use and then he wonders how all the money or profit has “disappeared”. Now he would need to raise more money somehow to purchase his next batch of stock and/or raw materials. Such a business owner is actually getting poorer each day and he is hardly aware of it.

If one approaches only one’s friends and family with a business idea, and none of them have the necessary knowledge to advise one, the rot will begin to set in. Wrong or ill-informed advice is not what you need.

Drafting a complete and accurate business plan is a very important step that anyone can take who wants to start any new business, or expand an existing business. The business plan covers all the important steps, decisions, reports and forecasts needed to assess the likelihood of success or failure in the new venture. At least one then has a foundation from which to work. It can always be used for reference purposes during the life of the business and it can easily be adjusted for future expansions or changes to the business process.

Planning the business, mind mapping and information gathering

If one approaches only one’s friends and family with a business idea, and none of them have the necessary knowledge to advise one, the rot will begin to set in. Wrong or ill-informed advice is not what you need.

The act of planning helps you to think things through thoroughly, study and research if you are not sure of the facts, and look at your ideas critically. It takes time now, but avoids costly, perhaps disastrous, mistakes later.

Bankers and financiers presume that one means business when one approaches them in this regard and they expect to receive honest and accurate information. There is no quick and easy way to deal with this; it’s their way or no way.

We all have skills, talents and learned abilities. These can be used to operate a business, which will generate an income. Extensive, in depth analytical thinking and planning is very important though because, without it one is destined to fail.

Discuss your business plan with people who can give you advice; Bankers, Dept. Trade and Industry, Business Partners Inc., other institutions who grant money for small business initiatives, an attorney, an accountant and various other people who have a wealth of experience in their fields of speciality.

When planning to start a business take the following steps:

  1. Speak to product specialists for their advice concerning your products and/or services.
  2. Speak to bankers, a lawyer, an accountant and a number of institutions offering grants or loans to small business initiatives.
  3. The above people will give you a blank Business Plan form, among other forms, to complete.
  4. The business plan is normally of great assistance in planning and budgeting for the business. And it is a good guide to all that needs to be done and decided upon.

Meet with whoever your partners will be, if any, and discuss the whole planned business process, including:

  • The type of business ownership best suited to your business
  • The products or services to be offered
  • The premises needed
  • The machinery and vehicles needed
  • Start up expenses need to be established and discussed
  • Capital requirements and directorship of the business
  • Decide on who will perform which functions in the running of the business.
  • Your target market
  • The environment of your area to be covered
  • The economy relating to that area, current demand, future growth, etc.
  • Determine what barriers exist at present which may hinder your success
  • Promotion of your products and/or services
  • Distribution channels
  • Operational plan i.r.o purchasing, production, sales, etc. needs discussing
  • Legal environment and requirements
  • Inventory and suppliers
  • Insurance and other professional advisory requirements like, lawyer, accountant.
  • Establish a system of record keeping
  • Bank services needed
  • Personnel requirements and Human Resource policies
  • Do the costing of each product very accurately.
  • Calculate selling prices based on all costs plus mark up
  • Draft the projected financial plan or budget for twelve months
  • Draft the projected cash flow for twelve months
  • Draft a starting balance sheet

This key information will then be used to draft a meaningful business plan. And the information is all inter related an in sync. In closing, the pre-planning phase takes time and effort but it is very necessary as a step to ensuring success.

Writing a Business Plan – The Only Guide You Will Ever Need

Do you want your business to succeed? Of course you do. Every business looking to succeed would be wise to take a little time to create a business plan. This important document will help you in any stage of business from start up to expansion to financing a new product or idea. Writing a business plan can help your business to increase its chances of success which is especially helpful during these difficult financial times.

Writing a business plan will be a lot of work. However, you will find that the process is not that difficult once you get started. One of the most difficult parts of writing a business plan is just getting started. Of course, having some tips and guidelines to follow can be especially useful. Here are some ideas to help you as you write your business plan.

What Do I Need To Include?

Your business plan needs to demonstrate that you know what you are doing and that you understand your business. Generally this knowledge and information is broken into distinct sections. This helps you to keep your business plan organized and easy to write. Lets look at each of the nine sections in a little more depth.

Executive Summary

Since your executive summary leads your business plan, it is important that you carefully construct this first section. In fact, the executive summary is so important that it is placed directly after the title page, even before the table of contents. Many find that writing this key section works best when completed last. The executive summary serves as a synopsis of all the sections of the business plan. If you wait until the end, you will be better able to write a cohesive and complete executive summary.

Within the executive summary, you will include your company mission statement. This mission statement should not be long, probably about four sentences in length, but should be carefully instructed. Many say that the mission statement is the most important part of the overall business plan.

Since your mission statement is only a few pages long, your executive summary will allow you to further expand upon key points mentioned in the mission statement. Consider including your business history, biographies of key players, an overview of the business including locations, employees and available products and services. You can also discuss goals and future plans. Use this section to really draw in the readers.

Many find that a bulleted format is ideal for this section. This section should be easy to read and scan so that potential investors can easily get an overview of your business. The biggest mistake that many make is including too much information. Make sure that your information only encompasses one or two pages.

Market Analysis

In the second section of your business plan, you will cover the analysis of your specific market. During this section you will showcase your business’ ability to succeed. Success is dependent upon accurate and complete market analysis. This section will show that you have done your research. Use this section to sell your business to potential investors. Show them how your business can succeed.

Thoroughly cover your business’ market. Talk about your industry and use specific details to support your statements. Details like industry size, growth rate and customer group will help you showcase your business. Include as many details as possible. Do not fill this section with generalized information. Make sure it is industry and business specific.

In this section you should also include the results of any market research studied that your company has completed. Also briefly discuss your competitors and their strengths and weaknesses. You may want to cover how your services will appeal to customers more than your competitors.

Detailed Description of the Company

After showcasing how your business can succeed in your specific market, it is time to illustrate a comprehensive picture of your business. Cover in detail your business including information regarding the type of business, the target market and how you can meet their needs and distinguishing factors that make your business unique.

Remember that each section in your business plan will overlap. This means that you may cover information more than once as you move from section to section. This is okay. Your business plan may be considered as a whole or may be viewed as individual sections. This means that each section must include all key information. Don’t neglect including important information simply because you feel it has been covered in other sections.

Organization Structure/Management

This section will detail specific information regarding your staff and executive positions. Cover how your company will divide work. Who will do what jobs? How does your business management structure work? Include biographies of key business personnel including owners, board of directors, management and other company executives. You should also discuss employee compensation and benefits.

In this section you will demonstrate your company’s ability to succeed through your management plan. Additionally you will help investors to realize your company’s potential as far as an employer is concerned. Investors know that good, long lasting employees can help your business to succeed. Therefore they are looking for strong and effective management as well as the ability to retain and inspire employees.

Marketing

How are you going to get the word out about your business? In this section, you will detail your plan. You can also discuss how your marketing strategy will lead to growth. Be complete and detailed in your plan.

Product and Service Offerings

This section may sound like a simple list of your available products or services. While this is one aspect, there is other information that needs to be included in this section. For each service detail the specific benefits of the products and services you offer. Discuss the advantages you have over your competitors with a specific focus on products and services. Also discuss how you can expand your product and services offering as time goes on.

Funding Request/Requirements

A business plan is often a tool used to help your business secure needed funding. If this is the case, make sure you include a funding request in your business plan. Be specific. Remember that potential investors need a thorough understanding of your requests so that they can make a decision about whether or not to approve your request. Be sure that you include the following information:

• What you need immediately in terms of funding
• Funding needs over the next several years
• How the money will be spent (be specific)
• Do you want loans, investors, partners, etc?
• How you plan to repay the loan

Financial Statement

This section is often carefully considered by potential investors. It helps investors to determine the financial solvency of your company. You will not just discuss your current financial state. In this section you will cover your financial past, your current state and your goals for the future. Include income statements over the last several years, balance sheets (both prior and projected), projections and available collateral.

It can be especially effective to include charts and graphs to better illustrate your financial plan. Including graphs and charts will help investors see the growth potential for your business and will make them more likely to approve your loan. Remember that the amount of funding desired must be in accordance with your financial projections. Investors want a return on their investment and will not invest more that they will get back.

Other Information

At this point you may feel that you have covered everything. However, there is probably other information that you want to include that couldn’t fit into one of the previous sections. This is the place where you will include it. You may want to list specific details in this section and then reference them in the other sections. This will keep your business plan from being cluttered with extensive details and information. Many business plans include items such as: credit reports, letters of recommendation, licensing and patent information, legal documentation, executive resumes and a list of business associates including your lawyer, accountant and business consultant.

Getting Started

You may be feeling overwhelmed at this point by the wealth of information you need to include in your business plan. Make sure you use an easy to read format. This means that you should definitely utilize headings, bullets and lists. Focus your writing to your audience. If the purpose of the business plan is getting a business loan, make sure your writing conveys this message.

How Long Should My Business Plan Be?

Try to keep your business plan between 20 and 40 pages. This may sound like an unachievable task. However, much of the finished length will be encompassed by formatting. Using bullet points, lists, charts and pictures will not only make your business plan more effective, they will help your business plan to be longer as well.

As you create your business plan, tailor your presentation to a busy professional. Assume that they will only spend 10-20 minutes perusing your plan. Make sure that you thoroughly sell your idea, needs and business during this brief time period. Further attract your audience using clear formatting, easy to read content, well thought out wording and correct spelling and grammar.

How to Write a Business Plan That Works

Key components in and organisation’s success will depend on a great degree on how well you;

  • can gather and interpret information
  • adapt to change
  • manage staff and resources
  • promote your business
  • look after customers and more.

This is where forward planning can help you.

A colleague once told me that ‘even a bad plan is better than no plan at all’. A bad plan at least shows that you have given some thought to the direction you want to go in.

A good plan takes time and effort, especially the first time you do one and many business owners or operators think they don’t have the time, or don’t see the value in it. But believe me… it is worth the time and effort!

It is an opportunity for you to build solid foundations for your business, based on known facts and these allow you to:

  • be very accurate in your plans and future projections.
  • avoid unforeseen pitfalls and crisis situations
  • spend your money and/or other resources in the most effective way
  • stay ahead of the market
  • make the most of every opportunity
  • be pro active and choose your own course rather than be reactive and follow everyone else
  • stop wasting time, effort and resources on inefficient processes and more

Good business planning involves:

  • looking at what you’ve done in the past few years
  • looking at where you are now
  • drawing conclusions from the above two points
  • based on that information determining your objective for the coming year/s
  • setting key strategies to help achieve the objective

Analysis of Past Performance

In this section of a business plan you look at the past year (or two) to take a good look at what worked and what didn’t. Where you came from is every bit as important as where you are going. You need to look at:

  • What promotional activities did you run- for example did you have any discount deals, special offers etc?
  • What worked? What didn’t?
  • Why did the activities work so well, not so well – find the reasons
  • Advertising campaigns
  • (again) What worked? What didn’t?
  • Why did the campaigns work so well, not so well – find the reasons
  • What mediums did you use? (ie Newspapers, magazines, radio. List the actual companies you used as you may have used a number of different ones.)
  • How much did you spend on them?
  • Which ones generated enquiries and which ones didn’t?
  • Did you keep track of the enquiries, if so, what were the results?

Keeping statistics on where enquiries come from can help you to use your advertising budget in the most effective way. There’s no point in spending a lot of money on advertising on television, for example, if most of your enquiries come from newspaper ads or word of mouth. Asking customers where they heard about you and keeping a record is the best way of determining advertising effectiveness.

  • Were there any noticeable or unusual increases or decreases in your business? If so, why did they happen?
  • Were the increases/decreases at any particular time of the year, or did they affect any particular product or service. If so why? Do a detailed analysis of product and service sales. How many of each individual product or service did you sell? Break these figures up by month (as shown in the graph above) as this will, again, show up regular high and low periods which will then allow you to forward plan. For example in high sales periods you know that you will have to order more stock and put on more staff whereas in low demand periods you order less. You can plan for these peaks and troughs in advance… because you have statistically shown that they are coming. An example of a detailed sales analysis is shown on page 15.
  • Did your competitors do anything that impacted on your business? If so, what was it?
  • How did it affect you?
  • Are they likely to do it again?
  • What did you (or could you) do about it?
  • Budgets - income and expenses. This is extremely important and we will look at this in detail later in the document. Over the years these statistics will build an extremely accurate picture of your expenditure habits and sales that will show trends. With this information you can anticipate what is going to happen and proactively avoid any pitfalls or take advantage of upcoming opportunities. You can forecast – with a fairly high degree of accuracy – how much you will earn and spend in the coming year. While you might have an accountant to look after the “book keeping” for you, it is essential that you know exactly where your money is being spent and what your income is made up of.

The answers to these and any other questions relevant to your particular industry and business will give you a solid base upon which to build your plans for the future. Knowing how you got to where you are now can show you where you went right… and where you went wrong and gives a clear

Conclusions

Looking at the above information – what conclusions can you draw? For example:

  • What will you do again next year and why?
  • What won’t you do again next year and why?
  • What will you do differently and why?
  • Were there any lessons to be learned?
  • What were they?
  • Did you spend money on areas that were unsuccessful / unsuccessful?
  • How much?
  • Was this money well spent? Why / why not?
  • Which products sold well / not well?
  • Will you expand your product line?
  • Are there any products you should discontinue?

Overview of Current Situation

It is very important to have a firm grasp of your current business environment. This is where you look at what is happening around you right now. Things that are happening that could potentially have an impact on your business. This will:

  • give you a clear idea of any issues that might get in the way of your plans in the foreseeable future
  • give you the opportunity and the time to take proactive action on any of these issues. This is much better than having to “react” to a change or problem that you didn’t anticipate.

It’s like having a high powered torch in a tunnel as opposed to a match!

A good overview of your current situation will involve looking at:

  • the business environment in which you are operating
  • your strong and weak points
  • what your competitors are doing.

Business Environment Analysis

What exactly does “business environment” mean?

At its widest view point it can mean the sum total of a number of external and internal factors that affect you and the organisation you work for.

External factors could include such things as:

  • Political issues. The stability of the Government can have a dramatic affect on the country’s or state’s economy.
  • Legislative issues. New legislation can have an impact on your particular industry.
  • Economic Trends. Are people spending money? What are they spending it on and so forth.
  • Social Trends. What’s in.. what’s not? Safety & security issues as well as environmental protection issues etc are considered here.
  • Competitors. What is your competition doing and how does that affect your business?
  • Technology. This is an area that is constantly changing and can have quite an impact on the way business is done.

Also known as a PLESCT Analysis this is a thorough look at the world around you and the influences various issues may have upon your customers, suppliers and therefore your business. Doing this type of research means that you should not be caught unawares by new legislation, trends, changes or advancements. PLESCT stands for: Political, Legislative, Economic, Social, Competitor and Technology and looks at each of these sectors and how they may affect you positively – or negatively .

Doing a PLESCT Analysis

Some of the issues to consider when doing this analysis can include such things as:

Political issues. Here you should look at the general political stability of the country or state.

  • Is there an election due? People get nervous around election times and are cautious about spending / investing their money
  • Has there just been an election? In which case is the new government likely to make changes to the status quo – and if so, how will this affect you?
  • International economic and social environment – how stable is the situation?

and so on….

For example changes in government often have an impact on businesses dealing with health, education and employment as existing programs are often changed or discontinued after an election, or new programs are introduced. International economic crises often have a big impact on our own market as does the increasing threat of terrorism or conflict situations.

Legislative issues

  • Have any new legislations been passed / or amended that affect your industry?
  • If so, what will you have to do to comply with them? How will these changes affect:
  • staff?
  • resources?
  • policies and procedures?
  • costs?
  • Do you need to obtain any licenses or permits?

For example all staff working in the childcare industry, or dealing with under 18’s, must have a Blue Card, while industries dealing with tobacco or alcohol have very strict licensing laws.

Economic issues and trends

  • What is the current economic climate?
  • Does the current international climate have an effect on us?
  • Are people spending more / less money?
  • What are they spending it on?
  • Are they likely to spend it on your product or service?

For example, the cost of living is currently rising faster than wages – things such as petrol prices and interest rates are increasing rapidly and people are thinking twice about spending their hard earned money.

Social issues and trends

  • People will often be influenced in their purchase decisions by “what’s IN”, or may wish to keep pace with friends
  • Environmental issues such as water saving, conserving energy and so on can have an impact on people’s purchasing decisions and so need to be considered
  • Cultural issues also need to be considered – people from different countries and backgrounds have views and customs that may dictate how they make their purchasing decisions.

Competitor information – This is a very important part of your business environment analysis – you need to know as much as you can about your competitors. Questions you need to ask are:

  • Who are they?
  • Where are they located?
  • How big are they (compared to you)?
  • Do they have any affiliations?
  • What are their promotional activities?
  • How do they advertise?
  • What do they advertise?
  • How does their product range compare to yours?
  • How do their prices compare to yours?
  • How does their service compare to yours?
  • What impact do they have on your business?

The answers to these questions will give you an overview of how you compare to them and what you can do to improve, and therefore win extra business.

If practical, a product/price comparison grid is an excellent way of keeping an eye on how you are faring against them.

It’s also a good idea to also do a SWOT Analysis on your main competitors (next section) – you need to be able to:

  • counter their strengths
  • take advantage of their weaknesses
  • take advantage of the same opportunities and
  • maximise their threats.

Technology -

  • Is there any new technology available that will have an impact on the way you do business?
  • Is it viable for you to adopt this new technology from a cost point of view?
  • Can you afford not to adopt this new technology from an efficiency point of view?
  • What impact does the internet and electronic means of communication have on your business?

Internal influences also need to be taken into considerations and could include:

  • The overall economic state of your business. Is it doing well or not?
  • Change of ownership or management of the business. This could have a big affect on the internal workings of the company and the company morale.
  • Change of direction for the business. Are you offering new services or products?
  • Updating or upgrading of the business. New premises, new equipment etc.
  • Down or Upsizing. Are you laying off staff or hiring more?

Looking at the PLESCT Analysis and your internal influences in detail will give you a firm understanding of what is going on around you, and will help you:

  • avoid unpleasant surprises that could be costly and damaging to your business
  • stay a step ahead of your competitors
  • help you take advantage of new opportunities quickly
  • minimise the impact of negative trends…..

SWOT Analysis

A SWOT analysis allows you to have a deep down, honest look at your organisation in terms of its strengths, weaknesses, opportunities and threats and to look at ways to make you stronger.

Strengths

What are your organisations strong points? For example:

  • Do you have a great location?
  • Is it easily accessible?
  • Is it a long established company?
  • Does it have an excellent reputation?
  • Does if offer anything unique?
  • Do you have a lot of repeat business?
  • Are your prices the best?
  • Are you a market leader?

and so on.

Weaknesses

What are your organisations weaknesses? For example:

  • Is it a newly established business and not yet well known
  • Is the infrastructure in the surrounding area poor making it difficult for customers to get to you?
  • Are there any problems with suppliers or staff?

and so on. A point to remember is that not all weaknesses are negative and could be viewed as opportunities for improvement.

Opportunities

What opportunities are there that you could take advantage of? For example:

  • New legislation opening new markets to you
  • New housing or business developments bringing new customers into your area
  • New technology that will make your production or processes more efficient
  • Introduction of new product or service lines that will increase revenue

and so on.

Threats

What things could stop you from achieving your goals? For example:

  • A new competitor in the marketplace
  • A change in legislation that will mean major changes to your business practices.
  • Re-zoning of your area or roadways changing and taking customers away from their current routes (where you are located)

and so on.

Conclusion:

When looking at your SWOT Analysis what areas need to be addressed?

  • Strengths – what can you do to capitalise or maximise on them?
  • Weaknesses – what can you do to minimise or negate their impact. Which of them can be turned around to become a strength?
  • Opportunities – what do you need to do to take advantage of these opportunities? How can you ensure you get your slice of this opportunity?
  • Threats – what can you do to avoid or minimise the impact of the threat?

The answers to these questions will form part of your business plan.

Objective for Next Year

Having looked at your past analysis and current business situation you should now have a solid grasp of your business and where it needs to go to remain successful. Your endeavours to date will now give you a clear direction – or objectives – to aim for in the next one to three years.

One overall objective will have a number of Key Strategies – each of which will, in turn, have a set of tactics designed to help achieve each strategy and therefore the ultimate goal.

  • Your objective is WHERE you want to be in a given period of time (ideally 1 – 3 years0
  • Your Key Strategies are WHAT you need to do to achieve the objective and
  • Your Tactics are HOW you are going to go about actually making it work

Key Strategies

The objective, as stated, is where you want to be. The key strategies are the issues you need to address in order to achieve the objective; WHAT needs to happen. For example if your objective is to increase your revenue by 10% over the previous year, then typical key strategies could be:

  1. Introduce a new product range to fill an identified market need
  2. Decrease expenditure by 15%
  3. Increase your customer base by 10%

All of which would work towards achieving the overall objective.

Obviously strategies will be determined by your own business and industry needs, so think about the things you need to do to achieve your goal.

Tactics

Each strategy will have a series of tactics (or steps) that need to be taken to make that strategy work. As mentioned, these will outline HOW you will go about each strategy. For example.

Key Stratey 2: Decrease expenditure by 15%

2.1 – Review all current suppliers to ensure we are getting the best product for the best price

  • 2.1.1 Offer tender opportunitities to new suppliers
  • 2.1.2 Research new suppliers via web, phone calls etc
  • 2.1.3 Review all suppliers on an annual basis.

2.2 – Introduce new procedures regarding unnecessary printing of emails and other documents to decrease amount of paper being used

2.3 – Re-use single sided documents as scrap paper / memo pads to save paper

2.4 – All electrical equipment and lights to be turned off when not in use

2.5 – Review discounting policy and determine if this could be replaced in a more cost effective manner

2.6 – Review consumable usages

and so on.

Once again, the tactics will depend entirely on what strategies you need to fulfil and should be as detailed as possible. These tactics will form part of your action plan. If there is a cost involved, or extra resources, then detail them here.

Sales Forecast for Next Year

Forecasting is neither as scary nor as complicated as it sounds – if you keep accurate sales records!

Sales forecasting means making an “educated” guess on how much revenue you will earn in the coming year and for this reason accurate records are essential and indispensable. You need to know where your sales came from – by product or service and even by month or week of sale. This may seem overkill but eventually this data will give you a complete and detailed picture of exactly how your business is performing. For example spikes (up or down) in sales figures don’t happen for no reason – detailed statistics can show up these spikes which might be due to such things as:

  • Promotional or advertising campaigns
  • New trends
  • New products
  • Competitor initiatives
  • Seasonal fluctuations
  • Economic climates and so on….

For example – the Tourism Industry is very much affected by high and low seasons. They usually know well in advance when demand will increase or decrease. Travelling to Europe in their winter is low season and demand is not as high as going in their spring or summer time. Knowing this tourism operators can plan for these periods by developing specific products designed to increase sales and take advantage of increased demand in high season. They can also accurately forecast revenue because they have a solid knowledge of who their customers are and when they travel on a month by month basis.

The same may well apply to your own industry.

A review of past years sales statistics can give you an excellent idea of how your sales happen on a month by month basis. You can read the trends like a story – allowing you to estimate with a large degree of accuracy what sales you can expect to make and know how much you will need to spend in the next year.

But what good does all this do you in forecasting? When you have collected this data for a number of years you can start to build up a picture of:

  • peaks and troughs in your sales
  • popular and less popular products,
  • popular times of the year
  • effects of advertising and/or promotional campaigns and so on

Sales figures rarely drop (or increase) for no good reason.. the trick is to be aware of what is going on around you so that you know why increases or decreases happen. This is where your PLESCT and SWOT prove valuable.

Armed with all this accurate and well researched information you should be able to make a reasonably accurate prediction on how many of each product you will sell in the coming year.

Action Plan

Points for your action plan will come from the tactics. By putting them into an actual action plan, detailing what needs to be done, by whom and by when, you can ensure that each task (or tactic) is done on time and will therefore take you that step closer to reaching your objective.

That, ladies and gentlemen, is basically it!

By following these logical steps you can:

  • gain a greater awareness of the environment in which you operate
  • avoid major pitfalls that may come your way
  • realise your strengths
  • overcome weak points
  • take advantage of opportunities that are presented to you and much more

Templates for building a better business plan can be found on www.lptraining.com.au