A Good Business Plan

Dr Moira
 Some Indicators…
The Business Plan provides:
• Picture of short to medium term objectives
• Projected forecasts
• How you intend to implement it
• It should be kept under review and updated re
changing circumstances
• It is a key tool for planning and achieving
positive outcomes using your business model.
 It must do more…
• It provides details on key aspects of your intended
operations:
• Governance
• Your particular service
• Identify your market
• Market research (customers/users/geographical
area/data analysis/need)
• Indicate creating a surplus & achieving sustainability
• social impact-how it contributes to positive and
measurable change for people
 Governance again…
• What are your procedures and control
systems; do you review them often?
• How can you show that your organisation is fit
to manage in the cut and thrust business
world?
• Against security threats?
• Against physical & environmental threats?
• Can you address audit issues?
 Basic Matters…

PREPARATION.
Put yourself in the shoes of the buyer. What will they want?
Initial valuation expectations?
Are your financials in order? Are your projections believable?
Is your data/information such to answer buyer questions?

RESEARCH.
Identify you market-who are they?
Who are the decision influencers?
Where do you stand relative to competitors? Identify their processes
 Compulsory Items
CONTACTS
Who must you contact?
HMRC
ICO
FCA
Insurance provider
Local council
Utility providers
Do they have processes, rules you have to adhere
to?
 Don’t Forget…

The Ethical Statement

A Global Statement
 Vital Contractual Clauses
• Parties to contract
• Definitions
• Obligation of seller and buyer
• Termination clauses
• Fees and payment
• Confidentiality
• Intellectual Property
• Restrictive covenants
• Non-solicitation
• Disclaimers
 Choice of Business Model
• Sole Trader

• Partnership

• Company

• Limited Company