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Promoting




For Growing
Businesses
The 4 x 4 Plan
     The Best Business Life By Far




                         Each Month
•   Get 4 hours personal development
•   Spend 4 hours set & review SMART objectives
•   Gift 4 hours mentoring another business
•   Buy 4 hours insourced skill locally


    The 4 x 4 plan will lead to a better organised more focused,
     better networked, more profitable business with a more
                         fulfilled business life.
            Try it for 4 months and see the difference.
Planning For
Top 6 Excuses For not having a written plan
1.   I do not need outside funding – why bother
2.   I know what’s wrong – I’m just not selling enough
3.   It will be wrong anyway
4.   I have it all in my head
5.   I always deal with challenges as they arise really well
6.   A business plan won’t help me after start-up



            Top 10 Reasons For Business Failure

1. The maths just does not add up
    Demand at the price does not add up to a (enough) profit
2. The owner gets in the way
    Stubborn, risk averse, conflict averse, perfectionist, greedy,
      self-righteous, paranoid, indignant, insecure……
3. Out of control growth
    Added; products; markets; team members; borrowing. less can
      be more
4. Poor accounting (you do not know what’s going on)
    Flying blind always results in a crash - get accounting visibility
5. Lack of cash cushion
    Stuff happens, pay, borrow, or go bust?
6. Operational mediocrity
    Referral business is vital to success, who will refer mediocrity?
7. Operational Inefficiency
    Over-priced labour, rent, materials, as economy tightens and
      competition gains
8. Dysfunctional Management
    Lack of vision, focus, planning, standards. Add pressure and
      arguments
9. Succession Plan
    Nepotism and favouritism, replace effective performers with
      incompetents
10.Declining Market
    Failing to keep in-touch with what customers want to buy.
      Change the offer

     The Biggest and most Successful businesses
      plan every year. Do they just like admin?
Top 7 Uses For a Business Plan
1. Money
    Bankers, VC’s, Angels , all lenders need to understand your
      chances of success
2. Goal setting
    The map for your vision sets milestone targets
3. Daily Operations
    Policies, operating procedures, quantified daily tasks that add
      up to a profit
4. Foresee Issues
    Test the feasibility of your idea, know it will work, measure
      results against plan
5. Customer centric
    Research your customers, understand them thoroughly, supply
      a need
6. Value creation
    Paying your bills and yourself is a start point, know how to
      create value
7. Leadership
    Staff, advisors, mentors, all need to understand your vision,
      your route map and your current position. Sat-Nav for your
      business


    Advanced Marketing for Maximum Profits
Your Business Plan
                     The Essentials
1. Idea
    What will the business do?
2. Market
    Who will your customers be? What competition is there?
3. Operations
    How will you deliver the idea? Promote it? Provide great
      service?
4. Financials
    Can you earn more than you spend? How much cash do you
      need before you generate enough cash internally?
5. Supporters
    Do you have specialist advisors in each area? Can you partner?
      Team?
6. Review and Revise
    Build in measurement, reporting and milestone review



                        Setting it Out
1. Title and Scope
    Name of Company, Period covered
2. Contents
    Executive Summary (something to hand to the bank)
          o Idea, Market, Operations, Financials, Supporters

   Idea
       o ‘Elevator Pitch’ why anyone will buy from you - said in one
         minute or less

   Market
      o Customers who? How many? Their profile? Data to back
         up your guess
      o Competition Who? How are you different? Strengths &
         weaknesses?

   Operations
      o CEO who? Why best qualified?
      o Sourcing where you get it and how it is made (applies to
         services)
 Marketing
    o How will you promote your offer to your customers? Your
       plan…..
            Press,
                 how      many    press    releases?  Which
                  publications?
            Online
                 will you have a website? Blog? Who will you
                  link with?
            Social Media
                 which? How will you use it?
            Partners
                 Who will you tie up with selling to same
                  audience?
    o You know who the customers are. Show how will you talk
       to them

 Sales
    o How will you identify prospects?
    o How will you follow up prospects?
    o How will you recycle rejections?
    o How will you close sales?
    o How will you handle up-sell?
    o How will you manage customers?

 Fulfilment
     o How will you capture orders?
            When / how will you get paid?
     o How will you deliver?
     o How will you handle enquiries and failures?


 Infrastructure
      o Which IT systems will you use?
            How will you support them?
      o What staff will you need?
            Engagement, training, evaluation?
      o What advisory board will you have?
            How will that work?
      o What reporting will you have?
            How will you review? Re-plan? Manage change?
 Financials
     o Effort to generate orders
           Convert effort to cost
     o Orders generated?
           Convert orders to £revenue
     o Cost of sales
           Match sales with the £costs to supply
     o Overheads
           Match staff deployed with cost of employment
           List all outgoings and costs including rent, utilities,
              professional services and taxes
     o Convert the profit and loss to cash flow

     o Produce a balance sheet

     o Set Assumptions, inflation, prices & changes
 Key Objectives
           o Sales growth target
           o Make price increase stick
           o New product development
           o Key marketing achievement (new brochure / website)
           o Recruit partners
           o Set up new system
           o Win investment

   Specific, Measurable, Achievable, Relevant, Time specific
                           (SMART)




            Using Your Plan To Raise Finance?

   AVOID GIVING A PERSONAL GUARANTEE
EVER! – THERE WILL ALWAYS BE ANOTHER WAY




      StartUp Suffolk is a not for profit organisation sponsored by New Media Business Group

            Enquiries: New Media Business Academy Limited, a not for profit company

     The Enterprise Centre PO Box 656, Woolpit, Bury St Edmunds IP30 9WR Tel 0203 086 9386

                                  Tim@NewMedia-Group.com

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Planning for Success seminar notes

  • 2. The 4 x 4 Plan The Best Business Life By Far Each Month • Get 4 hours personal development • Spend 4 hours set & review SMART objectives • Gift 4 hours mentoring another business • Buy 4 hours insourced skill locally The 4 x 4 plan will lead to a better organised more focused, better networked, more profitable business with a more fulfilled business life. Try it for 4 months and see the difference.
  • 4. Top 6 Excuses For not having a written plan 1. I do not need outside funding – why bother 2. I know what’s wrong – I’m just not selling enough 3. It will be wrong anyway 4. I have it all in my head 5. I always deal with challenges as they arise really well 6. A business plan won’t help me after start-up Top 10 Reasons For Business Failure 1. The maths just does not add up  Demand at the price does not add up to a (enough) profit 2. The owner gets in the way  Stubborn, risk averse, conflict averse, perfectionist, greedy, self-righteous, paranoid, indignant, insecure…… 3. Out of control growth  Added; products; markets; team members; borrowing. less can be more 4. Poor accounting (you do not know what’s going on)  Flying blind always results in a crash - get accounting visibility 5. Lack of cash cushion  Stuff happens, pay, borrow, or go bust? 6. Operational mediocrity  Referral business is vital to success, who will refer mediocrity? 7. Operational Inefficiency  Over-priced labour, rent, materials, as economy tightens and competition gains 8. Dysfunctional Management  Lack of vision, focus, planning, standards. Add pressure and arguments 9. Succession Plan  Nepotism and favouritism, replace effective performers with incompetents 10.Declining Market  Failing to keep in-touch with what customers want to buy. Change the offer The Biggest and most Successful businesses plan every year. Do they just like admin?
  • 5. Top 7 Uses For a Business Plan 1. Money  Bankers, VC’s, Angels , all lenders need to understand your chances of success 2. Goal setting  The map for your vision sets milestone targets 3. Daily Operations  Policies, operating procedures, quantified daily tasks that add up to a profit 4. Foresee Issues  Test the feasibility of your idea, know it will work, measure results against plan 5. Customer centric  Research your customers, understand them thoroughly, supply a need 6. Value creation  Paying your bills and yourself is a start point, know how to create value 7. Leadership  Staff, advisors, mentors, all need to understand your vision, your route map and your current position. Sat-Nav for your business Advanced Marketing for Maximum Profits
  • 6. Your Business Plan The Essentials 1. Idea  What will the business do? 2. Market  Who will your customers be? What competition is there? 3. Operations  How will you deliver the idea? Promote it? Provide great service? 4. Financials  Can you earn more than you spend? How much cash do you need before you generate enough cash internally? 5. Supporters  Do you have specialist advisors in each area? Can you partner? Team? 6. Review and Revise  Build in measurement, reporting and milestone review Setting it Out 1. Title and Scope  Name of Company, Period covered 2. Contents  Executive Summary (something to hand to the bank) o Idea, Market, Operations, Financials, Supporters  Idea o ‘Elevator Pitch’ why anyone will buy from you - said in one minute or less  Market o Customers who? How many? Their profile? Data to back up your guess o Competition Who? How are you different? Strengths & weaknesses?  Operations o CEO who? Why best qualified? o Sourcing where you get it and how it is made (applies to services)
  • 7.  Marketing o How will you promote your offer to your customers? Your plan…..  Press,  how many press releases? Which publications?  Online  will you have a website? Blog? Who will you link with?  Social Media  which? How will you use it?  Partners  Who will you tie up with selling to same audience? o You know who the customers are. Show how will you talk to them  Sales o How will you identify prospects? o How will you follow up prospects? o How will you recycle rejections? o How will you close sales? o How will you handle up-sell? o How will you manage customers?  Fulfilment o How will you capture orders?  When / how will you get paid? o How will you deliver? o How will you handle enquiries and failures?  Infrastructure o Which IT systems will you use?  How will you support them? o What staff will you need?  Engagement, training, evaluation? o What advisory board will you have?  How will that work? o What reporting will you have?  How will you review? Re-plan? Manage change?
  • 8.  Financials o Effort to generate orders  Convert effort to cost o Orders generated?  Convert orders to £revenue o Cost of sales  Match sales with the £costs to supply o Overheads  Match staff deployed with cost of employment  List all outgoings and costs including rent, utilities, professional services and taxes o Convert the profit and loss to cash flow o Produce a balance sheet o Set Assumptions, inflation, prices & changes
  • 9.  Key Objectives o Sales growth target o Make price increase stick o New product development o Key marketing achievement (new brochure / website) o Recruit partners o Set up new system o Win investment Specific, Measurable, Achievable, Relevant, Time specific (SMART) Using Your Plan To Raise Finance? AVOID GIVING A PERSONAL GUARANTEE EVER! – THERE WILL ALWAYS BE ANOTHER WAY StartUp Suffolk is a not for profit organisation sponsored by New Media Business Group Enquiries: New Media Business Academy Limited, a not for profit company The Enterprise Centre PO Box 656, Woolpit, Bury St Edmunds IP30 9WR Tel 0203 086 9386 Tim@NewMedia-Group.com