2. 2 hours for each session
10 minutes tea time
Bathroom & Kitchen
Today’s Speaker
Please network each other
Future Plan
- Business Forum
- Networking Events
- Business Mentoring
Copyright 2014 Quantum Business House
3. 1. Setting up business structure (June 04)
2. Buying a business (June 11)
3. Business Planning (June 18)
4. Marketing (June 25)
5. Raising Finance (July 02)
6. Financial Management (July 09)
7. Tax system and compliance issues (July 16)
8. Risk management (July 23)
9. Financial Health Check (July 30)
10. Business Evaluation (August 06)
Copyright 2014 Quantum Business House
5. Identify your business objectives and goals –
blueprint or roadmap
Outline your strategy to achieving the goals
Summary of business evaluation and concept
More control over your business
Raising finance purpose – lenders will not
lend money without business plan
Management decision for what to do & what
NOT to do
Copyright 2014 Quantum Business House
6. Alignments of individual visions with the
business objective – where we are going and
how – So get as many opinions as possible
from members of business (shared vision and
goal setting).
Regular strategic planning to challenge the
basic assumptions, identify new risks and
change the key success factors.
Resource allocation based on priority and
importance
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House
7. The frequency depends on the nature of your
external environment and the maturity of
your business – dynamic environment? More
frequent plan and update.
A comprehensive and detailed business
planning when starting the business.
Launching of a new product or service
Implementation review – check if you are
going the direction you planned – Quarterly
basis.
Copyright 2014 Quantum Business House
8. Clear: readers should be able to get the
points easily in which they are interested.
Concise: focus on main ingredients and keep
it short and focused.
Logical: make sure it makes sense overall.
Objective: clear objective and allow readers to
weigh up the pros and cons.
Aspirational: picture what the success of the
business looks like & define the vision of
future.
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9. Inclusive: an effective plan includes the inputs
and insights of all the key stakeholders in
your business – Staff participation (greater
motivation) helps them to understand the
needs and concerns of all stakeholders
including suppliers and customers.
Manageable: business plan that brings down
the vision to a practical level (defining the
near-term milestones and measurable
outcomes). Use five KPIs when you start.
Copyright 2014 Quantum Business House
10. Before starting: gather information about
your industry, market, products and services
you are selling.
Cover page
Table of contents
Executive summary
Mission/vision: capturing essence of your
business – purpose, activity and values
Industry description: Industry outlook, growth
potential and latest trends
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House
11. Competitors
Marketing plan
Business goals: clear and concise objectives
Directors and management: backgrounds and
profiles, roles and responsibilities etc.
Corporate structure
Risk assessment
Implementation schedule
Financial forecast and statements
Terms of investments (if you are borrowing
money)
Appendix
Copyright 2014 Quantum Business
House
12. Description of business: brief history, past
sales and profits, main activities, the stage of
business
Products or services: primary and secondary
use of your products, their uniqueness or
superiority, the benefits for customers, the
needs of different segments.
Identification of market
- Customer needs
- Target market (age, gender, income, location
etc)
Copyright 2014 Quantum Business House
13. - Size of market: determine how large the
addressable market is (ensure it is verifiable
and based on sound assumption)
- Estimated sales
Competitors
- Top five competitors
- Indirect competitors
- Market shares
- How to compete (competitive advantage)
- How to differentiate
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House
14. Marketing Plan
- 4Ps (Place, Price, Product and Promotion)
- Place: distribution plan
- Pricing strategy: based on your costs,
competitors’ pricing, price sensitivities of
your customers, your break-even point
- Product: the key benefits (e.g. extended
warranty)
- Promotion plan: advertising, sponsorship,
events etc.
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House
15. Risk Management: major risk factors and your
measures to encounter the risks (e.g.
insurance, implementation plan etc)
Implementation schedule:
- Key milestones for the development for your
business and their timeframe.
- Which milestones/tasks are interdependent
- Your needs (additional staff and funding)
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House
16. Financial forecasts/statements
- Your current financial statements
- Forecasts based on your market analysis and
assumptions (forecasted profit and loss
statements, balance sheet and monthly cash
flows)
- Major cause of business failure comes with
lack of cash flow and working capital
management
- Consider to get your accountant’s help.
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House
17. Keep your business plan focused.
Have working paper and revise your plan
when needed.
Have feedback from inside (senior employees)
and outside (impartial) to find out the missing
points.
Review regularly (monthly or at least half
yearly) – continually checking your business
progress against your business plan.
Copyright 2014 Quantum Business
House
18. Any Questions?
Don’t forget to email me for the copy of
business plan toolkit
Industry reports from IBISWorld
Business scenario tests from Quantum
Business House could be useful tool for your
plan!
Copyright 2014 Quantum Business
House