Monitoor the Readiness of Your Business Plan
Business plans are like CVs; they should be comprehensive and kept up to date. They should be active management tools, providing guidance on strategy and expenditure.
Use this assessment repeatedly to monitor the readiness of your business plan. It covers each chapter in your plan, with an additional section for when you are seeking to raise capital.
Find out your readiness in the following key areas:
Provide a background statement with history of the company and purpose of the business plan.
Description of the main products or services in layman's language; what is to be sold for what purpose.
Describe your market generally and its future prospects, size and the anticipated growth.
Marketing involves identifying a need and planning to satisfy it.
Set out how you propose to deliver your product or service.
Include your latest accounts, assumptions and forecasts.
Describe the management's capabilities and ability to achieve the objectives they have set.
State the risks inherent in the business and steps taken to mitigate them.
Timescales and benchmarks underpin your plan and help with subsequent monitoring.
A business plan is a key tool in fund raising but only part of the package required.
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Shine a light on your strengths and development needs
This Scorecard has been designed to help evaluate your personal effectiveness as a manager. Use it to identify training and development opportunities to improve your performance