Business planning
Many people think a business plan is only written when seeking finance. This is just one of the reasons for writing a business plan. The most important reason is it's is the best possible way of developing a blueprint for the future of your business. It has been said that ‘If businesses fail to plan, they plan to fail.’
A business plan
- describes the purpose of the business;
- describes the present and future shape of the business;
- documents the challenges faced by the business;
- defines short and long term objectives;
- establishes a framework for action to achieve those objectives; and
- sets out performance measures which enable you to measure progress toward achieving your purpose.
A business plan should describe the NOW (where is my business now?), the WHERE (where do I want it to be?), and the HOW (how am I going to get there?).
Need advice?
A SWOT analysis is a useful starting point for developing a business plan.
‘SWOT’ stands for Strengths, Weaknesses, Opportunities and Threats.
Strengths and weaknesses relate to what is going on inside the business. Opportunities and threats relate to what is going on outside the business. By taking a look at the internal strengths and weaknesses of your business, and the external opportunities and threats you face, you will be able to build on the strengths, address the weaknesses, seize the opportunities and defend your business against threats.
SWOT analysis is a simple technique for assessing business ideas, preparing or amending plans, problem solving and decision making, or making staff generally aware of the need for change.
For more information, visit Wikipedia – SWOT Analysis.
Important people to have on your side
- Accountant
- Solicitor
- Bank manager
- Your family
- Business coach or mentor
- Network of like business owners
- Industry associations, such as Flavour SA and your local food group
How has the SA Food Centre helped others?
There are many examples of assistance offered to South Australian food businesses.
Case studies
Saltbush Livestock
Ferguson Australia
La Casa Del Formaggio
Who can I contact?
Contact the SA Food Centre for assistance or further contacts to help with funding.
- Page last modified: November 15, 2011, 5:53 pm
- Welcome URL is http://www.safoodcentre.com.au/
- This page: http://www.safoodcentre.com.au/business_fundamentals/business_planning
