Business Plans

Failing to plan is planning to fail

Many people start a business without a proper business plan. Although it is not essential, a good business plan can mean the difference between success and failure.

The process of preparing a business plan will very often change the way you plan to develop and run your business. By working with the Marriotts team, you will again an objective view of your business and access to a complete set of skills to help you write the plan.

 

The main elements of a business plan are:

  • An executive summary - this is an overview of the business you want to start. It's vital. Many lenders and investors make judgments about your business based on this section of the plan alone.
  • A short description of the business opportunity - who you are, what you plan to sell or offer, why and to whom.
  • Your marketing and sales strategy - why you think people will buy what you want to sell and how you plan to sell to them.
  • Your management team and personnel - your credentials and the people you plan to recruit to work with you.
  • Your operations - your premises, production facilities, your management information systems and IT.
  • Financial forecasts - this section translates everything you have said in the previous sections into numbers. If you are usingthe business plan to borrow money, it will show the lenders how and when you plan to repay the loan.

Look around the internet and you will see many web sites on preparing business plans. In particular, the Government's Business Link advice is very thorough. There is plenty of free advice available on the internet. Having the time and the skills to put it into an objective, readable document is something else. Contact Marriotts to discuss your business plan requirements. Call 01277 236200