Every business needs a Business Plan.  It forces you to review everything…Your value proposition, your marketing plan, your operations plan, your financial plan, your human resources plan. Your Business Plan will drive your future. It allows you to take a broad look at your business and set goals.

 

Qualitative Measures

·      Core Values and Beliefs

·      External Opportunities (e.g., technology) and Threats (e.g., legislation)

·      Internal Strengths (e.g., client service) and Weaknesses (e.g., missing skills)

·      Outrageous Goals

Quantitative Measures

·      Revenue

·      Direct Expenses

·      Gross Margin

·      Overhead

·      Operating Margin

·      Days Sales Outstanding

·      Accounts Receivable Aging

·      Working Capital (Current Assets – Current Liabilities)

 

 

“42 percent of business owners are more likely to achieve their financial goals just by writing them down.”

- Study by the University of California