Internal Business PlansA guide from Wisteria Chartered Accountants

Would you get in your car and drive off on a long journey without a map?

Definitely not.

So...Developing a plan for the future and identifying the steps to get there is essential if your business is to have a chance of success.

So what are you really going to get out of an internal business plan?

1. It helps you to define your business goals

2. It helps you understand better how all the areas of your business work and can contribute towards your goals

3. It helps identify any “blockages” and define a strategy to eliminate or work around them

4. Assess the strategies that you are currently adopting and determine if these should continue to be followed

So who develops the internal business plan?

This requires the input of all major stakeholders...

Managers and staff Investors Others including customers and suppliers

Often a business plan consultant will facilitate the development of the plan

How should an internal business plan look?

There is no set format and no two plans are ever the same

However, the plan should be...Detailed in the areas requiring detail (such as financial plan or marketing plan etc)Focused at problem solving and planning your business’ future.Analytical and forward thinking

The plan outline can normally be completed within a day

Writing up and presentation can take another day.

Where can I go for more information?Wisteria’s business plan experts can help you no matter what stage your business is at. For more information visit:www.wisteria.co.ukOr contact us on:020 8952 0140 Emailinfo@wisteria.co.uk