Practical Steps to Business Planning Dr A Yoxall
<ul><li>Introduction </li></ul><ul><ul><li>About our company </li></ul></ul><ul><li>Our strategy </li></ul><ul><ul><li>Wha...
<ul><li>Introduction </li></ul><ul><li>Set up Ansolve Ltd approximately five years ago with some colleagues and ex-colleag...
 
 
 
<ul><li>Introduction </li></ul><ul><li>Our experience primarily in the rail, automotive and biomedical fields </li></ul><u...
<ul><li>Introduction </li></ul><ul><li>No contacts in fields outside of our expertise </li></ul><ul><li>Reliance on a sing...
<ul><li>Introduction – Development of a  business plan </li></ul><ul><li>Where are we? </li></ul><ul><li>Where did we want...
<ul><li>Introduction </li></ul><ul><li>Data mining  </li></ul><ul><li>SWOT Analysis  </li></ul><ul><li>Marketing </li></ul>
<ul><li>Introduction </li></ul><ul><li>Future trends </li></ul>- renewable energy - fuel cell technology - biomechanics
<ul><li>Summary </li></ul><ul><li>Really difficult – but fun! </li></ul><ul><li>Best results came from contacts </li></ul>...
<ul><li>101 things they don’t tell you </li></ul><ul><li>Easy things </li></ul><ul><li>Hard things </li></ul>
<ul><li>101 things they don’t tell you </li></ul><ul><li>Easy things </li></ul>
<ul><li>101 things they don’t tell you </li></ul><ul><li>Setting up your business </li></ul><ul><li>UK one of the easiest ...
<ul><li>101 things they don’t tell you </li></ul><ul><li>Different types of business </li></ul><ul><ul><ul><li>Sole trader...
<ul><li>101 things they don’t tell you </li></ul><ul><li>Strangely, the tax office and VAT people are incredibly friendly ...
<ul><li>101 things they don’t tell you </li></ul><ul><li>Get a good accountant </li></ul><ul><li>Be organised </li></ul><u...
<ul><li>101 things they don’t tell you </li></ul><ul><li>Hard things </li></ul>
<ul><li>101 things they don’t tell you </li></ul><ul><li>The forms </li></ul><ul><ul><ul><li>Companies house </li></ul></u...
<ul><li>101 things they don’t tell you </li></ul><ul><li>VAT  </li></ul><ul><ul><ul><li>You  charge  VAT on your invoices ...
<ul><li>101 things they don’t tell you </li></ul><ul><li>Legally you must keep everything to do with your business </li></ul>
<ul><li>101 things they don’t tell you </li></ul><ul><li>As a limited company for example you must keep records of shareho...
<ul><li>101 things they don’t tell you </li></ul><ul><li>Legally you must be aware of health and safety </li></ul>
<ul><li>101 things they don’t tell you </li></ul><ul><li>Legally you must have the correct insurance </li></ul>
<ul><li>Summary </li></ul><ul><li>Don’t let the hard things put you off  </li></ul><ul><li>It can be great fun and financi...
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Practical Steps to Business Planning

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Practical Steps to Business Planning

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Practical Steps to Business Planning

  1. 1. Practical Steps to Business Planning Dr A Yoxall
  2. 2. <ul><li>Introduction </li></ul><ul><ul><li>About our company </li></ul></ul><ul><li>Our strategy </li></ul><ul><ul><li>What did we put in place? </li></ul></ul><ul><li>Running a business </li></ul><ul><ul><li>101 things they don’t tell you </li></ul></ul>
  3. 3. <ul><li>Introduction </li></ul><ul><li>Set up Ansolve Ltd approximately five years ago with some colleagues and ex-colleagues from industry </li></ul><ul><li>Specialist engineering consultancy firm </li></ul><ul><li>Set up since we were fed-up of working for somebody else </li></ul>
  4. 7. <ul><li>Introduction </li></ul><ul><li>Our experience primarily in the rail, automotive and biomedical fields </li></ul><ul><li>The market is extremely crowded </li></ul><ul><li>Finding our niche very important </li></ul>
  5. 8. <ul><li>Introduction </li></ul><ul><li>No contacts in fields outside of our expertise </li></ul><ul><li>Reliance on a single market </li></ul><ul><li>Needed to spot future trends </li></ul>
  6. 9. <ul><li>Introduction – Development of a business plan </li></ul><ul><li>Where are we? </li></ul><ul><li>Where did we want to be? </li></ul><ul><li>How were we going to get there? </li></ul><ul><li>What resources would we need? </li></ul><ul><li>What obstacles do we anticipate? </li></ul>
  7. 10. <ul><li>Introduction </li></ul><ul><li>Data mining </li></ul><ul><li>SWOT Analysis </li></ul><ul><li>Marketing </li></ul>
  8. 11. <ul><li>Introduction </li></ul><ul><li>Future trends </li></ul>- renewable energy - fuel cell technology - biomechanics
  9. 12. <ul><li>Summary </li></ul><ul><li>Really difficult – but fun! </li></ul><ul><li>Best results came from contacts </li></ul><ul><li>Need to take risks </li></ul><ul><li>Be organised </li></ul><ul><li>Plan your growth strategies </li></ul>
  10. 13. <ul><li>101 things they don’t tell you </li></ul><ul><li>Easy things </li></ul><ul><li>Hard things </li></ul>
  11. 14. <ul><li>101 things they don’t tell you </li></ul><ul><li>Easy things </li></ul>
  12. 15. <ul><li>101 things they don’t tell you </li></ul><ul><li>Setting up your business </li></ul><ul><li>UK one of the easiest places in the World to start a business </li></ul><ul><li>You can do it on-line for a few hundred pounds </li></ul><ul><li>Choosing a name is probably the hardest part </li></ul>
  13. 16. <ul><li>101 things they don’t tell you </li></ul><ul><li>Different types of business </li></ul><ul><ul><ul><li>Sole trader </li></ul></ul></ul><ul><ul><ul><li>Partnership </li></ul></ul></ul><ul><ul><ul><li>Ltd company </li></ul></ul></ul><ul><li>Ansolve is a Ltd company </li></ul><ul><li>Requires shareholders </li></ul>
  14. 17. <ul><li>101 things they don’t tell you </li></ul><ul><li>Strangely, the tax office and VAT people are incredibly friendly and helpful </li></ul>
  15. 18. <ul><li>101 things they don’t tell you </li></ul><ul><li>Get a good accountant </li></ul><ul><li>Be organised </li></ul><ul><li>Get advice from wherever you can </li></ul><ul><li>- Business Link </li></ul><ul><li>- your bank </li></ul><ul><li>- local chamber of commerce </li></ul>
  16. 19. <ul><li>101 things they don’t tell you </li></ul><ul><li>Hard things </li></ul>
  17. 20. <ul><li>101 things they don’t tell you </li></ul><ul><li>The forms </li></ul><ul><ul><ul><li>Companies house </li></ul></ul></ul><ul><li>Taxes </li></ul><ul><ul><ul><li>Corporation tax </li></ul></ul></ul><ul><ul><ul><li>Income tax, National Insurance </li></ul></ul></ul><ul><ul><ul><li>VAT </li></ul></ul></ul>
  18. 21. <ul><li>101 things they don’t tell you </li></ul><ul><li>VAT </li></ul><ul><ul><ul><li>You charge VAT on your invoices </li></ul></ul></ul><ul><ul><ul><li>You claim VAT on your purchases </li></ul></ul></ul><ul><li>Fortunately all tax issues can be dealt with online </li></ul><ul><li>Not payable until business generates approximately £45k of turnover </li></ul>
  19. 22. <ul><li>101 things they don’t tell you </li></ul><ul><li>Legally you must keep everything to do with your business </li></ul>
  20. 23. <ul><li>101 things they don’t tell you </li></ul><ul><li>As a limited company for example you must keep records of shareholder meetings </li></ul><ul><li>Keep your cheque stubs ! </li></ul>- and fill them in
  21. 24. <ul><li>101 things they don’t tell you </li></ul><ul><li>Legally you must be aware of health and safety </li></ul>
  22. 25. <ul><li>101 things they don’t tell you </li></ul><ul><li>Legally you must have the correct insurance </li></ul>
  23. 26. <ul><li>Summary </li></ul><ul><li>Don’t let the hard things put you off </li></ul><ul><li>It can be great fun and financially rewarding </li></ul><ul><li>It’s a challenge but that’s why you do it </li></ul>

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