JPAbusiness Annual Business Plan Template
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This document provides templates for a business to conduct an annual planning process, including a business health check, assessment of business value and return, SWOT analysis, and review of customer portfolio. It encourages the business to rate various factors on their business health, calculate their implied business value, identify strengths, weaknesses, opportunities, threats and top customers to develop an actionable 3-year business plan.
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JPAbusiness Annual Business Plan Template
- 1. JPAbusiness Annual Business Plan Template Date: Name of business: Period of plan: 3-year aim: PART A: Business and Resources Self-Audit – where is your business now? Step 1: Use the JPAbusiness Business Health Check Template. We’ve included the content of the Business Health Check Template on the following pages. To download a fresh template, click here and the template will open straight up, or visit http://www.jpabusiness.com.au/e-book/jpabusiness-business-health-check-template JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/.
- 2. JPAbusiness Business Health Check Template Rate your business health When thinking about the state of your business today, please allocate a score of 1, 2 or 3 to the following Business Health Factors (1=below your expectations, 2=meets your expectations, 3=exceeds your expectations). Please be honest with your rating – your business, its customers and staff, are counting on it! Business Health Factors What to consider Rating (Circle your choice) Consistency of business systems and processes Consistent business systems and processes ensure regularity of business performance, which is critical to delivering customer service and efficient outcomes. 1 2 3 Staff performance People are key to driving business performance – are you getting value from your investment in people? Are your expectations and staff job responsibilities being met? 1 2 3 JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/.
- 3. Business Health Factors What to consider Rating (Circle your choice) Financial performance Are your expectations regarding the financial performance of the business being met? Are you a solvent business (i.e. consistently meeting current financial commitments), and are you also meeting financial projections and budgets? 1 2 3 Billing, invoicing and debtor management Are your customers meeting your payment terms? Are billing processes and follow-up timely and in close proximity to when services or products are provided or sold? 1 2 3 Cash flow Cash flow is the blood in the veins of your business, allowing you to operate day to day. Is the blood flow strong or weak? Does the business experience periods of tight or constrained cash flow that impact day-to-day operations? 1 2 3 JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/.
- 4. Business Health Factors What to consider Rating (Circle your choice) Creditor payments Are you meeting your obligations and commitments to suppliers? Are you meeting your statutory payments to parties such as the ATO? 1 2 3 Work in progress The strength and diversity of your WIP is a measure of the business maintainable earnings. Do you have a solid order book into the future? 1 2 3 Job management and project delivery In order to manage risk and meet customer expectations, you need to know exactly where projects are up to, in terms of scope, delivery and financial processes, such as invoicing. 1 2 3 JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/.
- 5. Business Health Factors What to consider Rating (Circle your choice) Quality of job delivery Are you actively and dynamically measuring the quality outcomes of what you produce/sell/provide? Or do you only find out about quality when you get a complaint? 1 2 3 Client servicing Are your clients’ expectations being met? Measure this by seeking feedback from clients, and keep track of repeat business and customer retention. 1 2 3 Organisation and scheduling Do you feel in control of the day-to-day activities your business undertakes? Are tasks planned, scheduled, prioritised? 1 2 3 JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/.
- 6. Business Health Factors What to consider Rating (Circle your choice) Risk management Do you have an active process within the business for identifying and addressing key risks – payment, market, customer, safety – that may dramatically impact the fortunes of your business? 1 2 3 Staff culture Is your people culture conducive to a positive, open and interactive team environment that is rewarding for the business and the individuals that work within it? 1 2 3 JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/.
- 7. Business Health Factors What to consider Rating (Circle your choice) Business sustainability and reward for owners Are you maintaining and growing the value of your business? Are you getting a decent remuneration as an owner working in the business for your day-to-day work, and also a return on the funds you have employed? How vulnerable is the business to outside events? 1 2 3 Business plan and budget/ projections documented for the current financial year Successful businesses have a keen eye on the future. They plan out where the business needs to be at least in the next 12 months (and beyond) and they have a budget and projection for how that will be achieved. 1 2 3 Total Score………………… JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/.
- 8. What your results mean: 30 plus If you scored 30 or more, chances are your business has a sound health for the years ahead. You might want to consider strategic growth opportunities or other refinements to assist with your longer term success. 20 – 30 If you scored between 20 and 30, chances are you’ll be experiencing some aches and pains, either internally with regards to delivery and performance, from a cash flow or financial perspective, or from other factors. Consider seeking the advice and assistance of an advisor to explore and recommend some remedies. Below 20 If you scored below 20, chances are it’s time for some significant ‘surgery’. A performance review or other such options, including restructure, turnaround plan or possible sale or divestment, may need to be considered. JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/.
- 9. Step 2: Business Value and Return Use the JPAbusiness Business Value and Return Calculator to help answer the following questions and determine the impact of your expected rate of return on your Implied Business Value: 1. Considering the last 3 years’ financial performance, has your business generated your required rate of return? 2. Considering the last 3 years’ performance, what Implied Business Value has your business shown? 3. What are your expectations around the rate of return your business needs to generate in the coming 12 months? Click here to use the calculator, or visit http://jpabusiness.com.au/business-calculators Your Implied Business Value: $ JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/.
- 10. Step 3: Strengths, Weaknesses, Opportunities and Threats – what are they today? STRENGTHS (you can influence – what you’re good at) OPPORTUNITIES (you may be able to influence) JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/. • • • • • • • • WEAKNESSES (you can influence – internal factors) THREATS (you have limited influence – external factors) • • • • • • • •
- 11. Step 4: Customer Portfolio – for the most recent financial year just past Summary statement on customers or business line diversity: Top 5 Customers Income Last FY ($’s) Gross Profit Last FY ($’s) Debtor Performance (Invoices Outstanding) JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/. 1. 2. 3. 4. 5. Other Total
- 12. Step 5: The top 5 issues and challenges impacting the growth, development and fortunes of the business in the next 12 months (e.g. internal and external to the business economic conditions, compliance and regulation, people capability, cash flow and working capital etc). JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/. 1. 2. 3. 4. 5.
- 13. PART B: Competitive Market Analysis Step 1: Profile the competitive players in your market Smaller Players Aggressive Players Name Turnover ($/m) Share of Market (%) Name Turnover ($/m) Share of Market (%) New Entrants (1-3 years) Big Passive Players Name Turnover ($/m) Share of Market (%) Name Turnover ($/m) Share of Market (%) JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/.
- 14. Step 2: The top 5 trends on competitive factors relating directly to your products or services that may impact the business in the next 12 months (e.g. margins, prices, competitors, imports, products, technology, customer needs). JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/. 1. 2. 3. 4. 5.
- 15. Step 3: What is your Point of Difference versus your main competitors, i.e. why are customers dealing with you ahead of another provider? JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/. 1. 2. 3. 4. 5.
- 16. PART C: Outlook – where do you want your business to be over the next 12 months? Outcomes Strategy Actions Targets Customers Financial Return JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/. Quality Risk Business Value
- 17. PART D: Budget to deliver the Annual Business Plan Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Operating Inflows Income Cost of goods sold Gross Profit Operating Outflow Monthly Surplus/Deficit (Sub-total) Capital Capital Income (Inflows) Capital Investments (Outflows) Monthly Cash Surplus/Deficit (Total) JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/.
- 18. Notes and key assumptions: Business Plan Creation and Approach Checklist 1. Have you sought active staff and stakeholder input? □ 2. Has there been a pressure testing process? □ 3. Is the plan robust, realistic and the right direction for the business? □ 4. Business owner sign-off □ 5. Have you communicated key elements of the plan to important stakeholders □ There are multiple benefits that flow from business planning, so if you find yourself stuck on any of the questions in this Annual Business Plan Template, please don’t give up. Phone a friend or colleague, or seek some professional advice from a business advisor, and take advantage of the tools at hand to help turn your business ambitions into reality. JPAbusiness Pty Ltd Phone: +61 2 6360 0360 This work is licensed under the Creative Commons Attribution 4.0 International License. ABN 62 150 534 099 www.jpabusiness.com.au To view a copy of this license, visit http://creativecommons.org/licenses/by/4.0/.