Not all business plans are created equal.
After creating hundreds of successful business plans, we
have come to understand some of the key elements that determine planning
success.
Many first time planners focus on the template or layout of
the plan. Whilst a clear, well presented
plan is important, it is not sufficient to raise capital, obtain a loan, or
interest partners or collaborators in your business.
The business concept, business model and execution approach
are at the heart of a successful business plan.
These core elements need to be backed up with factual references where
possible.
Question led business planning is a proven technique that
has been pioneered by Business Planning HQ as a result of thousands of
consulting hours assisting clients build better business plans.
The consulting approach by and large is one where a series
of targeted questions are asked to guide the client to the creation of a clear
business concept, business model and execution strategy. Through experience we have found that these
questions are often the ones asked by investors, partners or collaborators, and
by answering them throughout the planning process, we are able to provide a
substantial increase in the quality and consistency of a plan.
Thorough document automation, we have been able to reduce
the costly process of consulting input but directly using the answers to
questions throughout a well structured and proven business planning document.
Being able to focus exclusively on the answers to a series
of targeted questions enables the business planner to communicate their plan
with a significantly greater degree of clarity.
Clarity and consistency between business planning elements are often considered
to be significant indicators of a poor quality plan. Describing a business is not like describing
an object, it is comprised of many interlinked moving parts. Clearly outlining the intersection of these
parts and the fact that they fit together neatly like a jigsaw puzzle, leads
the reader to greater clarity about your proposed business.
Marcus Tarrant is a leading or management consultant, entrepreneur and thought leader. He has worked for leading consulting firms including Deloitte Consulting, leading major strategy development and business planning initiatives. Business Planning HQ was developed to bring the advantages gained by employing a consultant, without the associated cost. We have developed the “Question Led Approach” to simplify the process of creating a high quality business plan. Our clients agree with our claims that we have reduced their planning times from over 1 week, to less than 4 hours.
