Part 1: Developing a Business Plan
Management
Identify the key employees.
1. Who are the key employees? What are their titles or positions in the business?
2. Have these people worked together before? If so, explain.
Develop a resume for each owner and key employee.
Complete the personal resume. Each resume should contain the person's name and title.
Name:
Telephone:
Address:
Social Insurance Number:
Date of Birth:
Employment |
Employer |
How Long? |
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List all responsibilities, experiences, education and background directly related to this business.
Identify any outside consultant and advisors.
Most enterprises need outside help at one time or another but particularly during the start up phase. Examples: finance, tax, legal, insurance, accounting, computers, web site, human resources, management consulting, planning and so on. By using advisors, owners can concentrate on managing the business, leaving the ever changing rules and regulations to the professionals.
For advisors to be of maximum benefit you must be prepared to accept their advice. This valuable advice might not be as expensive as you think and it can pay off in the long run.
Complete the business skills matrix.
The following exercise helps you identify the areas of business expertise where you need to seek assistance. For each skill area, check the adequate knowledge column with an I to indicate that an insider (owner or key employee) has the skill or an O to indicate an outsider has the skill. For each skill area where you have not indicated adequate knowledge, check either the assistance needed or education needed column with an X.
Management Skills
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Adequate Knowledge
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Assistance Needed
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Education Needed
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Accounting & taxes |
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Planning |
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Organizing |
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Finanical management |
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People management |
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Time management |
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Personal selling |
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Promotion |
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Decision-making skills |
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Cost controls |
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Personnel policies |
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Pricing |
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Business Support Checklist
I. Implementation of the business plan. Put a yes or no beside each element.
1. Finalize financing
- Confirm equity
- Arrange commercial equity
- Arrange other financing
Do you need outside help for this activity? Yes or no
2. Negotiate
- Partnership, shareholders' agreement
- Leases
- Insurance coverage
- Other
Do you need outside help for this activity? Yes or no
3. Establish supply source
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Credit terms
Do you need outside help for this activity? Yes or no
4. Acquire
- Inventory
- Equipment
- Furniture and fixtures
Do you need outside help for this activity? Yes or no
5. Construction of facilites
- Construction management
- Manage cost over runs
- Equipment installation
- Layout of store, business
Do you need outside help for this activity? Yes or no
6. Price merchandise
Do you need outside help for this activity? Yes or no
7. Hire staff
Do you need outside help for this activity? Yes or no
8. Establish accounting systems
- Bookkeeping systems
- Montly cash flow
- Monthly operating projections
Do you need outside help for this activity? Yes or no
9. Marketing and advertising
Do you need outside help for this activity? Yes or no
10. Establish credit, collection policies
Do you need outside help for this activity? Yes or no
II. On going operations
1. Prepare montly income and cash flow statement
Do you need outside help for this activity? Yes or no
2. Compare actual to projections
Do you need outside help for this activity? Yes or no
3. Revise montly financial projections
Do you need outside help for this activity? Yes or no
4. Advise client on corrective action
Do you need outside help for this activity? Yes or no
5. Analyze accounts receivable, collections
Do you need outside help for this activity? Yes or no
6. Set up inventory controls
Do you need outside help for this activity? Yes or no
7. Set up operating cost controls
Do you need outside help for this activity? Yes or no
8. Carry out general trouble shooting
Do you need outside help for this activity? Yes or no
9. Train client to understand the above
III. Assessment of business performance
Provide client with business performance assessments on a montly, yearly basis.
Do you need outside help for this activity? Yes or no
Consultant Proposal
Prepare a business support plan to address each business support identified. Include a description of the work to be completed, the resource people to be used, the number of days, the schedule, and estimated costs. Include the names and telephone numbers and relevant qualifications of all resource people assigned, such as an accountant. Attach this document to your business plan.
List all of your existing and planned business advisors
Business Advisors |
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Company |
Telephone |
Accountant, Bookkeeper
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Tax Advisors
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Bankers
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Solicitors
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Insurance Agents
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Consultants
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Other
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Continue to business labour
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