For Entrepreneurs

What Business Are You In?

In keeping with our dedication to helping create tomorrow’s business leaders, Robinson Franklin occasionally considers strategic partnerships during companies’ early years. Fresh ideas combined with Robinson Franklin’s business insight and first-rate ability to access crucial capital could form a winning team that takes your company to the pinnacle of its business sector.

How to Structure Your Business Plan

A good business plan always contains:

  • an executive summary of the detail of the business plan
  • a written synopsis of the business' aims
  • details of the product or service
  • management team
  • financial forecasts and supplements, including the resumes of principal management members, market research data or technical product information.

The bulk of your business plan should cover a number of areas in detail.

List the reasons for the business being established - include business goals, for example, whether ambitious growth is desired or a regular, steady trading level.

Explain what your business will do in simple terms, highlighting any features that set it apart from rivals.

Include market and competitor information, outlining what part of the market you are targeting, key competitors and what differentiates you from them.

Financial forecast

Think about your sales and marketing strategy, include information on how the product or service will be priced, channels to market, advertising and marketing plans.

Details of key personnel and their relevant experience are also important, as is operational information like office location, special equipment and expected employee headcount.

State the financing you need, based on your financial forecasts. Include details of any finance provided by the founder or management team and indicate the key risks to the business and any mitigating action you can take.

Your plan should also include a sales forecast, cash flow forecast and a projected profit and loss account for up to five years' ahead.

Larger businesses should also draw up a projected balance sheet.

The figures used must be reasonable - avoid being over optimistic. The involvement of a qualified accountant in preparing these forecasts is recommended.