Typically, business owners who are required to prepare a business plan have limited options between choosing a standard ‘one size fits all’ template and an expensive tailor-made plan made by some management consultant. Not anymore. At MaxMargin Accountants, we assist and help our clients to develop a good quality business plan using a simplified ‘question led approach’ using various business plans tools available in the marketplace.
We help our customers understand a business plan, the importance of a business plan, and necessary components of a business plan which enables them to better understand their own business, plan for future expansion and development.
A business plan is basically an overview of where your business is currently, where you wish to take your business in a given time frame and how would you like to take your business from where it is to where you want it to reach. For example, your current annual revenues are $100,000, and you wish to double your revenues within 3 years. So your business plan will be a roadmap guiding you to increase your revenues from $100,000 to $200,000 in three years. You may introduce new products or variants to boost sales, or enter a new market or offer lower prices to increase sales volume etc.
Many business owners are too busy running their business or do not have adequate knowledge of formulating a business plan. Most business owners end up dedicating so much time in the day to day operations of their business that they are unable to devote any time to strategic planning to grow their business.
As we believe that every business needs to have an end goal in mind, and hence we are very passionate about helping our clients with regards to their business structure, bookkeeping, financial planning, inventory management, cost saving initiatives etc. It is essential from a business planning perspective as a business owner Is required to consider the economic outcomes you would like to achieve from the get-go and the financial implication of steps and initiatives taken by them. With the help of various financial modelling tools, we can prepare a vast array ‘what ifs’ calculations enabling our clients to understand different scenarios from the best to worst case scenarios and everything in between.