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Top Tips to Developing a Business Plan and Establishing the Right Structure for Increased Success

Over recent weeks, the directors at McKinley Plowman have been invited to speak at Franchising Expos and Business Breakfast Briefings on this topic.

The most successful business have designed and developed a business plan that is supported by the right legal structures that allow them to maximise their profits and value on any exit.

These include;

• A clear strategic business plan that drives their objectives and performance.
• A vision that connects with their team & clients.
• A clear point of difference and strong brand.
• An inclusive engaging culture.
• A high performing team.
• Key Performance Indicators for the critical success factors that drive the business performance
• A visual dashboard which will allow them to measure and manage the important items, and most importantly, take corrective action quickly.

Once developed, the owners or managers use the business plan to drive the performance of the business.

Key ingredients to be considered include;

• Defined and agreed core values ( non-negotiables)
• Clear Focus on how the customer is better off.
• Balance of the Strategic, Business & Operational items.
• Internal focus on critical success factors.
• External focus on the benefits the customer obtains, how they feel, what they get, and/or the experience they enjoy.

The business plan contains a Scoreboard and Accountability and is engaging, motivational and results focused.

The best business plan will always begin with the end in mind and will address the exit strategy – and develop options to maximise the value, terms and conditions for the stakeholders.

We look forward to hearing about your success and would be delighted to discuss your situation with you.

written by:

McKinley Plowman