Part 7: Pull It Together: Develop Your Action Plan Have a quick read through your previous 6 templates, notes, completed tables and lists. You have come a long way in planning for the growth of your business. You should now have an in-depth analysis of your current business position, where you want to develop and grow profits and what resources are needed to make that growth possible. You are now at the where you write the most important aspect of your business plan: The Executive Summary Executive Summary (Place at the start of your Business Plan) The Executive Summary is always written last as it is a concise summary of everything that you have worked through on Days 1-6 of Business Planning Week. Once written, The Executive Summary should be placed at the start of your completed business plan so that: You and your team can quickly recap on the key aspects of your plan Investors or other third parties can come to grips with the complexities of your business without having to wade through pages and pages of tables, charts and words. It is expected business protocol and re-enforces your professionalism. How To Your Executive Summary Aim to summarise your business plan in 1 page. (More established or complex businesses may need more but should never exceed 2 pages.) Ensure you summarise the entire business plan Use clear headings (Objectives, Marketing, Sales etc ) for each aspect covered and include a couple of lines for each section. Use headline figure tables for financials etc as simple overviews e.g.: 2012 2013 2014 Year 2015 Year 2016 Year (Actual) (Actual) (Actual) (Projected) (Projected) Revenues 800 1400 5000 10000 25000 50000 Cost of Goods 200 35000 1250 2500 6125 Expenses 1200 2000 4000 7000 28000 Profit (loss) (600) (950) (250) 500 3825 10750 Action Plan This is also the time to look at what needs doing. The whole process of planning will
Part 7: Pull It Together: Develop Your Action Plan Have a quick read through your previous 6 templates, notes, completed tables and lists. You have come a long way in planning for the growth of your business. You should now have an in-depth analysis of your current business position, where you want to develop and grow profits and what resources are needed to make that growth possible. You are now at the where you write the most important aspect of your business plan: The Executive Summary Executive Summary (Place at the start of your Business Plan) The Executive Summary is always written last as it is a concise summary of everything that you have worked through on Days 1-6 of Business Planning Week. Once written, The Executive Summary should be placed at the start of your completed business plan so that: You and your team can quickly recap on the key aspects of your plan Investors or other third parties can come to grips with the complexities of your business without having to wade through pages and pages of tables, charts and words. It is expected business protocol and re-enforces your professionalism. How To Your Executive Summary Aim to summarise your business plan in 1 page. (More established or complex businesses may need more but should never exceed 2 pages.) Ensure you summarise the entire business plan Use clear headings (Objectives, Marketing, Sales etc ) for each aspect covered and include a couple of lines for each section. Use headline figure tables for financials etc as simple overviews e.g.: 2012 (Actual) 2013 (Actual) 2014 (Actual) Year 2015 (Projected) Year 2016 (Projected) Year Revenues 800 1400 5000 10000 25000 50000 Cost of Goods 200 35000 1250 2500 6125 Expenses 1200 2000 4000 7000 28000 Profit (loss) (600) (950) (250) 500 3825 10750 Action Plan This is also the time to look at what needs doing. The whole process of planning will