Page 307 - TCDB combined Book

286 The Complete DESIGN BUILDER

Business Plan:

Preparing a Business Plan that sets out goals and objectives will be an invaluable tool in
establishing the basis for your operation. Together, with your budget you will be in a position to
decide on a complete strategy regarding all facets of the operation, direction and methods you will
employ. Remember that a company without a plan "is like a ship lost at sea, with no idea where it
is, or where it is going." The old saying "if you don't know where you are going you are probably
already there" is also an appropriate comment for operating without a plan. The importance of
preparing a plan is that you are forced to deal with a list of subject areas that will likely be
encountered, rather than finding out at some inappropriate time in the future.

A sound Business Plan should enable you to assess your strengths and weaknesses and
establish the procedure and method to be used in obtaining the contract dollar volume necessary
to cover your budgeted overhead. The plan content must be realistic with reasonable, attainable
goals and objectives, and include a "What if" plan. Your Business Plan should be based on the
realistic sales potential of your Trading Territory and an accurate estimate of the percentage of
this sales potential you plan to secure.

The comprehensive Business Plan should include the following elements.

Overview:

Present status of your Company

Product and Services that the Company will sell and to whom

Benefits that your clients will receive from your product and service

Company goals and objectives for a five year period and the method of attainment

Financial projections and cash flow requirements to meet your objectives.

Company:

Present status

Owner's/Manager's expertise and objectives

Long and Short term goals and objectives.