Business Planning Needs To Incorporate Accounting And Marketing
A recent survey by Centre for Economics and Business Research has shown yet again that a large amount of small businesses have no business plan. Plus Business Planning Needs To Incorporate Accounting And Marketing
There is nothing new here for years research from a wide variety of respected organisations has shown that small and medium businesses fail to develop a business plan.
So how do companies make informed decisions to guide the business without a plan.

Importantly if you are looking at creating a business plan its important that it contains both financial and marketing information.
Financial Business Planning Fundamentals
- A 3 to 5 year business plan with some key financials
- A budget
- Quarterly reporting on performance against budget
- Cashflow tracking and forecasting
- Some key performance indicators (Note M&S as a huge retailer have only 6 KPI’s)
So from a financial perspective
- Plan, Plan and Plan some more
- Understand the business and drivers
- Consider the financial data
- Cash is the lifeblood of any organisation make sure your company is viable
- Evaluate and monitor change and adjust accordingly
Why a financial expert is important to your business needs
- The will understand the key objectives and drivers
- They will be genuinely excited by the detail of financial planning
- Asking them to set up the reporting you need to track business performance will be the equivalent of giving them a bonus
- They can help you when you start to go off track financial
Sales & Marketing Planning Fundamentals
- A 12 month to 3 year business plan with key financials
- A budget
- Quarterly reporting on performance against budget
- Tracking and forecasting
- Some key performance indicators (Proposal to order ratio, length of time prospect to customer, where inquiries came from)
So from a sales and marketing perspective
- Plan, Plan and Plan some more
- Understand customers
- Consider issues of importance and value to a customer
- Customers are the lifeblood of any organisation make sure your company manages customers appropriately
- Evaluate and monitor change and adjust accordingly
Why a marketing expert is important to your business needs
- The will understand the key objectives and drivers
- They will be genuinely excited by the detail of evaluating customers and identifying what they want and how it can be sold profitably
- Asking them to identify the most cost effective way of engaging and converting will be the equivalent of giving them a bonus
- They can help you when you start to go off track by reacting to unsolicited promotional / advertising spend
Business Planning Needs To Incorporate Accounting And Marketing
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