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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.

Business Planning Needs To Incorporate Accounting And Marketing

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

Want to pick up the phone and speak to us about your Strategy, Website, Marketing or Business Development project?
Call us on: 01733 361729
Email: solutions@bdolphin.co.uk

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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