Your business is your most treasured asset. Thus, your business plan should be rock and solid, to ensure your ability to survive in this competitive world and appear as a renowned leader. All businesses begin with a great, bright idea; however, it is the execution of the idea that differentiates successful entrepreneurs from others. Excellent implementation can only take place if companies invest adequate time and money towards developing a sturdy business plan and strategizing smartly.
Numerous benefits of drawing up a good Business Plan include:
- Budgeting and setting targets for your staff
- Allocating resources such as capital, manpower, or technology.
- Setting business goals and objectives, as well as creating strategies to achieve them.
- Tracking business performance and taking necessary corrective actions while undertaking regular reviews.
- A business plan is an important document that is required when fundraising a debt or equity.
Understanding the significance of developing a business plan is important; however, knowing the constituents of a sound business plan is equally crucial:
- Executive Summary
- Company Overview
- Products & Services Offering
- Market Analysis and Plan
- Management Team
- Financial Overview
- Specific Milestones & Targets
Although the above list is more illustrative, your business plan must be simple, specific, realistic, and able to provide the reader with full information. Make the plan document attractive and easy to read by adding graphs, charts, ratios, and photographs!
Build a New Business Plan
We would gladly offer our expertise if you want to start strongly and be unique among your competitors with an exceptional business plan. With you and your senior management team, we start with a brainstorming session. We will then research everything related to your company, your products/services, your industry, and your competition to build the foundation of the business plan. Thereafter, we add some detailed financial information to the plan, including sensitivity scenarios and ratio analysis to endorse various business statements. Moreover, we develop a version of the financial model for you to track regularly, as your working budget file.
Our role doesn’t end there. From thereon, we support the company in formulating the budgeting system and also providing the company’s accounting team with generating monthly variance reports for one or two cycles, until they can easily generate reports on their own. We likewise provide comprehensive templates that include simple data input sheets, in order to make the process simpler for the accounting team, so that they can feed their actual financials from their accounting software and generate a detailed management dashboard.
Customize Existing Business Plan
You may consider our services in case of having a basic business plan, but your business has grown into something much bigger. We would like to provide you with an expert review, propose modifications and update them appropriately. We could even build on a detailed financial forecast model and advise on any additional content that should be included when addressing your target audience for the plan.
Month End Reporting
Month-end reporting can be a tedious process because of evaluating the financial records of the whole company for the current month and making sure that you did not miss anything. If any transaction has not been recorded, adjustments have to be made. This can consume a lot of time which is why you can quickly track your month-end close process with the help of a Virtual CFO.
Board & Management Reporting
We can’t stress enough the significance of organized and proficient management reporting. These reports that are created support your team in making the right business decisions, help lift your business’s performance and enable good governance! In addition to that, it also helps enhance investors ‘confidence. Our team of specialists can assist in analyzing and generating detailed reports for your business. Besides, we undertake a full review of financials and operational parameters to provide you with in-depth analytics and help in designing smart finance reports. We also use ratios, trends, comparatives, industry benchmarking, scenarios, and other statistical techniques to perform our analysis. Moreover, we help you with key stakeholder review meetings through undertaking specialized analytics. Through the engagement, we would also devise a process where you can get a clear overview of profitability by the client and by categories of products and services.