By John Westwood
Step one in initiating a company is to attract up an in depth plan. so much services of finance for start-ups or growth insist on seeing a marketing strategy earlier than they're going to even reflect on the required investment. A marketing strategy can also be valuable for marketers to elucidate their goals and pursuits. A marketing strategy is key" it presents a blueprint for the way forward for an organization and a benchmark opposed to which to degree development. This absolutely up to date version of the best-selling "How to organize a marketing strategy" explains the complete strategy in daily phrases, masking: * writing the plan; * generating cash-flow forecasts; * making plans the borrowing; * increasing the company. the writer introduces a number of small companies as case reports, examining their company plans, tracking their development and discussing their difficulties. even if you're looking to start-up or extend, this useful suggestion can assist you to organize a plan that's adapted to the necessities of what you are promoting -- one who gets you the monetary backing wanted.
Read or Download How to Prepare a Business Plan: Business Enterprise Guide (''Sunday Times'' Business Enterprise) PDF
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The ‘Moulding materials and wages’ represent the amounts actually spent on these items, as do the amounts for ‘Overheads’ – from the ‘Overhead Schedule’ – for ‘Interest’ and for ‘Capital payments’. There is a line for ‘Drawings’ representing what Rosemary and Muriel need as living expenses, and lines to show the cash they have borrowed and their own money which they have introduced. The ‘Loan repayments’ are also shown in their due time. The VAT line is constructed by deducting the VAT on payments to suppliers, both of ongoing cost and overheads, and the capital payments, from the VAT charge to customers.
The same principles apply as listed on the first page of Chapter 1. On the following pages you will find examples of business plans appropriate when applying for a loan of a few hundred pounds. I will also go through the stages of filling out a bank’s cash flow forecast form. Example 1 My name is Alexander Battersby. I am a skilled joiner by trade and I wish to borrow £500 to set up in business on my own. The market for my services My uncle, George Battersby, who has been a self-employed joiner for 20 years, has decided to retire and will let me have his list of customers and contacts and sell me his tools.
These are the months in which heavy payments are made and, especially in August, the cash receipts are relatively low. If money is not held back from, say, June or December to meet the requirements of August and January, the business could well be in difficulties. Any selfemployed man or woman should keep a cash flow forecast and update it regularly just to watch out for such problems. As 1, but half the sales are on 30 days’ credit and half the customers pay on time. May June £ £ July £ Aug £ Sept £ Oct £ Nov £ Dec £ Jan £ Total sales Credit sales 5,000 5,000 5,000 2,500 5,000 5,000 5,000 10,000 5,000 2,500 2,500 2,500 1,250 2,500 2,500 2,500 5,000 2,500 Cash from debtors last month’s two months ago Cash sales 1,250 1,250 1,250 625 1,250 1,250 1,250 2,500 1,250 1,250 1,250 625 1,250 1,250 1,250 2,500 2,500 2,500 1,250 2,500 2,500 2,500 5,000 2,500 Total cash received 2,500 3,750 5,000 3,750 4,375 4,375 5,000 7,500 6,250 Payments to creditors 3,333 3,333 3,333 1,666 3,333 3,333 3,333 6,666 3,333 Cash flow –833 417 1,667 2,084 1,042 1,042 1,667 834 2,917 It is interesting to see, in the last example, that the month of highest sales produces one of the lowest cash flows, whereas the month of lowest sales produces the second highest cash flow.
