Small business planning

In these uncertain times, relying on luck is pointless and business planning has never made more sense. It is a vital aspect of good management and essential for business survival based on sound growth and successful financial performance. Despite this, neatly three-quarters of small firms start and operate without any real planning-all too frequently with disastrous results.

In this volume of the Big Ideas for Small Business series, Alan Williams shows us how to write and implement a sound business plan that minimizes chance and guarantees success. The book begins with a clear explanation of what business planning is, why so few small firms do any significant planning, the characteristics of good planning, and what pitfalls to avoid. Parts 2 and 3 cover organizing your business planning and building your strategic plan. Part 4 concludes with advice on how to turn your strategic plan into an action plan-areas covered include marketing and sales, operations, financial planning and human resources.

ABOUT THE SERIES

BIG IDEAS FOR SMALL BUSINESS is a unique series of books for existing and intending owner/managers of enterprises of all kinds. This innovative collection of practical resources offers guidelines and solutions to the specific and varied needs of modern small business in Australia.

So whether you're just starting out, are having difficulty managing your firm's finances, want to maximize your skills in marketing and planning, or simply want some innovative big ideas, these guides can show you how to turn your small business from an average performer into a true high flyer.

A Note From the Author

About the author

Introduction: Deciding where you want to take your business...what you want it to be...and why!

THE BASICS OF BUSINESS PLANNING
Chapter 1 What is business planning?
What can a business plan do for your business?
Planning: a process of making rational decisions
Business planning as a step-by-step process
Chapter 2 Planning in small business
Why do so few small firms do any business planning?
Common pitfalls in small business planning
The characteristics of good planning and good plans
Chapter 3 Can planning improve small business performance?
Some research evidence
The arguments for business planning
What planning cannot do

PLANNING AND ORGANISING YOUR BUSINESS PLANNING
Chapter 4 Does my business need a business plan?
Chapter 5 Essential skills for good business planning
Chapter 6 Using a planning team and planning manual
Using a planning team
Using a planning manual
Chapter 7 Preparing, presenting and using your business plan
Preparing and presenting your plan
Using your business plan

BUILDING YOUR STRATEGIC PLAN
Chapter 8 Doing the planning jigsaw puzzle
Chapter 9 Strategic planning: setting the direction for the business as a whole
What is strategy?
Stage 1 Setting your broad direction
Step 1 Identify your firm's values and vision
Step 2 Identify your mission and provisional strategic goals
Step 3 Identify your strategic options
Stage 2 Analyse your capabilities and opportunities
Step 4 Assess your internal situation and resources
Step 5 Survey your firm's external environment
Step 6 Do a SWOT analysis (and use it)
Stage 3 Make your strategic decisions, implement them
and monitor the results 184
Step 7 Evaluate your strategic options
Step 8 Select your strategic goals and plans
Step 9 Activate your strategic plan
Step 10 Monitor and control the action
A note about Part 4

ACTIVATING YOUR STRATEGY
Chapter 10 Marketing and sales planning
What is marketing?
Market research
Planning and managing your marketing
Managing the marketing/sales function
Operational-level planning and action in marketing and sales
Chapter 11 Operations planning
What are operations?
Planning and managing operations
Operations planning at the strategic level
Operations planning at the functional level
Operations planning at the operational level
Chapter 12 Financial planning
What is financial planning?
Financial planning at the functional level
Forecasting
Budgeting
Financial planning at the operational level
Chapter 13 Human resources planning
Human resources issues at the strategic level
Human resources planning at the functional level
Human resources planning at the operational level

Appendix A: The basics of forecasting
Least squares forecasting
Semi-averages forecasting

Appendix B: Sample business plan framework

Recommended reading

Index