The Business Plan: a tight business proposition
So often we see business plans where people have started at the beginning and told a lovely story – but there’s no real indication that this idea will be solid and profitable. KPPM’s approach (affectionately called The Wringer) starts with the most important issue – the business model.
Put simply, the business model looks at ‘money in’ and ‘money out’ and tells you whether this business (or idea) is going to generate a profit after all costs are taken into account. Why do we start here? Because if the idea doesn’t generate a profit, it’s a hobby. That’s fine if you want a hobby, but if you want to make wages (plus some for the effort) you need to know it is potentially viable before you invest too much time and money.
We start by focusing on the right questions – and stage our support so that you have time to find the answers.Then we start writing. The final plan is a tight proposition that a bank or investor will understand, and gives you both direction and strategy to go and make it happen.