Once a barometer check has been carried out on how a business is performing in the "here-and-now" and major challenges have been identified for the management team, it is then time to address the goals of the business in a 3 or 5-year time frame. A business plan is needed to addresses where a business wants to go and most importantly, how to get there.
Formal business planning is often ignored in smaller businesses until external investment is required or when a business loan is needed from a financial institution. The key imperative of any business plan should not be just to attract finance. Rather it should be a mechanism for the management team to develop a roadmap for achieving common goals for the business. It should show clarity of purpose, involve all staff to some degree and create a common goal for all stakeholders.
Many small companies do not know where to start in preparing a business plan or what it needs to contain. Prism Management Services Ltd. has a number of proprietary tools that allows it to quickly put together a comprehensive business plan, regardless of industry, which will not only satisfy potential external investors and financial institutions but will also serve as a clear statement of intent for both management and staff.
Health Plan involves working with client management teams to develop coherent and well thought-out 3/5 year strategic business plans, which embrace every element of the business; the how, the whom, the when, the why, and the where. It forms a master plan for taking the organisation forward to the next stage in its development cycle. It asks and forces participants to answer all of the hard questions.
Health Plan usually commences with a full day one-to-one with the chief executive and a two-day workshop with the senior management team. In smaller organisations this time frame can be truncated. It is advisable to involve appropriate line staff, throughout the process that follows. The plan is then put together over a several week period in consultation with the senior management team. The resultant plan is a living and changing roadmap that constantly takes account of changing market, environmental and company issues. Key performance indicators are identified which allows the management team to measure performance against budget on an ongoing basis.
Health Plan can be availed of as a once-off tool to create a comprehensive business plan or it can incorporate a retainer for ongoing advice one or two days per month.
