Business Plan – 5 Points to Get It Right


♪ Pump it up ♪ ♪ When you don’t really need ♪
(dog barking) ♪ Pump it up ♪ ♪ Until you can feel it ♪ (air puffing) (claps) – Hello everybody, okay. (Mahmood laughing) – So, for those of you who don’t know my name’s Serena. – My name is Mahmood. – [Both] And we’re the
Business Rock Stars. – Okay, so if you want
to be more like Scampi, ’cause he’s chillaxed because
he’s got everything prepared. So, with regards to this, business plans: five
important things to remember. Mahmood’s gonna go through
these five steps with you. – Thank you very much Serena, thank you very much CEO Scampi. So I want to just give a quick
five things to think about when you’re putting a plan together. Plan’s absolutely critical for
the success of your business. Step number one, think about your vision, your values and your mission statement. Your mission statement
is your calling card to the outside world. From that derive and
generate your objectives and your critical success factors. Now, objectives are more
specific and measurable, they’re not goals, so it could be: “I’m gonna grow turnover by 10% next year. “And what do I need to do, “and get right, to make that happen?” The third thing is your marketing plan. Now marketing is not the same as “How do I execute my social media plan?”. It’s part of it, it’s about the pricing, it’s about the product, it’s
about the promotion as well. The fourth thing, having
put all that together, translate that into
the financial outcomes. What does it look like? What’s the shape of that
in terms of cashflows? What’s the shape of that
in terms of profitability? What’s the relevant metrics that I’m gonna use to actually look at? Number five, an element that’s
not always adhered to is: “How do I know I’m
actually achieving the plan “that I’ve set out? “What’s my monitoring system? “I need to be able to monitor,
I need to be able to measure, “I need to be able to react “to what those measures
are actually showing, “I then need to put it right to make sure “that I’m on the right
steps to achieving success.” Hopefully you found that useful. – Okay guys, so come on. Like us on Facebook, LinkedIn et cetera, we know that you’re liking
these moves on a Monday. All right? So head over to the
website, read our blog. We’ve got more information
on this important topic. – Thank you very much,
hope you’ve enjoyed this. – In the meantime, turn your planning frowns. – Into smiles. – Ciao.
– Ciao. (upbeat music)

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