Episode 21: Business Plans
May 31, 2021
Have you been told that you should have a business plan but never known where to start? In this episode Sarah & Trudi discuss what a business plan is and why you should have one.
Regular listeners will know that Sarah is a big advocate for the business planning process and this is a big element of her work in Helix Planning. In this episode, she talks about her preferred approach when working with Helix Planning clients and the use of a more modern flexible business plan, one that is not always written down and is reflected in behaviours and habits. Trudi reflects on the more traditional style of business plans – written documents with standard sections covering all aspects of your business.
While there are different methods, Sarah and Trudi do agree on the importance of having a business plan (in whatever format works best for you) and making use of that plan – rather than writing it and then leaving it on a shelf! They discuss what can be included in a business plan and that some businesses include everything in one plan while others may separate out aspects such as a financial budget or marketing plan as separate processes.
They also point to some handy templates available (Helix and business.gov.au}. And if you’re still not sure how to do your business plan, then jump to where Trudi and Sarah run through an example of what a fidget spinner (Sarah didn’t like Trudi’s suggested “widget”) business might consider in preparing their business plan. Hopefully this episode with inspire you to dust off (or start) your business plan and make it an ongoing part of your business.
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Just two industry experts (and guests) having a friendly chat and sharing our knowledge. We aim to raise your knowledge base and dis-spell any myths surrounding finance. tax and a range of other financial topics.
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