Holiday plans  

  • Posted by: Michael Winkelmann
Holiday Plans | Business Planning | Business Income Planning

Most people spend more time planning their holiday than their business!

Just imagine how much time you spend planning a week or two of fun compared to your future income.

How much will it all cost? – How much do you need to invest in your business in order to generate the income that you want and need?

Where will you go? – What is your final destination and how will you know when you’ve got there? Would you like a comfortable income with a good work – life balance or are you planning world domination?

How will you get there? – Will you be selling to other businesses or direct to individuals? Will you buy in bulk or provide a bespoke product? Will you offer high quality or low prices?

Who will you invite to come on the trip with you?  – Will you have a team of people to work with you or will you go it alone? What skills do you need on your team?

Will you take any extra excursions? – Will you focus on one product, service, or market or do you plan to diversify?

When will you go and how long will it all take? – What are your timescales? Will your business grow slowly but surely or will you seek investment for more rapid growth?

When does everything need to be paid for? – You often need to pay out for things before you receive income so plan you much cash you will need to cover this timing difference. (And don’t forget how long it takes to get some people to pay for their share.)

There are all sorts of other questions that we ask when preparing business plans and cashflow forecasts for your new business. Also for growing businesses. We want you to have the best chance of reaching your personal and business goals so it’s good to put in some thought early on to maximise your chances of success. We’ll discuss your plans with you, put some numbers to them to show you what’s possible, and even help you to access loans or other finance if you need it.