Are Business plans and Cashflow forecasts essential ?

MSC · #11 (**permalink**) 11-04-2008, 16:27

[quote=Fuzzy;27333]

Quote:

Originally Posted by MSC

Fuzzy I am guessing you are reluctant to sit down and spend the time doing it as you see it as a waste of time, and I know that feeling quote]
Noooo

, I have done mine - yonks ago, this thread was just for newbies

Oh no, I hope I haven't offended you

I am the first to say I found the idea of a busines splan B-O-R-I-N-G and really kept putting it off.

Fuzzy · #12 (**permalink**) 11-04-2008, 16:31

[quote=MSC;27354]

Quote:

Originally Posted by Fuzzy

Oh no, I hope I haven't offended you

I am the first to say I found the idea of a busines splan B-O-R-I-N-G and really kept putting it off.

Don't be daft

Business plans are boring..

, but essential

Andy Trish · #13 (**permalink**) 11-04-2008, 18:32

I would disagree, don't have a written business plan myself and grown from 1 to 18 people in 4 years.

my business plan is in my head, I know where I want to go and how to get there.

cashflow on the other hand is critical, you need to know where you stand financially every step of the way

Fuzzy · #14 (**permalink**) 11-04-2008, 18:45

Quote:

Originally Posted by Andy Trish

I would disagree, don't have a written business plan myself

I didn't say written Trishy

Andy Trish · #15 (**permalink**) 11-04-2008, 19:04

I'm beginning to feel unloved :sad1:

Fuzzy · #16 (**permalink**) 11-04-2008, 19:05

Quote:

Originally Posted by Andy Trish

I'm beginning to feel unloved :sad1:

Oh Trishy, I'm sure your wife wouldn't mind me giving you a Fuzzy hug, come here

(just don't tell Simon

), now, wassup ?

Inzvestor · #17 (**permalink**) 11-04-2008, 19:17

Quote:

Originally Posted by Maxine

...I do think though that it is easy to spend ages going over the top on business plans ... and spend more time doing this than going out and getting business! ...

There is a fine line between going over the top and being properly resourced and having prepared a great plan. You'll find holes once the volume starts coming in as a result of sales campaigns.

Many businesses fall over because they are too good at marketing and not good enough at planning.

An Oasis · #18 (**permalink**) 11-04-2008, 21:03

Quote:

Originally Posted by Fuzzy

I didn't say written Trishy

I think that whilst boring and you just want to get on with it. Actually writing things down CFF, PLF's are without doubt very useful. I know a lot of people toss them into some dark place and never view them again but over the years I have found that there are useful bits of info there.

The key is in the future vision held within, e.g. future progress and how it will happen. If the plan is good you will have had a good insight into to what is achievable and know that your thoughts were right. If not, at least you can mentally backtrack and work out where the errors were. There are jewels to dig for and lessons to learn.