Make a plan: get your business 2020 ready

Date: 29th January 2020

2020 has a nice ring to it – it sounds like a year when goals can really be achieved. Maybe it’s the year you’ll take the plunge on a business idea that’s been floating around for awhile; or maybe you’re going to knuckle down and take your existing venture to a new level. Either way, there’s one thing you’ll need: a business plan. 

managers discussing business plan

A plan makes all the difference

Even when a business owner can articulate their business inside and out, having a plan compiled into a single, concise document is invaluable – especially when it comes to investment. A business plan makes us think carefully about all aspects of our business, which can lead to some surprising and unexpected discoveries along the way.

What’s in a plan?

Your business plan could include:

  • Business goals/objectives and position;
  • Products, services and suppliers;
  • Legal considerations;
  • SWOT analysis (strengths, weaknesses, opportunities and threats);
  • Strategic direction;
  • Risk management (risk assessment and succession planning);
  • Competitor analysis;
  • Customer management (e.g. target demographic and customer acquisition);
  • Marketing strategies;
  • Assets, equipment and stock;
  • Intellectual property and insurance;
  • Financial analysis;
  • Human resources.

This is by no means an exhaustive list, and there is no ‘right’ format for a business plan. It should be customised to suit your business specifically. There are lots of online templates available – we particularly like the ANZ Business Planning Template.  

We also rate these guides:

How To Create The Perfect Business Plan In 10 Steps (Xero)

How To Write A Business Plan (business.govt.nz) 

Local Industries

In population, the Queenstown Lakes area is one of the fastest growing regions in New Zealand, which means business growth is rapidly increasing as a direct result. All the more reason to have a solid business plan; it will help to make your business a competitive leader in your industry and ensure you can accommodate customer demand as needed. We’ll elaborate a little more on how a plan can help our local key industries:

Trades

A business plan might sound a bit too ‘corporate’ for some tradies, but put the white collar jargon aside. Construction is a fast-growing industry in Wanaka, particularly for new start-ups and one-man-bands so there’s a fair amount of competition when it comes to winning work. A business plan helps you clarify what makes your business different – and how to communicate that to potential clients – so you can gain the upper hand when tendering for jobs.

Hospitality & tourism

If there’s one constant factor in the hospitality and tourism industries, it’s people management. Both customers and employees are critical to business success. A business plan will ensure you have covered these aspects across the customer management and human resources sections to keep your business ticking along smoothly. 

Help is on hand

If you’re handy on the tools but written word isn’t your thing, you’re not alone. Fortunately Findlay Sidekick is here to help.  We can undertake a comprehensive business plan with you cover:

  • Discussing and setting both personal and business goals for the next 12 months
  • Discussing and agreeing on an action plan with strategies to support achievement of goals
  • Identifying Gross Revenue Targets and Key Performance Indicators
  • Identifying opportunities and vulnerabilities in your business that need to be managed
  • Establishing a 90 Day Action Plan to address immediate critical issues.

To enquire more about this service,  contact Andrea at andrea@findco.co.nz

Other supportive organisations include:

Ignite Wanaka is a membership based organisation, run by the Chamber of Commerce. Ignite Wanaka hosts events, training and networking opportunities for businesses and is a great way to feel connected and inspired within the local business community.

Startup Queenstown Lakes is an organisation supporting and guiding new local businesses to success, including mentorship, resources, training and connections.

Make a start

If a business plan seems like a daunting prospect, don’t feel pressure to get it finished in one sitting! Just make a start, tackle it in manageable sections and most importantly, take your time to really consider the content. 

To be successful, a business plan should be reflected on regularly. If you can, make a time to review the key milestones in your business plan monthly and talk to us about how we can help.

Good luck – we wish you a positive and productive 2020! 



Posted in: business strategy, Latest News, small business, Wanaka