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Doing a Business Plan? Avoid Information Overload

Whilst doing some research for a client on business plans I am amazed to discover the variety of reasons and the quality of plans that companies are looking for. The main reason seems to be because the banks demand it and expect about 30-40 pages.

Don't overload a business plan!

A business plan should be a workable and flexible document that can be updated on a regular basis. The temptation is to populate it with ‘guff’ so it looks like you have done a lot of work.  If you have a bank loan/overdraft of course they will be interested in the viability of the company but filling the plan with unnecessary information will lead the plan to being too big and unyielding to work with.

The aim must be to keep the plan succinct and my suggestion is for reference documents and back up information such as cash flows, graphs and so on to be attached as addendums. These are then easy to replace when updates are needed. Graphs and pictures can say far more than words.

More Information

Amanda Jones, Managing Director, HFZ Consulting Ltd, Tel. 0773089043

E-mail:[email protected] Web:www.hfzconsulting.co.uk


 

Posted on: 27/02/2014 5:06pm

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