We all enter business with an idea and from that Plan A grows. It’s the idea you’ve thought of, developed and marketed from day one. You’ve built your cash-flow projections, opened your bank account and had a website written.
You’re good to go and then things change so you adapt the Plan but ultimately it’s still Plan A.
Have you considered Plan B ever? What is your Plan B?
Let’s look at Plan B:
You love upcycling furniture and start doing it in your garage, selling the pieces you work on and turn a decent profit. After a year the garage becomes too small so you move to a small industrial unit. The rent is reasonable, it’s not too far away from home but it’s not quite right for you to build and develop the business to earn you more money and turn a better profit.
Plan A is to move to a bigger unit, to employ staff to help you with the upcycling but really to afford to move to this bigger unit you need to find another sales avenue and with that comes more and more decisions to be made. Do you set up an e-commerce site, do you take on commission pieces only that sell at a higher price? All of those options are going to need some planning – you’ll need to do a new business plan, cash-flow projection and possibly apply for lending to achieve that growth.
Or do you look at Plan B?
Deep down you’ve really wanted to open a coffee shop with a section to showcase the upcycled furniture for sale. Basically two streams of income harnessing both of your dreams and passions. Will this work? Can you really follow your dream? You’ve been making enough money just upcycling furniture. DARE you follow your dream? Can I? Should I?
Well, you won’t know unless you explore all options, including Plan B.
How can we at SeaMount Business Services Ltd help with your plans?
Our Financial Management Service can help you:
- Produce cash-flow projections
- Produce sales forecasts
- Writing or re-writing business plans
- Advise on financial process and systems
- Assist in the recruitment of the right team
Whatever plan you follow, you can only make the best decisions with the right information before you; and with us working with you we can help you achieve not only your dream but also your passion.
Contact us HERE for more information.