In the previous Governance post I talked about the basics required to establish a Trust or other Non-Profit. Things like Trust Deeds which contain the Organisation’s Rules and Legal Purpose, Mission Statement, Policies and Procedures.
In this post we move on to the Business aspect of the Organisation – where the first necessity is a Business Plan. We use a templates provided by MBIE on their website which contains everything an auditor or inspector from IRD, Investors or other stakeholders will want to see when assessing your credibility. It will also serve as a guide for your Governing Body, Management and Staff as they go about their duties.
This is another area in which many small non-profit organizations have room for improvement. Some have no Business Plan at all – others have a “Business Plan” consisting of only five or six pages and is little more than a setting out of broad goals.
The MBIE Business Plan consists of around 30 pages. Rather than work from start to finish in completing you Business Plan, I find it helpful to set the blank pages out on a wall – much like a “mood board”. Each page is headed with its name as per the “Table of Contents” and ideas which come at random can be noted or attached using “Post It” messages as and when they come.
The Business Plan should contain the following sections which should all be noted in the Table of Contents:
- The Front Page of Cover Page. This should contain graphics or photos as well as the title “Business Plan”, the name of the Organisation, the date of publication and the author. Write or sketch ideas on this sheet and attach clippings of suggested photos and fonts etc.
- The Contents Page and page numbers. The Contents are the Sections we are listing here. Leave the page numbers until the Plan is finalized as some Sections might take more than one page.
- The Executive Summary. Do this last – it is a Summary of the Business Plan and tells the reader what is inside. It also explains the purpose of the Document and the uses it will have in the various stages of Business Development.
- Business Details. Legal name, trading name, date established, structure (partnership, Company, Non-Profit), NZ Business Number if Registered, Contact Details, Social Media links.
- The Purpose or Nature of the business. What you will do. A brief explanation of how you will do it (your full Strategy will be more set out later). Who is your product or service aimed at? Is anyone else doing it and how is your business better or different?
- Your Business History. Is it a new business or has it evolved from a previous enterprise. Give a timeline or provide highlights if this is the case. What was the inspiration if a new enterprise.
- Your Situation at present. Do you have locations, customers, employees, assets, intellectual property, resources. Do you have funds – if so provide balances and details. Provide a short overview narrative.
- Your Mission or Purpose as per your Trust Deeds but more fully explained. Your Broad or Long- Term Goals spelt out as Outcomes. Your SMART, short-term goals (Specific, Measurable, Achievable, Realistic & Time-bound) set out in relation to each Broad Goal – each with target dates and accountabilities.
- Your Strategy in relation to each of your Broad Goals including Key Steps and actions. Your Strategy required to achieve your SMART goals. You might want to set out these steps and completion dates using a Project Management progress chart.
- Your Existing Team. Provide Organisational Chart. Include brief bios explaining experience and qualifications. Provide proposed Job titles and responsibilities. Provide Job Descriptions if available. Provide Job Descriptions for Roles not yet filled.
- Your planned team. Relate to Organisational Chart again – list all Roles planned showing accountabilities and relationships.
- Your consultants, advisers, mentors and other external advisers. Give planned Role Titles and responsibilities.
- Your Employment related Policies and Procedures ie Engagement, Retention, Induction, Training etc.
- Market Research – demonstrate knowledge of the relative markets and trends.
- Identify Market Gaps or Opportunities. Where are uour opportunities?.
- Market Structure and Positioning. Where do you sit or where are you aiming to be.?
- Target Market – size, demographics etc.
- Marketing Analysis – prospective customer base – what are their current mindsets and behaviors?
- Competitor Analysis – name each competitor and provide SWOT for each. How will your product or service differ?
- Complete SWOT in relation to your internal processes, culture, and relationships.
- Complete SWOT in relation to external forces ie regulatory limitations, environmental considerations, community views etc.
- Marketing Plan and Budget. Attach.
- Launch or Relaunch Strategy and budget. Attach.
- Ongoing marketing strategy and budget. Attach.
- List of Assets including Intellectual Property.
- Financial Planning – years 1,2 and 3.
- Break-even forecast and date
- Cash flow and Balance Sheet forecasts first 5 years
- Business Continuity Planning. List potential risks and challenges and how you will overcome these.
- Legal and Regulatory Planning. List the compliances you will need to address.
This is a broad outline of a full Business Plan. If you are just starting out you might not need all of them at once. List your priorities and complete the Plan over time. The fact that you have a concrete plan for you Business Plan will, in itself, give you brownie points. Good Luck!