Have you got a business plan?

Last chance!

March is the last chance dash to one-up your performance from last financial year. What are you doing about it? Do you have a business plan in order for the upcoming financial year? In other, relatively boring, news for you; the accountant’s D-Day is looming as we’re now into the month of March. It’s a bit of a tidy-up month for us while we make sure all tax returns are filed with IRD. This in mind, it would be a great help if you could please return any accounts queries as soon as possible. Thanks in advance!

Xero Tip #354912

Xero is just your accounting system. Right? It is and it isn’t. Accounting systems have come a long way and while there’s a hell of a lot Xero can do for you, one of the best advances is the ability for your accounting system to integrate with other systems.

Like Xero, there’s a ton of like-minded business developing software to help you better manage your pain-points. There’s also established software providers developing their own tools to ensure they are compatible with Xero.

Consider your current systems, or pain-points, and have a look at what’s available as potential improvements here.

A business plan

You’ve likely all heard the anecdote “failing to plan is planning to fail”. Failing is never something you plan on targeting, but often the planning itself can be a task easier avoided.
We’ve seen business plans that would rival an encyclopedia, and others that fit on one page – it’s a little down to personal preference. The important thing is that you do it, and use it.

The bare essentials of a good plan are:

1. Executive Summary – Your elevator pitch. Who, what, and your goals.
2. Target Market – Who are they, what are they like?
3. Opportunities – What is your growth plan and your scope?
4. Competition – Who are they? Your U.S.P.
5. Financial Plan – What are the numbers?

Regardless of where you are in business; take a moment to consider the above. If you think you’re stuck and need help with a bit of a business plan, get in touch with us!

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Your Outside team, and Ruby