Now that you have a good solid business plan – what do you do with it?

Step 3
You implement it!

Do you need capital or investors? Then take your business plan and transform it into something you can present to your potential investors or bank.

Click here to download a business plan template that will assist you in putting this document together.

Brush up on your presentation skills and get friends, family, colleagues or a test group to listen and ask all the questions they can think of. This way you will be more prepared and ready for any possible questions that might be fired your way. Once you have done the prep you are ready to present your plan for real.

Just remember to breath, stay focused and show to the person/persons you are presenting to that this is your passion, that you are well prepared and that you believe in your concept and that it will work!

If you are asked a question that you might not have prepared for and don’t know the answer to, DO NOT STRESS!

Just acknowledge the question, state that it is a good question and that you have not yet considered it. Write the question down, so you don’t forget. Inform the group or person that you will follow up with them, with an email or during your next meeting. Give a timeframe (be realistic) and stick to your commitment.

If you have your own money to invest then be sure that you account for every cent you put in. This will reflect as a loan account as the business will owe you the money. (Keep all the paperwork as proof of the loan) You will be able to recoup this later when your business is flourishing and is able to pay the money back.

Get an excellent bookkeeper from the start!

Your bookkeeper is your friend and is there to assist you in growing your business and keeping you informed of the health of your business. They are also there to give advice and keep you on the straight and narrow. I have found many owners of businesses think they don’t have the money to spend on bookkeeping and that they can do it themselves, BUT life happens and before they know it month or years have gone by and SARS is knocking on the door. Investing in keeping your bookkeeping up to date will save you much frustration later. Not to mention cost.

Playing catch-up is always costlier and very stressful. My advice is get your bookkeeper involved from the start.

We give a monthly service, you get your management accounts monthly and you will be able to rest knowing that your returns are submitted on time and if you do get a call from SARS then there will be no issues to worry about.