Of course every business varies according to the need for a business plan, but for many start-ups or existing businesses looking to raise funds the summer months provides an opportunity to prepare. Why is the holiday season a good time for preparation ? Well, for many businesses the summer period means a tail off in business activity and the taking of annual leave.
For prospective start-ups this provides the opportunity to bring your ideas together outside the pressure of your existing work environment - step back from the day to day grind and plan your way ahead. We have many people coming to us who, under pressure of work, need help in putting a plan together. This is a chance to consider, evaluate and assess the feasibility of your ideas.
For existing businesses this time is also valuable to review an existing business plan, measure progress against it and examine potential future strategies. So often, this is difficult in the heat of "doing business" - take a little time now to gain perspective and re-orientate.
But perhaps the most important reason for developing your plan now is timing. For businesses looking to raise funds this is a quiet time of year. Many potential investors are enjoying the fruits of their labours abroad and are taking time out from reviewing investment opportunities. This applies as much to investor networks, VC funds as well as individual High Net Worth (HNW) investors. In my experience the investment community slows to a crawl before coming to life again in mid September and October.
So, whether you are a start-up or existing business, now is the ideal time to get your business plan and pitch documents together, re-work the presentations and get everything ready for the Autumn.
Good Luck !
The Business Plan Team
- Jon Hunt is the Lead Consultant for The Business Plan Team which works with entrepreneurs, start-ups and growing businesses that need help developing a professional business plan to secure funding and guide internal management. It has developed business plans for a wide range of businesses and corporate clients looking to raise funding of between £50,000 and £200million in many different industry sectors including Social Media, Retail, Construction, Mining, Renewable Energy, Technology, Healthcare, Interior Design, Sport & Leisure, Investment Banking, Wealth Management and Trading. Testimonials from these clients illustrate the high levels of service TBPT provides.