Business Planning Video
Watch the business planning video for a humorous, fictional take on how having a business plan (and a grandma) help Albert become a lemonade magnate.
Having a detailed business plan is very important. It not only provides a roadmap for business success but is also essential to attract funding.
Albert’s business plan helped him to:
- learn about his industry, market and competitors
- write down exactly where he was in the market and where he was headed
- identify challenges he may come across and work out strategies to avoid or overcome them
- understand business finances, including managing cash-flow and determining your break-even
- set specific goals, timeframes for achieving them and how he’ll measure performance
- make sound business decisions that focus his activities, maximise his resources and give him a competitive edge
Source: business.gov.au, the Australian Government’s dedicated business website.