Business plan nightmare

[Cloverst]

I have to write a business plan for next week. I'm meeting a business advisor and they are always keen on them. I've done a course on planning some years back now but I am having the worst nightmare atm.

I have to do sales forcasts and the thought comes into my head that how on earth do you forecast right at the beginning? I'm sure there is a proper formula to apply but to me it is just tantamount to pulling figures out of the air.

Has anyone been through this and how did you get over it?

It's not even like I'm relying on it to raise funding either...

[euston-74]

I know this is rather unhelpful, but when I did mine I did just pluck figures out of the air! I've never come across a formula as such. But what I had seemed to go down OK with my bank manager.
If you are not going for funding I wouldn't worry about it - it's just to give a sense of potential after all - no one is going to hold you to it.
I took the view of 'if I have x customers and they spend x amount each...' and took it from there.
Good luck, it's not the most pleasant experience is it?
Mel

[Cloverst]

ROFL!!

I must admit the though had crossed my mind!

What I'd like to know is have the actual figures been close? If so then I hope my guesses are as good!

And yes it's got to be up there with being naked in public and having your teeth pulled without anesthetic!!

[Seahorse]

I dont usually watch it but saw Dragons Den last night, and I paid attention(tried to) to all the business talk.

They mentioned business plans and it did seem they were just estimating figures based on what they had already sold ie if they made £100 in the first years then youl make £200 the next etc.

[euston-74]

Seeing as you ask - nope, the figures have been nothing like close in the first year! But by the time I knew that I'd used the business plan to set up all I needed!
Mel

[swirlyarts]

My friend had to do a business plan for her business last year and I think she used an online site to help her - I'll email her and ask!

[swirlyarts]

Hiya,
She looked at the federation of small businesses and on business link too. She did look at more but now can't remember what they are as it was ages ago!!
Heres the link for fsb http://www.fsb.org.uk/
Hope this helps
Lynsey

[Cloverst]

Thats great ta swirly!

In the end I chose the following method: (just incase anyones interested!)

Figure out how much work the business needs to do to cover ite running costs.

Figure out what the business could make at full capability.

Write in the business plan that an aim is to get to 50% capacity in the first year and plan sales to go from 0 to 50% in the first year.



Not the bast way I know but I figured if I have figures to back up the plan it will make it stronger! Anyways I'm in with a business advisor next weds to see what options there are for test trading. I'm on disablement benefit and want to get back into employment, I can't take a traditional job as employment is not flexible enough and to loose money whilst starting up would bankrupt us.