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GrowthPath business plans unlock the funding needed to reach the potential of your business. Our plans provide a credible roadmap for growth by connecting market and competitor analysis with your points of difference. We integrate this with a powerful financial model.
This approach is a proven choice if you're looking to sell your business, raise funds for expansion or understand the best options for growth.
GrowthPath's plans are tailored consulting projects. They are not off-the-rack template solutions; this service is a consulting service delivered by experienced CFOs who know how to translate business potential into investment opportunities.
What's included in a GrowthPath Business Plan
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Market and industry research
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Competitor analysis
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Scenario-based financial model
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Forward-looking financial statements
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Risk and contingency planning
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Optional web-ready video and animations
Recent plans:
- Two online retailers
- Medical service
- Small-parcel Logistics business
- Hybrid online/physical intermediary
Four points where Business Plans must convince
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Credibility: market and competitor analysis, risks and realism
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Upside: Focusing on growth potential and revenue models
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Business valuation: Calculations based on scenario-based cashflow projections allowing comparable outcomes
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Sustainable advantage: Showing how the business idea is different to competitors
What you need to know about winning business plans (The Business Plan FAQ)
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The four main audiences and reasons for a business plan.
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Why me-too “fill-in-the-blank” business plans are a waste of time
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How business plans convince investors
There are four main business plan audiences
A business plan needs to be written for the correct audience, because each audience is persuaded by different approaches.
The four main audiences and reasons for a business plan are:
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Investors: To raise funds to take advantage of a business opportunity (or to sell the business)
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Lenders: to raise funds to grow the business (cashflow or capital investment)
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Government or industry body: To win a necessary business licence, permit or grant
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Owner and senior management: To define business goals and build a path to reach them
A strong business plan is targeted at the main audience.
Successful business plans...
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Use credible market analysis and explain a point of difference with reference to real competitors
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Build on the point of difference to show barriers to entry making the idea hard to copy
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Clearly explain the business engine: how revenues are made, and what drives variable costs and overheads
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Are upfront about assumptions, and use scenarios to explore the financial impact of assumptions
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Demonstrate risks and cover Plan Bs
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Link the story to a strong financial forecast, with cashflow at the heart, and a business valuation as the most important conclusion.
At GrowthPath, we develop the forecast model simultaneously with the business plan. The model teases out the key assumptions, barriers to entry and drivers of cash-flow, and the plan drives insights into the costs, market size, SWOT and competitor positions. Developed together, these two components fuse to a strong, powerful and inspiring plan. It's the Integrated Valuation and Narrative Business Plan.
The risks of “fill in the blank” approaches
Differentiation is the key to sustainable growth. Don't obscure this with me-too business plans
One of the core messages of a business plan is how you are different from competitors. This is a difficult point to win if you're using a cookie-cutter approach. Business plans where you fill in the blanks will be as useful as fill-in-the-blank resumes. If you think your business ideas would benefit from a tailored approach by an expert practitioner, you may like to learn more about GrowthPath's approach. The difference will be clear to experienced readers ... and remember, you may not see business plans very often, but most of your target audiences see them all the time. A business plan tailored to your situation will jump out.
Convincing
Audience: Investors
Investors, key staff and potential recruits are looking for reasons to believe. They have money or skills that can move around.
You get their respect with credibility.
You win them with the upside potential. Upside potential comes from:
(a) a genuine market opportunity
(b) a sizeable, or growing target market
(c) clearly established or buildable difference to competitors
(d) ownership of barriers that make it hard for competitors to copy you
(e) Show how the money injected by the investors and the skills of key staff will make a real difference to the chance of success (telling investors that their funds go to working capital is not very stimulating)
The business plan narrative (or "story") needs to take the investors through the five points above.
Audience: Lenders (Banks)
Lenders are conservative, because they don't participate in upside. In Australia, there is little chance for small businesses to escape providing security, usually real-estate. However, there are opportunities to fund growth with trade finance, and companies with a track record can borrow against projected cash flows ... if credibility allows. Lenders are looking for the presence of good cash flow forecasts, good reporting, good business controls and a credible finance presence either in the business or close to the business. A strong, scenario-based cashflow model is at the heart of the IVN approach. The narrative for this type of plan emphasizes risk management, internal controls and operational capabilities.
