Business planning – some thoughts in retrospect
In December 2003 I had a conversation with the senior partner of the firm I was working with about whether there was enough work for him to be able to keep me on staff in a full time capacity. Part time was possible but not what I wanted so we opted to part company. I had an idea of what the future might look like for me. I had decided to become self employed !
It wasn’t so hard a decision at that point as a friend who had created a programme with Morgan Stanley to get “harder to reach” people into work needed a Scottish representative and that was me. So in January 2004 I stepped out with my new hat on.
That project lasted for 9 months and taking the skills and experience gained forward I was challenged to write a business plan. Here in the UK new businesses can access help from local government backed organisations and at that time grants for computers were also available. A Business Plan was a requirement for the grant though so I set to it.
What kind of work was I going to do? Who would my clients be? What fee rates would I charge? On my own or in partnership/collaboration? How would I market it? What resources did I have/need? What about legal issues, insurance, tax and National Insurance? So many questions . I did the best that I could but I felt that in creating something new I didn’t have the answers until I tried things. I know that that is not a very commercial way to set up a business – I am married to an accountant so there was no hiding place!
Anyway jump forward 5 years ( 5 years – I can’t believe it) and I look back at the journey. I set out with the mission
To work with others to make a difference.
…and that is what I have done. I veered away from the corporate world which I had inhabited for all of my working life until then and worked with a variety of clients in all sorts of new and interesting areas – charities, in schools, colleges, universities, voluntary groups, public sector agencies, central government departments, with small business owners. I got involved with projects that interested me and took opportunities as and when they came up.
I have learned loads – about myself and the big world out there.
It has been demanding but often fun. I have made great new friends in business and collaborated with people whose work I admire.
And I am thinking – what kind of business plan would that have looked like? Thankfully I never had to take it to the bank manager to look for finance ……
If you have any hints and tips for writing a business plan please share. I might have to think about it again in the future. Do you think the bank would consider a mind map???
Nov 28, 2008
? Banks aren’t lending!
But getting started can be difficult for “necessity entrepreneurs”.
Getting people to take the first step is essential and I don’t think business planning is it. That is usually procrastination.
I would rather get them to walk with me down the High Street and have them show me their desired customers. Then I can walk up to the customer, start a conversation and get them their first assignment, however small!
I think I may give you a ring about a potential project for supporting people who are looking for work full time or freelance??
Nov 28, 2008
Jo – here was me thinking that my way was the wrong way and you show me how I was actually on the right track. Would love to hear about your idea!