Guide to Writing a Business Plan - abmnetwork.com.auabmnetwork.com.au/resources/Business Plan...
Transcript of Guide to Writing a Business Plan - abmnetwork.com.auabmnetwork.com.au/resources/Business Plan...
Table of Contents
1. BUSINESS OVERVIEW............................................................................................................ 3
Vision..............................................................................................................................3
Mission Statement..........................................................................................................3
Our Values.......................................................................................................................3
Our Clients......................................................................................................................3
Our Workforce................................................................................................................4
2. PRODUCTS/SERVICES............................................................................................................4
Membership....................................................................................................................4
Training Products............................................................................................................4
Consultancy Services.......................................................................................................5
HR Management.............................................................................................................5
Marketing........................................................................................................................5
Quality Auditing..............................................................................................................5
Small Business Advisory Service......................................................................................6
PRICING STRUCTURE................................................................................................................. 6
3. MARKET ANALYSIS................................................................................................................. 7
4. COMPETITION.......................................................................................................................... 7
5. MARKETING STRATEGY........................................................................................................7
Branding..........................................................................................................................7
Promotional Strategies....................................................................................................7
Communication with Members.......................................................................................8
Advertising strategies......................................................................................................8
6. BUSINESS STRUCTURE AND MANAGEMENT..................................................................8
ABMN ORGANISATIONAL CHART...........................................................................................9
7. FINANCES................................................................................................................................... 10
ABMN Budget 2013.........................................................................................................10
8. ACTION PLAN........................................................................................................................... 11
APPENDIX I: COMPETITOR ANALYSIS..................................................................................12
APPENDIX II: STRATEGIC SWOT ANALYSIS........................................................................13
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1. Business OverviewSince it was established in 2004, the Australian Business and Management Network (ABMN) has grown from a modest business network of 22 business professionals to become one of the largest networking communities in Australia, with more than 2,500 members. ABMN has consistently embraced change in a constantly evolving business environment, but has kept the same goals: to provide members with opportunities to expand their network and to share information and knowledge.
While face-to-face networking remains at the heart of ABMN’s business philosophy and practice, ABMN has embraced technology and online mediums enabling members to engage with the ABMN community.
As well as offering its members opportunities for professional development through networking activities, events and seminars, ABMN has recognised the need for the ongoing skill development of its members. Over time ABMN has introduced a range of training products designed to ensure its members and non-members stay current and informed on new and emerging practices in their profession.
ABMN also provides reliable and expert support and advice in Human Resources (HR), Marketing, Quality Auditing (QA) and Small Business, to assist members and clientele in achieving their professional and business goals. ABMN employs experts from a range of professions and industries, handpicked to ensure that members and clientele are given the very best advice and support.
VisionSetting the global standard for business excellence and innovation.
Mission StatementTo be integral to the business success of ABMN members through the provision of exceptional services, support and advice.
Our ValuesIntegrity: in everything we say and do.Innovation: to pioneer and revolutionise.Best practice: setting the industry standard.Excellence: in member services, knowledge and advice.Leadership: fostering industry leaders.
Our ClientsABMN attracts members and clientele from all industry types and business sizes – from small, family-owned business to large corporate with over one thousand staff. We appeal to all age groups and have attracted men and women who are starting up their first business, as well as individuals and businesses working in large corporations. ABMN also attracts non-members who require occasional training, support and advice.
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Our Workforce ABMN is an employer of choice, offering many benefits to its staff, including flexible working hours, working from home and generous leave provisions. Head Office is located in the heart of Melbourne’s CBD - at the pulse of business - providing ready availability to our corporate and city-based clientele. ABMN staff are located at Head Office, with around 85% of the team working from their home-based office. ABMN also employs staff from all over the world. In common, all ABMN recruits are experts in their field with outstanding skills and talents. The organisational structure enables staff to diversify providing a flexible and reliable workforce.
2. Products/Services For over 10 years, ABMN has developed a suite of products designed to meet the needs of its members. The reason for our long term success is simple - we meet our members’ needs cost effectively. Below are some of the products and services that ABMN provide.
MembershipABMN offers two levels of membership: Individual and Corporate. Aside from having access to one of the largest networking communities in Australia, membership offers a range of other benefits, such as free and discounted training, support and advice, as well as access to ABMN’s exclusive monthly eNewsletter and eBulletin, providing insight into new and emerging professional and business practices.
Training ProductsABMN offers both face- to-face and online training products, designed to meet the needs of busy professionals. One-day, face- to-face training services are provided at the Melbourne and Sydney offices and some other locations. The focus of training is on providing essential and specialised skills to professionals, as well as introductory knowledge on various operational aspects of a business. Webinars run for approximately two hours, and are designed to ensure participants stay current and informed on trends and emerging practices in their profession.
ABMN currently positions its training products for two distinct markets:
ProfessionalsProfessionals (including salaried workers working in small, medium and large corporations, as well as contractors and consultants) working in HR, Marketing or QA Management who upgrade their skills regularly to stay informed and current about new and emerging principles and practices in their profession.
Small business ownersSmall business owners and managers that want to understand the fundamentals of HR, Marketing and QA Management so they can manage these functions in their small business.
Training products are closely aligned with the needs of employers and industry, and ABMN conducts regular surveys with employers to ensure they receive the right skills to meet the training and development needs of their organisation.
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Consultancy ServicesABMN recognises that industry and employer needs are constantly changing. Given this evolving business environment, ABMN acknowledges that its member and customers may require ad-hoc support and advice. ABMN’s consultancy services are designed to provide members with ongoing advice and support as needed, specifically in the areas of:
HR Management
Marketing
Quality Auditing
Small Business.
HR ManagementABMN provides advice, support and consulting on a range of HR and Management functions, including:
Recruitment and Induction
Workforce planning
Remuneration and staff retention
Separation and termination
360 profiling.
MarketingOur Marketing Team uses their extensive knowledge and experience to assist members to expand their customer base, focus on their target markets and ultimately to achieve a greater return through tried and tested marketing activities. ABMN can assist marketing professionals to:
Undertake segmentation to identify their target market
Conduct focused market research
Develop marketing plans
Undertake marketing audits.
Quality AuditingThe QA team provides exceptional auditing assistance and advice to support the needs of its members working within a QA framework. TABMN certified quality auditors can assist with:
Internal Audit planning
Assurance mapping
Developing QA performance measures
Implementing a Total Quality Management (TQM) system
ISO 9001 compliance.
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Small Business Advisory ServiceMicro and small business represents the majority of businesses in Australia, so ABMN provides a range of specialist knowledge and advice for those working as sole traders and small business owners, including:
Business planning
Marketing and sales
Bookkeeping and financial management
Recruiting and managing staff
Website and promotions
Legal services.
Pricing Structure
Service Non-Members Individual Corporate (11+)
Membership $300 per year $3000 per year
Training Products:
Courses
Library
Resources
Webinars
Blogs
$500 Per Day
$80 per webinar
2 free courses per year
Unlimited access to Library and Resources
10% training discount
Free webinars
20 free courses per year
Unlimited access to Library and Resources
10% training discount
Free webinars
Consulting Services:
HR Management
Marketing
Quality Auditing
Small Business
$250 per hour 1 free consultation (up to 2 hours) then $200 per hour
5 free consultations (up to 8 hours) then $200 per hour
Events and Conferences:
Breakfasts
Conferences
Seminars
Awards night
Dependent on the event
Free award night
Event discounts
5 conference delegates free award night and annual conference
Event discounts
News:
Monthly Newsletter
Weekly e-Bulletin
On request
Weekly e-Bulletin
Electronic + 1 printed copy (upon request)
Weekly e-Bulletin
Electronic + 5 printed copies (upon request)
Weekly e-Bulletin (extra upon request)
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3. Market Analysis ABMN is the only professional services business that offers services in an online environment, in addition to, face-to-face and phone support. This includes consultation and training, as well as resourcing. Client benefits include:
Ready access to services
Convenience
Access to services 24/7
ABMN is a competitive player in the business services industry, filling around 22% of the served market space.
4. Competition The main competitor in the business services membership space is the Australian Institute of Management (AIM). AIM is recognised within the Australian business community as the leader in the business services market. There are several other smaller competitors, offering specialised services and advice. Some operate from outside Australia, and are slowly making inroads into the Australian market.
5. Marketing Strategy
BrandingThe ABMN brand is recognised by the distinctive ABMN logo with blue bold print and a red map of Australia. ABMN uses branding on: communications, advertising, the website, the eBulletin and personal correspondence.
Promotional StrategiesABMN uses a variety of promotional strategies to build business, and supports creative approaches and new ideas. Ideas for promoting products and services to build business include:
Cross-promoting activities, such as using the Business Breakfast Series, or training programs to promote other products or services
Membership drives
Discounted memberships
Discounted member fees for products and services
Incentives and free items, such as books for attending events
Conducting website, Newsletter, and eBulletin campaigns to promote products and services
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Communication with MembersABMN has a strong online presence and contacts members through a weekly eBulletin and a monthly newsletter.
Advertising strategies Online
SMS
Mail out
Social media release
Events
Print media
Giveaways
TV and Radio
Measuring success
Our products and services are advertised on a quarterly basis. All advertising formats are utilised in our advertising.
6. Business Structure and ManagementProviding members with a range of products to support business objectives and create success, ABMN forms ongoing relationships that endure over time and beyond change.
ABMN provides reliable and expert advice, instilling confidence and reducing risk – a need for all business. With an online presence and a growing overseas market, our appeal is increasingly universal.
ABMN organisational structure is shown on the next page.
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7. Finances
ABMN Budget 2013
Every department at ABMN has a budget for all costs which is managed by the department
manager.
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ABMN Australian Business Management NetworkOperating Budget 2013/2014
FY Q1REVENUE
8. Action Plan
Key Objectives Task By Whom By When
Priority Growth Areas Agreement and decision on implementation
New members
New services
Create diverse workforce
Identify processes for equity in recruitment and performance
Increase diversity in the workplace and in management
Increase ‘employer of choice’ status and promote this message to attract the best new staff
Implement strategies to improve employee of choice status
Develop plan to promote as employee of choice
Formalise selection processes
HR to document steps required in the specific selection process
Formalise induction and probation processes
HR to document steps required in the induction and probation
Greater development opportunities for staff
Identify opportunities for employee learning and development
Recruit and retain high quality staff
Identify options to recruit and retain high performing staff
Creating a safe and supportive workplace culture
Review workplace health and safety process
Develop awareness of Code of Conduct
Consultative and collaborative employee relations
Develop consultative committee with employee, management and union representation
Marketing
Determine sales and marketing objectives
Identify sales in each quarter
Outline plan
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Appendix I: Competitor Analysis
Competitor Market share (%) Value to customers
Australian Institute of Management (AIM)
58% Cheap rates for all AIM courses, qualifications, events, consulting and research services
The institute of Internal Auditors
63% Specialist training, advice and support in QA and ISO 9001 compliance
Professionals Australia 18% Discounted provision of financial planning, marketing updates, member advantage programs
Australian Human Resources Institute
82% Specialised human resources training, conferences and networking
Australian Marketing Institute
79% Specialised marketing training and events
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Appendix II: Strategic SWOT Analysis
Strengths Weaknesses
Advantages the business can exploit, e.g.
innovation – ahead with ideas and new ways to conduct business
low overheads due to business model – telecommuting staff
unique products
value for money
young image
Poor customer service identified in recent surveys
Lacks gravitas of competitors with longer history in the market space
Too many customer complaints
Opportunities Strategies using strengths to address opportunities
Strategies to reverse weaknesses to address opportunities
Marketplace areas that can be built on:
Innovation – marketplace looking for cheaper and better ways to do business
competitor closure during GFC creating less competition
Ways to take advantage of business strengths, e.g.
promoting good customer service to attract competitor’s customers
coming up with new ideas and surprising our members
providing a one shop stop for all business needs so clients do not need competitors to meet their needs
Ways to ensure weaknesses don’t hamper opportunities:
employer of choice – appealing to Gen Y and X
excellent induction
strategies to engage remote workforce
Threats Strategies to counter threats with strengths
Strategies to fix vulnerabilities
External issues that could affect the success of the business:
decrease in consumer demand
change in client preferences to outsource for services
change in preferences of workforce – staff turnover
Ways to use business strengths so threats are not a problem:
regularly launching new products
responding to client demands
to provide services that our clients cannot conduct business without
Ways to address areas where the business may be vulnerable, e.g.
utilising new technologies and social media to reach all potential customers
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