Bring your business plan to life
So often, we see business owners walking around with their business plans in their heads – but rarely do we see this plan captured and documented on paper.
In my experience working with business owners, a physical plan helps with accountability, ensuring measurable and consistent progress towards goals. You may think you know what you’re trying to achieve with your business, but without solidifying your objectives and priorities in a document, you could easily be cutting yourself too much slack – without even realising.
24th September 2025
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David Rice See profile
Controlling your business and monitoring its performance against your key priorities is not easily achieved when your plans aren’t documented. If you aren’t constantly reviewing your situation, it’s likely you’re falling behind your competitors.
Having a physical plan not only helps you to reflect but is also key in improving your business’s adaptability so it can take new challenges on the chin in today’s ever-changing business environment.
It can get very complicated, very quickly, to externalise all of your thoughts into a tangible structure that is essential for the success of your business. To keep you from falling into disarray, here are three of my non-negotiables for a quality business plan.
- Establish timeframes and targets. It may seem obvious, but getting this penned down will hold you to account as a business owner and save you from ‘moving the goalposts’ as your situation evolves. Your business’s financial objectives, profit forecasts, EBITDA (earnings before interest, taxes and amortisation), and turnover are among the most important things to record for future reference – alongside a clear understanding of your costs and the factors that influence them.
- Craft your business culture. Perhaps a less conventional component to a business plan, but extremely underrated in its importance. Noting down the tactics you’re employing to deliver the culture you envision is a good starting point. Remuneration structure, staff training needs/requirements, staff promotions, and recruitment strategy should all be part of this to give you control and insight.
- Changes to the financial climate as they happen. Documenting economic events and updates to government legislation or taxation will make a huge difference in realising how your business needs to adapt to new challenges, keeping you a step ahead of the competition.
No business plan is truly complete without a personal plan to account for all eventualities. Ask yourself the following questions to make sure you’ve got everything covered:
- What are you trying to achieve personally with your money? Is it financial independence?
- Do you have liabilities to fund and for how long?
- Have you structured your Income Tax efficiently?
- Have you accounted for school/higher education fees for loved ones?
- How will your family be financially protected if you die prematurely?
- Are you building a long-term income solution to allow for your eventual retirement, or will this be funded by selling your business?
Need help with your plan?
At Old Mill, we can help you actualise your thoughts and structure your own business plan. We’ll regularly check in with you to make sure you’re on track and ensure your plans are both robust and realistic. We can also provide valuable insights from our experiences working with a range of businesses across countless sectors.
Your personal plan will be created for you using cash-flow modelling – and regularly reviewed whenever we check in – to help you sleep peacefully despite all the strains and stresses of running a business.
If your business plan is in your head, let us help you get it out and turn it into a tangible structure to take your business forward – get in touch.
