Key features that go into making a great business plan

A Good Plan Isn’t Always Big—But It Must Be Relevant

A business plan doesn’t have to be lengthy or flashy to be effective—but it must be grounded in relevance. The most powerful plans are built not on ambition alone, but on clarity, accuracy, and realistic expectations.

Whether you're launching, scaling, or navigating a challenging business phase, your plan should reflect your resources, environment, and objectives with absolute honesty.

Let’s explore four critical components that bring life—and rigour—to your business plan:

1. A Frank Appraisal of Your Resources

One of the most common mistakes we see is overpromising on action with little regard to capacity. Long task lists don’t make a great plan—realistic resourcing does.

Take stock of your:

• Cash flow and access to finance

• Talent, skills and leadership capability

• Operational systems and processes

This honest audit allows you to prioritise what's truly important: driving growth, improving return on investment, and delivering your value proposition to the people who matter most—your customers.

Working with an external advisor can provide objectivity and uncover resource gaps you may not have considered. In business, clarity around your starting point is just as critical as your destination.

2. Understanding Your Competitive Environment

Who else is in your space—and how do you stack up?

A proper competitive analysis should include:

• Market trends and shifts

• Competitor capabilities and weaknesses

• Your own point of difference

• The potential to develop a future competitive edge

A well-thought-out plan considers not only where you stand today, but also where opportunities—and threats—may come from tomorrow.

3. The SWOT Framework

Simple but powerful, a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) forces you to consider:

• What you’re good at—and where you’re falling short

• What’s on the horizon—both favourable and risky

• What’s within your control—and what isn’t

  
  

Thinking strategically about threats such as new competitors, changing tech, or pricing pressure helps you mitigate risks early, rather than reacting after the fact.

4. A Budget That Matches Ambition With Reality

Every objective in your plan must have financial backing. That means a budget that:

• Funds the activities required to hit growth targets

• Accounts for existing customer expansion and new market acquisition

• Factors in staffing, infrastructure, and marketing needs

Budgeting isn’t just about numbers—it’s your reality check. Can you achieve 20% growth in a market that’s growing at 5%? If so, why? What’s your secret sauce—and can you prove it?

This is where pressure testing comes into play.

Pressure Testing Your Plan

Your business idea might sound perfect at 2am. But can it stand up to scrutiny?

Involving your team, key suppliers, or trusted advisors in pressure testing your plan adds rigour. It helps uncover blind spots and reassures stakeholders—internal and external—that your goals are achievable and backed by real substance.

Here are some critical questions to ask:

• What happens if we fall short of our revenue target?

• Have we overstated our growth potential?

• What’s the contingency if costs exceed forecast?

Solid businesses are built on plans that are not just hopeful—but defensible.

Closing Thoughts

A business plan isn’t a box to tick—it’s a living document that evolves with your business. When crafted with honesty, insight, and the right support, it becomes a strategic compass that brings focus, confidence, and results.

Whether you're reassessing your current plan or starting from scratch, we’re here to guide you through the process—realistically, strategically, and with your long-term success in mind.

Ready to bring clarity and structure to your next business plan?

📅 Book a strategy session with us today and gain clarity on your business future ➡ Book Here

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Disclaimer: the information provided in this video is intended for general informational and educational purposes only. It does not constitute financial, taxation, legal, or other professional advice. You should not rely on this content as a substitute for tailored advice specific to your personal or business circumstances.

While every effort has been made to ensure the accuracy of the information presented, no guarantee is given regarding its completeness, correctness, or timeliness. The creator of this content, along with any associated individuals or entities, expressly disclaims any and all liability for loss or damage that may result from reliance on this information.

Before making any financial, investment, or business decisions, it is strongly recommended that you consult a qualified professional who understands your unique situation and goals..