Magazine
Do You Thrive To Learn More About How To Achieve Greater Business Success?
Sign up to our magazine designed specifically for Australian business leaders.
Business Planning
Every business – whether you’re just starting out or looking to refocus for profitable growth – should have a plan that motivates and directs. Yet many owners struggle with crafting a business plan that’s both succinct and actionable.
You deserve a clear, concise roadmap that not only secures bank financing, but, also keeps your leadership team aligned and ready to tackle challenges head-on.
At Munro’s, our Perth-based specialist business advisors and accountants can work closely with you to create a business plan that’s custom-built for your unique needs. We focus on translating your vision into clear financial projections and actionable steps, ensuring you can concentrate on what matters most: running and growing your business.
The Problem
Many business owners face these common hurdles:
- Overwhelming Complexity: Plans that are too lengthy or filled with unnecessary details.
- Lack of Action: Documents that sit unused instead of guiding day-to-day decisions.
- Financing Difficulties: Incomplete plans that fail to secure the bank’s confidence.
- Stagnant Growth: Outdated strategies that no longer reflect market realities or internal capabilities.
If any of these sound familiar, you’re not alone. It can be tough to know where to start or what to include in your business plan.
Our Solution
Our business accountants take a practical, problem–solution approach:
- Tailored Business Plans: We develop a plan that aligns with your vision, outlining clear financial projections and strategic steps that keep you focused.
- Securing Finance: Whether you’re starting a new venture or expanding an existing one, our business plans can be designed to impress banks and lenders.
- Ongoing Review & Update: A business plan shouldn’t be a one-off document. We can help you review and update your plan periodically, ensuring it remains relevant as your business evolves and the market shifts.
- Simplicity & Clarity: We believe the best plans are succinct – just enough information to inspire and guide your leadership team without overwhelming them.
Key Benefits & Outcomes
- Strategic Clarity
- Secured Financing
- Actionable Guidance
- Profitable Growth
Read Key Points & Transcript
A Worthwhile Venture
video key points
- Critically evaluating your business idea for viability is the first and most crucial step for prospective business owners, ensuring it meets a genuine need with a sound business model.
- The sustainability of your venture depends on offering a product or service at a price that covers costs and yields a market-based Total Return to Owners of at least 15% annually.
- Validating your business idea and understanding the financial capital required to not just start, but to thrive, are fundamental.
- Recognising the ‘extra’ responsibilities that come with business ownership is essential, alongside the resources available to navigate these challenges.
- Accessing wisdom through books, videos, podcasts, professional help, and business communities can provide guidance and insights.
- Explore Munro’s Business Academy for insights and holistic advisory services to support your business journey.
Presented by: Tanya Kamonphuangphan
video transcript
If you’re on the brink of starting your own business, you need to be asking, and seriously considering the answer to:
“Is this going to be worthwhile?”
It’s the first, yet most crucial question every prospective business owner must confront.
In embarking on this journey, it’s essential to critically evaluate your business idea. Is it grounded in a sound business model?
This aspect is often underappreciated, yet it’s fundamental to the sustainability of your venture.
You must offer a product or service that addresses a genuine need – something people genuinely want and are willing to pay a price for, a price that not only covers costs but ensures a market-based total return to owners rate of at least 15% year after year.
Validation of your business idea should be non-negotiable.
Understanding the minimum financial capital required not just to start, but to survive and thrive, is paramount.
Equally, having a clear grasp of the ‘extra’ business ownership responsibilities is essential.
These considerations can seem daunting, but remember, you’re not the first to tread this path. There’s a wealth of knowledge and experience out there to help you navigate these challenges.
How do you tap into this reservoir of wisdom?
Through a myriad of channels – from business books, videos, and podcasts, to direct professional help and engaging with business groups and communities. These resources can provide invaluable insights and guidance as you chart your course.
When you find yourself in need of direct, professional assistance, we’re here to help. We pride ourselves on being more than just accountants; we’re your professional problem solvers, offering holistic business advisory services to navigate the complexities of starting, growing, and eventually exiting a successful business.
We invite you to explore Munro’s Business Academy, where we share our expertise and insights to empower your journey.
Your startup is more than a business; it’s a dream taking shape, a future being built. Hence, it’s critical to mitigate the chance of failure by critiquing the idea and developing a plan.
Frequently Asked Questions for Business Planning
- What is a business plan and why is it important?
A business plan is a strategic document that outlines your business’s objectives, financial projections and the actions required to achieve your goals. It guides decision-making, can help secure finance and keeps your management aligned. - How does Munro’s approach business planning?
We focus on creating clear, succinct and actionable plans that drive real outcomes. Rather than a lengthy document, our plans are designed to motivate and direct your leadership team, ensuring that the plan is used day-to-day, not just stored away. - How often should a business plan be reviewed and updated?
Whilst you should regularly refer back to your business plan, we recommend a specifically considered review and update of your business plan at least once a year. Regular updates ensure your plan remains relevant and continues to guide profitable growth. - How do your business planning services benefit established businesses versus new ventures?
For new businesses, a robust plan can be key to obtaining finance and setting a clear roadmap for launching the business. For established businesses, a business plan may also help with bank borrowings and refocus leaders on profitable growth, adapting to market changes and evaluating whether you may have picked up some wasteful habits. - What do people say about your business advisory and accounting services?
We are proud to share over 100 five-star Google reviews from our clients, which highlight our proactive, responsive and clarity-led advisory services. - Are your business advisory and accounting services available outside of Perth?
Yes. While Munro’s is based in Perth, our business accounting services are available in WA and across Australia. - What is the pricing for your business planning services?
Our pricing is transparent and reflects the complexity of your needs. View our pricing page and then contact us for a personalised quote. - How do I get started with your business planning and accounting services?
Getting started is simple – book a free Get To Know Each Other meeting. In this initial meeting you will discuss your challenges and goals with one of our experienced business accountants, and they will begin to outline how our tailored approach can help you.
Where To Begin
Come Along To An Improve Session
First Session is FREE (incl. GST)
Upskilling Event for Business LeadersRequest A Quote For Ongoing Accounting Services
From $3,000 per annum (excl. GST)
Business Tax Return
Do you know ‘precisely’ what you’re going to do over the next 90 days to fix your business growth challenges?
Take the spam-free* Business Growth Diagnostic.
* You’ll receive only two emails, which deliver the results, analysis and recommendations from the diagnostic. You won’t be added to our mailing list unless you explicitly opt-in.
Discover Our Key Services & Solutions
Business Accounting
Business Advisory
Asset & Wealth Protection
Tell us about your problem and we’ll respond within 1 business day.
- Call Us 1800 818 924
- Email Us hello@munros.com.au
-
Visit Us
308 Fitzgerald Street
Perth WA 6000
"*" indicates required fields