Business Planning and Modelling
A business model describes the rationale of how your business creates, delivers and captures value. Two catering businesses offering the same menu can have diverse business models and that can make the difference between success and failure. Our job is to help you with your business planning, in order to create a business model that will connect you to a successful growth path right from the start.
Writing a Business Plan
Every successful business owner has engaged in some sort of business planning. Whether you are starting a new business, identifying a new marketing strategy or planning a customer acquisition campaign, your business strategies must be geared around your business plan and business model to generate overall success.
Choose the right structure for your company
When starting a new company, how you formally establish your business will be dependent upon the type of business you’re involved in and your preferred tax designation. Some ways that you could formulate your business are:
Investing revenue back into the company is a great way to plan for growth. As technology improves, you will need to invest in new products and training. Do you know what your tax obligations are? Are you aware of the ramifications of filing as a particular company? Whatever your queries, let the team at RBSS Consulting Ltd give you the correct advice before you commit to making a decision.
At the start of building up your business, it is important that you to focus on a niche market and not spread yourself too thin. With time and experience you can begin to expand your product and/or service offerings and market share. Our marketing consultants are ready to help you define:
We have a team that can accumulate this data for you. If you need a start-up business plan or you are exploring a growth plan in a new niche market, our business consultants can help you through your discovery journey.
Staff vs contractors
We understand the appeal of being an army of one, but we would recommend hiring staff or contractors to assist you in running your business. By delegating, you can focus on what really matters, spending time working on the business as well as in the business.
Our finance ready programme, can provide you with the means to access funding for this very purpose. There are pros and cons to hiring staff or contractors and you must determine which works best for your business. Don’t make assumptions - instead become fully informed by talking to one of our business advisors today.
Bookkeepers and accountants
The terms bookkeeper and accountant are used to describe professionals who work with figures. Though they both handle numbers, they are vastly different. For example, a bookkeeper is not licensed to file your taxes or make high level decisions about the type of company you should file as.
The primary purpose of a bookkeeper is to keep your ‘books’ straight in between your accountant visits. If you have a head for figures, we can recommend a bookkeeping software that will help you stay organised. If numbers are not your strong suit or you’d rather dedicate your efforts toward a different task, we suggest you hire a bookkeeper.
Reinvesting in business is when net profits — the income left over after all operating costs and overhead are paid — are retained and invested in activities or expenses that aim to increase the value of the business.
When scaling for growth, it makes perfect sense to reinvest your profits back into your business. There are numerous ways that this can be done. If you couldn’t hire quality staff before, invest in your business by hiring expert staff now.
Employ a professional to manage your social media accounts. Launch a new marketing campaign that will open up doors to a new client base. Purchase a machine that will make your production rate more efficient.