You need to work with it and update it with actual facts and figures as the business progresses. "You shouldn't just keep your business plan locked away. Importantly, the plan had to show we could pay back the money we wanted to borrow. Obviously, we needed to complete such information before we could approach the bank, and we created a tailored version when we went for funding. Some things were just notes to myself, for example, 'Get detailed costs on X… Find out how much Y charges'. Originally, we wrote ours entirely for ourselves, to test whether we had a viable idea for a business. You need to alter it to suit the needs of the person who will read it. "Think of your business plan as being like a CV. "Initially, our first plan covered our first 12 months in detail, but information about the year after that was vague, if I'm honest. You're best leaving writing your executive summary until the end. All key elements of a business plan are explained within the executive summary, which is very straightforward to write because the information is already contained elsewhere in the document. "I also wrote down my plans for marketing, staff and premises. You have to consider all cash flow eventualities. I also had to explain such things as how the business would survive if income failed to live up to expectations. Your finances must be realistic and your figures must add up. It's what experienced people concentrate on when they look at a business plan. "The financial information - profit and loss and cash flow projections, etc - is very important.
We also had to provide information about our products, which were, basically, locally sourced high-quality meats. Crucially, we had to say who our customers would be and what competition we faced. Our idea for the business had to be explained in full. "The plan I produced detailed our skills, qualifications and background. I also came away with a business plan template - which came in very handy.
It wasn't particularly earth shattering, but it was a good starting point. "I had little experience of writing business plans, so I attended a local course. I started the business as a limited company, originally named Paganum, with my fellow director Heather Mitchell back in 2007. In fact, it enabled us to get a loan from Yorkshire Fund Managers. The first business plan we put together proved very useful. "Having to put together a start-up business plan means you have to consider many different issues, and this can help focus your thinking.
From that first chat, we formalised some initial ideas by writing a rough business plan. The idea was to create an online farmers' market. "As a concept, Town End Farm Shop was born after a conversation I had with a neighbour over a beer at a barbecue. Chris Wildman, director of Town End Farm Shop, talks about how he drew up his business plan when starting up
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