The foundations of a business are essentially akin to the root system of any tree, but hey, let’s say one of the tremendously splendid Melbourne Royal Botanic Garden trees.
The magnificent trees in the Gardens all started from a seed and the development of a root system that:
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Absorbs water and minerals
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Anchors and supports
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Stores food
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So, how can we learn from the tree’s success and apply it to the development of your seed (idea) and business model?
The foundations of a business are essentially established by business planning.
“A goal without a plan is just a wish” Antoine de Saint-Exupéry
The most important part of a Business Plan is actually doing it – the journey is the key rather than the end product.
DBM can assist in your journey of a business plan which includes inter alia:
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Ownership
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Management Structure – who does what & why
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Goals
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Products/Services
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Marketing Strategy
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Financial forecasts
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Some important considerations are detailed below:
Business Structure
Get it right at the start to allow your business to build a strong root system. Risk management, asset protection, taxation, and capital gains tax need to be carefully weighed in the choice of business structure.
Financial Forecasts
A key management tool as it lays out a considered road map which is a reflection of the clarity of the business owner’s idea and increases the confidence of key stakeholders including family, financial institutions, suppliers
DBM is expert financial modellers and we have developed a model template that integrates:
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Forecast Profit & Loss
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Forecast Balance Sheet
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Cashflow Forecast
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