Starting in self-employment you need a decent business plan. For some people this is needed in order to apply for finance for their business, but even when finance isn’t an issue, a business plan is a crucial element for success.
The problem is that many people launching in business for themselves have little or no experience drafting business plans, don’t know what subjects to include in it, don’t have the information they need to put in those subject areas, and also find it difficult to gauge what would be realistic targets and objectives for them in their first year.
Our partners don’t need to worry about that. Based on years of experience of running a successful HR consultancy, we can work with new partners and can draft a business plan with the right information in it to maximise their financial success in the first year and subsequent years.
We can identify realistic targets and objectives for them based on what they want to achieve, based on our knowledge of what they can expect using our systems and based on the number of hours they want to work. We then provide coaching to ensure they meet those targets during the year, and provide additional support both in the early days and whenever needed.
Because some of our partners need finance to start up, we’ve worked with banks to design a format business plan that meets their requirements and maximises the chance of funding being agreed.
We also draft a bespoke marketing plan for each partner so they know exactly what they need to do and how they will do it to make sure they get the clients they need to achieve those financial targets. Again this is based on our experience running this type of business, and on working with our systems and brand.
The business plan and marketing plan are reviewed with partners regularly to keep them up to date, and new objectives set at the beginning of each year. It isn’t a case of setting partners up and then just letting them get on with it, it’s about ongoing support to ensure they keep growing in the way they want to and meet the financial targets they want.
Planning properly is something it’s easy to overlook, but is crucial to success, so regardless of whether you choose to work with us, with another HR business or on your own, make sure you factor it into your business and keep it there!
If you’re interested in talking to us about becoming a partner with face2faceHR, do get in touch.