Finance and accounting
The assessment is designed as an extremely practical and useful tool to use in your business. In completing this assessment, you will have developed a practical business plan for yourself as well as identified and addressed major risks to your business.
Completing this assessment will address the following units of competency:
| BSBSMB405 | ELECTIVE | Monitor and manage small business operations |
Read the instructions for each section of the plan and type your responses into the text box provided.
[my company/name] BUSINESS PLAN – [year]
Executive Summary:
Provide a brief description of the business.
- How long has it been trading?
- Who are the directors?
- What is the main strength of the business?
- What is the main goal for this year?
HINT: your answer should be able to fit in the text box provided.
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Market Analysis and Business Goals for this year:
- Describe your target market – what customer types will your marketing be aimed at?
- Provide a brief industry overview.
- Who are your major competitors
- What are your key business objectives for this year. What do you want to achieve and how is this different from last year?
HINT: your answer should be able to fit in the text box provided.
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Service and Value Proposition:
- What is the service you provide?
- What is your Unique Value Proposition? i.e. what makes me different from every other broker who promises a range of lenders and great service?
HINT: your answer should be able to fit in the text box provided.
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Marketing activities:
Marketing strategies to attract new clients and keep existing ones.
- How does your service level differ from others? (i.e. every other person offering a range of lenders)
- List two local area marketing strategies that you will implement
- List two strategies that you will adopt to retain existing clients
HINT: your answer should be able to fit in the text box provided.
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Financial Objectives:
What are your key financial objectives for the next 12 months.
Complete this table. Note, if you do not wish to provide business sensitive information, you may provide example figures.
HINT: your answer should be able to fit in the text box provided.
| GOAL DESCRIPTION | LAST YEAR (XXX) | THIS YEAR (XXXX) |
| Upfront Commissions | ||
| Trail | ||
| Non Residential Loan Sales (cross – sell products) | ||
| Personal Income Goal | ||
| Business expenses (e.g. car, phone, computer, rent, admin) | ||
| Expected loan book size by the end of the year | ||
| Other objectives | ||
Resource Analysis:
Do you have sufficient resources to meet the goals you have identified in the previous sections.
Human – staff, loan writers
Skills – sales, management, product knowledge (non resi), qualifications
Premises – office, home office, co-location
Technology and equipment – update required, new purchases, replacement
HINT: your answer should be able to fit in the text box provided.
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Performance Measures
Complete this table.
- Lead to Appointment Ratio – calculate how many leads you receive that you are successful in gaining an appointment.
- Appointment to Application Ratio – calculate how many clients proceed with a loan application after meeting with you.
- Application to Settlement Ratio – calculate how many applications you submit reach settlement
- Referrals per Client Ratio – calculate how many refferals (on average) you receive per client.
If you have never calculated this information before, pick two consecutive months (e.g. February & March) and use the figures from those two months as an average for the year.
HINT: your answer should be able to fit in the text box provided.
| GOAL DESCRIPTION | LAST YEAR (XXX) | THIS YEAR (XXXX) |
| Lead to Appointment Ratio | ||
| Appointment to Application Ratio | ||
| Application to Settlement Ratio | ||
| Referrals per Client Ratio |
‘One Page’ business plan.
[insert name/company] FOR YEAR 2___ |
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| FINANCIAL GROWTH | REFERRAL GROWTH |
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KEY GOALS for 12 MONTHS:
KEY OUTCOMES for next 90 DAYS:
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KEY GOALS for 12 MONTHS:
KEY OUTCOMES for next 90 DAYS:
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| OPERATIONAL EFFECTIVENESS | PERSONAL EFFECTIVENESS |
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KEY GOALS for 12 MONTHS:
KEY OUTCOMES for next 90 DAYS:
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KEY GOALS for 12 MONTHS:
KEY OUTCOMES for next 90 DAYS:
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Transfer the key information from the relevant sections you have completed into this one page business plan. To complete the Personal Effectiveness section, think about how you can be more effective in your role.
(This plan should be printed out and pinned to the desk in front of you)
