2 minute read
Building a Business Plan
Written by: Russell Webb, Operations Director Evolution Australia, APSCo Director
I have had the pleasure of being involved with 3 recruitment businesses that have successfully scaled and either floated on the stock market, or have primed themselves ready for a potential external investment.
So, how do you scale a recruitment business effectively?
There are many facets and factors to consider when a board of directors and company owners get together and makes the ultimate statement of intent let’s take this to the next level!
Every business plan has a blueprint based on 3 simple questions...
Where are we now?
Where do we want to be?
How do we get there?
The ‘Where are we now?’ needs to have a brutal and honest assessment of the true current landscape of the business.
The ‘Where do we want to be?’ needs to take egos and overenthusiasm off the agenda and fully understand the ‘What do we want?’ and more importantly the ‘Why do we want it?’
The ‘How do we get there?’ question. Well, that’s the whole point, right? THIS is the ‘business plan’ part!
How much detail should you to go into? Macro or micro?
How many people (and who) should get involved in building it?
What milestones need to be agreed along the way? Linear or accounting for known traditional market fluctuations?
What tactics need to be employed? What are they and who needs to take accountability to implement?
Is there an appropriate amount of capability existing in the business? Can you upskill or do you need to attract new talent?
What areas need to be considered when measuring success? Revenue? EBIT? Headcount? Capability? Customers? KPIs?
My advice to those business owners who are about to, or who are currently building their strategic business plan, is to engage with an external business consultant or consultancy to help you to identify how a business strategy comes together when you are scaling your business use an expert to achieve what you need to achieve.
