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Glennon Chartered Accountants
Business Plan Test
Your Business Plan Health Check (1)
Step
1
of
11
9%
Is there enough demand?
*
No
Yes
Don't Know
Not Applicable
Every successful business is sustained by demand. Find out if there’s a demand for your product or service.
Does your price meet market expetation?
*
No
Yes
Don't Know
Could be better
Every market has its price expectations. Use them to make sure you get your pricing right.
Do you know your break-even point?
*
No
Yes
Don't Know
Vaguely
Knowing your break-even point is essential to measuring your performance and understanding the financial impact of changes in your business.
Are you maintaining your margins?
*
No
Yes
Don't Know
Could be better
Make sure you make a profit on every one of your sales by keeping up with rising costs.
Have you got Unique Selling Points?
*
No
Yes
Don't Know
Could be better
USP stands for Unique Selling Point – the more you have and the stronger they are, the more competitive you can be.
Do you carry out market research?
*
No
Sometimes
Yes
Could be better
Markets always change and the only way you can keep up is by carrying out regular research.
Have you got a long-term marketing strategy in place?
*
No
Yes
Vaguely
I haven't though about this
A three to five year marketing strategy is essential for taking your business where you want it to go.
Is your intellectual property protected?
*
No
Yes
Don't Know
Could be better
You can’t protect an innovative idea, process or brand as an asset until you patent or trade mark it.
Do you have a strong value proposition?
*
No
Yes
Don't Know
I haven;t thought about this yet
Always give your target market a reason to buy from you. The more compelling it is the better.
Can you deliver on your promise?
*
No
Sometimes
Yes
Don't know
Having demand is one thing. Being able to service it with adequate capabilities and capacity is another.
Q11 foe test purposes
*
yes
No
