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The Importance of a Business Plan

The Importance of a Business Plan. Frank Cooney B.Arch MRIAI of Cooney Architects. Set a Goal - an objective. 1. Why do you do what you are doing?. 2. And should you be ?. 3. What are your core values and beliefs?. 4. Cooney Architects core values:- Architecture

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The Importance of a Business Plan

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  1. The Importance of a Business Plan Frank Cooney B.Arch MRIAI of CooneyArchitects

  2. Set a Goal - an objective 1 Why do you do what you are doing? 2 And should you be ? 3 What are your core values and beliefs? 4 Cooney Architects core values:- Architecture The ‘Blue Table’ strategy Respect the individual We want to be superior in everything we do Personal and professional satisfaction Sustainability 5 6 7 8 9 10 Image source - Philip Kelly Image source - Philip Kelly Image source - IN2 - Daylight analysis

  3. 1 What are your Core Values & Beliefs ? 2 Paul Hawken, in his book ‘The Ecology of Commerce’ sets out a ‘declaration of sustainability’ :- 3 • Reduce carbon emissions • Provide secure, stable and meaningful employment • Be self organising rather than regulated • Honour market principles • Be more rewarding than our present way of life, present day limits can become tomorrow’s opportunities • Restore habitats, ecosystems and societies (and our heritage) • Rely on current income • Be fun and engaging and strive for an aesthetic outcome 4 5 6 7 8 9 10 Leitrim Innovation & Growth Centre Image source - Cooney Architects

  4. Set a Goal - an objective 1 2 B.H.A.G 3 What are your interim objectives? 4 What are your long term objectives? Architectural objectives Professional objectives Lifestyle objectives Human resources objectives Financial objectives 5 6 7 8 Getting the balance right… 9 10

  5. Core Competency Image source - Cooney Architects Research Internal Review - Company overview and business definition 1 2 Core Competency - Customer needs survey - Let our customers tell us where we need to improve 3 Specialist Expertise - Customer needs survey - Track record - Our people/Specialist skills/new skills required - Our strategic alliances - Physical environment - Computers/programmes/specifications 4 5 6 7 Location - Sectors & regions 8 Financial analysis - Costs - How do we price projects? - Invoicing - Projected income - Cashflow - Overheads - Collections - Cost control 9 SWOT analysis PESTle analysis 10 Strengths (internal) Weaknesses (internal) Opportunities (external) Threats (external) Political/Legal/Environmental Economic Social Technological

  6. Research External Review - Company overview and business definition - Let our customers tell us. 1 2 Market Research - Customer needs analysis - Who are the top ten buyers in each of our sectors - Price sensitivity 3 4 Precedents - 5 Architectural practices we admire 5 Where will the work come from? - What is the projected spend in our sectors? - Do we have specialist expertise in those sectors? - Do those projects fit with our objectives? - Which regions? - What we won’t do - Porters trade offs 6 7 8 Risk Analysis 9 The Customers Decision Making Process 10 Competitor Analysis - Differentiation/competing on cost

  7. Set out your strategy - Key success factors Route to Market - Do we have the marketing expertise in-house? - How will we communicate the benefits of working with Cooney Architects to our customers 1 2 Marketing Plan - Communicating how we exceed our customers expectations and needs 3 4 Building a Brand - Becoming a trusted advisor - Get to pull rather that push - Endorsements/testimonials - Publications/Lectures - Social networking 5 6 7 Strategic Alliances - Only work with the best 8 Marketing documentation - The Pigeon hole system - Every submission is unique and tailored - Continual internal assessment and improvement of marketing documentation - Get feed back on every submission - E-Tenders 9 10 The 80:20 Rule

  8. Set out your strategy - Key success factors 1 Operations - Number/type and location of Projects Operations - Financial control systems - Projecting and implementation 2 Operations - Empowering the team 3 Operations - Resources 4 Operations - Research, personal development, CPD & Innovation 5 Operations - Project stages, design, devlivery and post occupancy 6 Operations - Workflow programming, meeting deadlines, delegation and quality control 7 Cooney Architects 8 1995 - No strategy 1996 - Frustration 1998 - Brian Moran Strategy 2004 - 2007 - Strategy Plan 2008 - Strategy Plan - reverse 2010 - Strategy Plan - IMI 9 10

  9. Implementations & Actions 1 Monitor Progress - Change strategy as required 2 The ‘SMART’ Plan Marketing Roadmap 3 4 5 6 7 8 9 10

  10. Celebrate achievements 1 Use disapointments as an opportunity 2 Enjoy… 3 Paul Hawkens ‘The Ecology of Commerce’ sets out a ‘declaration of sustainability’. 4 5 John Healy’s book ‘19 Acres’ describes life in Charlestown in Mayo in the 1940’s, a version of the above that some would, nowadays, consider ‘backward’. Yet he was describing a vibrant society that achieved many of the above criteria, I was particularly struck by the fact that, for example, real down-cycling, recycling and avoidance of waste, was happening as a matter of course. 6 7 8 9 10

  11. 1 2 3 4 5 6 7 8 9 Thank you 10

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