Business Planning

Question 1

What is a Business Plan?

Answer 1

A written description of your business’s future
A document describing what to do and how to achieve it

Question 2

What is your company’s Business Plan?

Answer 2

Long Term:
Vision - progressive; expertise; nurturing; quality, innovation; growth
Achieving vision - growth; development; empowerment; happiness; honesty; team; innovation
Aims - outstanding service; add value; support people; forefront
Opportunities - worklife changes; digital revolution; net zero; social contribution

Short Term:
Invest in latest technology and software
Upgrades to office workspace environments
Increase workforce
Identify new markets and clients
Improve employee satisfaction and productivity

Question 3

Why have a Business Plan?

Answer 3

Clear direction
Monitor growth
Set short/long term targets

Question 4

What is included in a Business Plan?

Answer 4

Goals
Strategies:
SWOT
Benchmark
Marketing
Best Practice
Financial Forecast [turnover increase from £93M to £130M over next 5 years; profit increase from £17M to £30M
Resource

Question 5

What is a PEP?

Answer 5

A plan on who does what policies and procedures [Project Execution Plan]

Programme
Cost Plan
Monitoring and reporting strategies
Communication

Question 6

What issues are there with staff turnover?

Answer 6

Expensive and time consuming to interview
Teaching new people how the business works
Loss of money training people

Question 7

What tools are there to manage the business?

Answer 7

Time Sheets
Project Reviews
Action Plan
Team Meetings

Question 8

How does your company get new appointments? [ie new clients, not work]

Answer 8

Marketing
Networking
Social Media
Sponsor Events
New staff bringing clients

Question 9

How do you calculate fees?

Answer 9

Percentage basis
Resource, based on:
Programme
Resource
Scope

Question 10

What’s included within your Fee Document?

Answer 10

Cost
Scope
CV
PI
Terms and Conditions
Dates/Programme

Question 11

How do you ensure you make profit?

Answer 11

Timesheets
Resourcing
Financial Management Software

Question 12

What’s in the RICS Business Plan? [this now superseded by hot topics 2024]

Answer 12

Long Term:
ITL - Influential Thought Leader
Trusted by stakeholders and society

Measured by evidence of adoption to industry

Question 13

Are you aware of RICS Business Plan? [this now superseded by hot topics 2024]

Answer 13

RICS Business Plan 21-22 [this appears to be the latest]

ITL - Influential Though Leader - adopt use of RICS; influencing high level policy makers
Trusted by stakeholders