Business Planning - Summary of Experience

Question 1

What is a business plan?

Answer 1

A formal written document that sets out the development and strategy for a business to attain their goals

Question 2

What are your firms aims and objectives?

Answer 2

1) Achieve sustained revenue and profit growth
2) Meet client needs - Expand customer base
3) Maintain a positive working environment and culture between employees
4) Deliver a high standard of service

Question 3

How do you contribute to achieving your firms aims and objectives?

Answer 3

• Strive towards excellence in my work
• Teamworking and knowledge sharing
• Employing new techniques and technologies to improve my work quality
• Cross-selling the business across different sectors

Question 4

What are your firms KPIs?

Answer 4

Mainly relating to Rent/SC arrears:

• 90% collection day 7
• 95% collection day 14
• 98% collection day 28

Question 5

What is a SWOT analysis?

Answer 5

A strategic business tool to understand the strengths, weaknesses, opportunities, and threats of a business

Question 6

What is situated within a business plan?

Answer 6

1) Business activites
2) Visions
3) Objectives and goals
4) Business strategy

Question 7

Why is it important to keep an up to date business plan?

Answer 7

• Keep up with trends within the market to help growth - Remain relevant within the market and competitive

Question 8

What is IBOS?

Answer 8

Intelligent Business Operating System - Building management system using AI technology to assess patterns of utilisation and minimise energy usage

• Also use RICS Practice Information: International Building Operating Standard, 2022 - framework for assessing building performance

Question 9

How does IBOS ensure your firm can develop towards the future?

Answer 9

• Meets their ESG targets
• Growth through technological development and strategy
• Diversified income stream

Question 10

What is PEST analysis?

Answer 10

Political, Economical, Social, Technological - Assessing external factors that influence business operation looking to become more competitive within the market

Question 11

What is an LLP

Answer 11

limited liability partnership - Each partner has personal liability for debt/claims

Question 12

What is a PLC

Answer 12

Public limited company - owned by shareholders

Question 13

What is an LTD

Answer 13

Private Limited - no publicly traded shares

Question 14

Who may be the audience of a business plan?

Answer 14

Investors, government, insurers

Question 15

Can you talk me through some of your clients aims and objectives?

Answer 15

• Budgets and recs
• Responses within 24 hours
• They have their own growth objectives
• Arrears totals reduced etc