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Business planning and managing change

This advice identifies the main aspects of developing a business plan: what you want to achieve for your business and describes where you are now, and how you will reach your goals.

Overview

A business plan sets out what you want to achieve for your business and describes where you are now, and how you will reach your goals.

Without a realistic and measurable business plan, you may:

  • Lack insight into services that you could develop and the potential income
  • Be unaware of potential threats from competitors (to your existing and potential patients)
  • Overestimate demand and expand too quickly
  • Experience cash-flow problems
  • Have no marketing strategy to help you recruit and retain patients.

Key learning points

This advice identifies the main aspects of developing a business plan:

  • Evaluate your current position and identify where you want to be and by when
  • Research that will help you approach lenders and plan for a successful practice
  • Tools to help you assess the business environment and viability of your plans
  • What information to include and how to structure your business plan
  • Planning how to implement your business plan.