Crafting a Business Plan and Budget by MDIS

As the saying goes, one who fails to plan is likely to plan to fail. Doing business is about taking risks, the informed risks, but not letting things happen on their own. To be informed of the risks to be taken, potential owners should have a lean plan to start with. To be informed of the sustainability of the existing business, stakeholders need business plans of different time spans covering different spectrums.

The budgeting in the context of this programme focuses on the yearly budget which is based on the business plan. Successful businesses involve a reasonable level of “intervention” – the stewardship and control. Without a business plan or budget, the benchmarked expectations are missing, let alone using them to measure against the actuals.

Upon completion of this workshop, participants will be able to;

• Identify the types of plan to address different business needs;
• Demonstrate crafting a lean plan and a standard plan;
• Explore the genre on long-term and mid-term business plan; and
• Demonstrate crafting a budget.