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Business Planning


Precept encourages the use of Business Planning documents that detail the mission, strategy and tactics used to disrupt a given marketplace. Ideally, business plans provides granular details about what makes a given business unique and why customers should do business the firm. Good business planning documents are very much like an architectural "Blueprint" that provides a skeletal overview of the business, how it delivers value to customers and exactly why customers interact and make purchases.

Good business plans describe why a company is relevant and the customer needs that are being addressed.  In addition, details on the overall state of the market, any important trends, why customers buy your product or service and details of who your customers are. It's also important to detail current competitors are and their advantages, which competitors you will displace, your product offerings, how they compete with other brands and why they are needed.  Another important consideration is to detail human and financial resources, including the people that will be needed to deliver what’s expected by the customer, as well as corporate priorities and the processes to achieve them.

Pro Forma Financial Plans

The best companies also develop thorough pro forma financial plans that are an extension of the textual business plan.  Precept recommends development of three.  The first is one that’s best described as a conservative "Base Case".  The second one "Moderate case" and othe third being an "Optimistic Case", each with realistic and achievable sales revenues, margins, expenses and profits, all detailed on a monthly, quarterly and annual basis on a five year pro forma basis.

Elevator Pitch Overview

Once the above has been developed, we recommend creation of a one page "Elevator Pitch" document that briefy defines the business, process, product, service, organization, or event and value proposition.  The name 'elevator pitch' reflects the idea that it should be possible to deliver the summary in the time span of an elevator ride, or approximately thirty seconds to two minutes. The term itself comes from a scenario of an accidental meeting with someone important in the elevator. If the conversation inside the elevator in those few seconds is interesting and value adding, the conversation will either continue after the elevator ride, or end in exchange of business cards or a scheduled meeting.

The value of the planning documents is to ensure that owners, investors and their respective successors can work consistently with the original vision, character and purpose of the business on an go-forward basis.  Contact Precept today for a review of your company Elevator Pitch, Business and Financial Planning documents.

Contact Precept to arrange for review of your Business Planning documents.

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