I interviewed Miss Tina Jones who runs her own coffee house chain. It is called Mccafe and is a popular coffee chain in Canada.
How has this plan helped his or her business?
The business plan helped set her clear objectives. Before launching the business, setting these objectives helped her counter the losses and problems she might have to face, otherwise. Also these objectives have helped her greatly in allocating resources effectively and efficiently. It has helped her keep track of the progress and weaknesses in her business. Furthermore, the plan helped her define short term and long term goals of her business. The business plan has helped provide direction for the business.
Do they use this plan?
Yes, she actively uses her business plan in the business.
Have they integrated the terms and strategies of this plan into their daily operations?
Yes, the plan virtually dictates the day to day running of the business because of its comprehensive he nature. An example would be the supply chain model that is in effect since inception. Although some alterations have been made to adapt to changing business environment, the process remains closely linked to the operational procedure laid down in the business plan.
How does this plan give them a competitive advantage?
At the time the plan was formulated, a thorough SWOT analysis was done based on market trends and competitor analysis. The plan assists them in maintaining a strategy that aligns with the objective of maximizing competitive efficiencies.
How long have they been in business? Are they on target with their goals and objectives?
Tina Jones has been in business since 3 years, now. According to her, she is well in line with most of her targets. A good indicator of this is the growing profitability of the business. As far as the goals are concerned, Tina feels that they have a great team who has helped her achieve the goals that they had set in their business plan.
How much have they grown since day 1?
They have three coffee houses running in Toronto since their inception.
Is where they are today, where they originally envisioned themselves to be?
According to Tina, she did not expect the coffeehouse chain to grow so quickly. She strongly believes that the growth in their business is greatly dependant on the business plan that she made.
How many entrepreneurs did you talk to before you found one with a business plan?
I talked to three entrepreneurs before I found one with a business plan.
How many did you talk to before you found one that actively used it?
I talked to out at least five people before I found one who actively used a business plan.