Engineering enterprise

Section Eleven - Objectives and Milestones

This comes back to setting successful criteria. Each part of the business needs to have an action

plan which outlines the milestones and therefore the success and failure criteria for their part in the operation.

• A detailed timetable for the action plan for each area e.g. marketing, operations should

have objectives plus success and failure criteria.

• What are your personal objectives in running the business and how do you intend to

achieve them?

• What objectives do you have for the business itself and how do you intend to achieve

them?

11. Objectives and milestones

11.1. Action plans and timetable

11.2. Personal objectives

11.3. Business objectives

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Appendices

• Glossary of terms

• Summary - technical data, new products including patent specifications etc.

• Market entry report by external consultants

• Marketing plan

• Order and enquiry status - new product

• Current shareholders

• Organisation chart: current, year 2, year 5.

• Curriculum Vitae of senior management

• Financial projections (year one to five): projected balance sheet on an accruals basis, profit and loss projections on a monthly or quarterly basis, if possible, for the first two years and annually for three subsequent years. Assumptions used including accounting principles, sales

and market share assumptions, costs, payroll expenses, R & D costs, warranty costs and taxes. Sensitivity and break-even analysis.

• If available, accounts for the past three years.

Appendices

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