Blueprint for planning resource for funding bids

Blueprint for planning resource for funding bids

Whether you are an entrepreneur starting up your own tech company, or an established business looking to upscale your offering, there are some vital stages that you will need to go through in order to ensure that you have sufficient and appropriate resources for success.

 

Trying to make do, or wing it, is never good for business and can result in costly and unplanned expenditure to correct mistakes, change course or start again. Taking the time to plan is absolutely essential to maximise your chances of realising your dreams and turning your business into a profitable enterprise.

 

 

Business Plan

If you need to secure funding, either from a financial institution such as a bank or commercial lender, or from an investor, you will need to prove to them that your business plan is sound and that they will see a return on their investment. They will need to see a fully costed business plan that articulates what you plan to deliver, how you plan to deliver it and by when you will deliver it.

 

It is sensible to include a risk-based schedule as an annex to this business plan, demonstrating your complete understanding of the risks associated with your plan and how you intend to manage or mitigate them, with an impact assessment for those that you do not plan to actively manage.

 

Your financial forecasts must be sound and demonstrate where the investment will be used and for what benefit. It is essential that you adequately capture all necessary expenditure and provide a sound basis for estimating your return.

 

 

Resource Management

In developing a business plan, you must include the costs associated with hiring and retaining talented people to do the work, but therein lies a problem. Talented people are not cheap and planning resources can be challenging if you have no firm commitments from investors. Good staff are in high demand and unlikely to be keen on being in a post with nothing significant to work on whilst they await the money to begin delivering against your plan. Equally, waiting until you have the money in the bank will inject significant delays into the delivery of your plan while you go through the process of recruiting the right people for your business.

 

 

Load balancing existing personnel

If you are an established business, you may be able to plan your resource based on the peaks and troughs of existing projects, re-allocating personnel where necessary to ensure that your people remain engaged, motivated and interested but also delivering your full portfolio without the need to bring in additional tech resource.

 

Contracting short-term staff

If you are a start-up and do not have an existing pool of talented individuals to call upon or you are an established business but your existing employees are already fully committed, you may wish to consider employing the services of a tech contracting firm, They can provide you with access to a pool of suitable candidates who can be employed on short term contracts to deliver specific aspects of your business plan.

 

A key benefit to employing contractors is that you are able to cost them into your business plan based upon their day rates and the duration for which you will require them, which will be evidenced in your risk-adjusted schedule. This transparency is likely to please potential investors as it is very clear where their money will be spent and staff on temporary contracts are not entitled to employee benefits or pension contributions which, again, manages the expenditure in a simple and logical way.

 

If contracting for talented tech resource sounds like an appealing strategy for your start-up or upscaling business, please contact djr who would be very happy to discuss your options with you. We are experts in this field, with access to a network of talented individuals who can support you in delivering your business objectives.

 

Contact info:

0203 070 9019

Djr, The Smith, 145 London Road, Kingston upon Thames, Surrey, KT2 6SR

contact@wearedjr.com