Presenting your business plan to stakeholders

September 2024

Yolandi Kruger,   agricultural advisor at Dunamus

Part 3

IF A FARMER DECIDES TO COMPILE A BUSINESS PLAN HIMSELF OR PAY SOMEONE ELSE TO DO IT, HE REMAINS RESPONSIBLE FOR THE PROCESS AND THE CONTENT OF THE BUSINESS PLAN. THE FARMER WILL BE THE ONE WHO IMPLEMENTS THE PLAN ON HIS FARM AND LEADS HIS BUSINESS INTO ITS IDEAL FUTURE.

The development of a business plan is not a once-off document writing exercise that a person will submit and forget about. In the previous articles, the definition of a business plan and the reasons why a farmer might need one were covered. The second article explained what should be included in a business plan and provided a framework to be used.

Remember, a business plan represents the roadmap of the future for successfully developing or expanding a farming business. It spells out where the farm is heading and explains how it intends to reach this destination. The farmer should be informed about everything that is included in the roadmap and comfortable that he would be able to execute it.

After a business plan is submitted, financiers or government institutions will do an initial evaluation to see if the plan meets their requirements and if they are interested in funding the business. If they are interested in the business, they will invite the farmer to a meeting to present himself and his business and ask more questions.

BE PREPARED
It is important that the farmer prepares well for this meeting because the impression he makes will have an impact on whether they would be willing to fund his business.

The following can be done to best prepare for such a presentation:

• Read the business plan and ensure you know what is written in it so that you will be able to address any questions arising from the submitted plan.
• If you appointed someone to write the plan on your behalf, invite them to the meeting so that they can support you in addressing the questions, especially if it is more technical or financial.
• Be self-assured and confident that you will be able to implement the business plan and be a good steward of the resources handed to you.
• Take ownership of the process and do not only rely on other people to make decisions on your behalf. Be part of the process, ask questions and be part of the discussions.

If the business plan/application is turned down, ask the stakeholders to provide feedback on the reasons why they turned it down so that it can be improved for the next time.

Do not be discouraged if the first application is unsuccessful, continue working in the business and improving to become a worthy partner for external stakeholders.

Publication: September 2024

Section: Pula/Imvula