Business Plans
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Business Plans

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Business Plans Business Plans Presentation Transcript

  • Business Plans Sul Kassicieh Anderson School of Management
  • Introduction
    • Focus your thinking
    • Establish realistic strategy
    • Financing and other support
    • Reaction by others
  • Definition
    • Document that can convince the reader that the business can produce enough revenue to make a satisfactory profit and therefore attractive as an investment opportunity
  • Many reasons to build one
    • BP should sell the writer/reader on the business:
      • Writer: so that you can go out and do it,
      • Reader: to invest in it
    • Confidence of knowing the issues
    • Improve chances of success
  • Many Purposes in real life
    • Bank Financing
    • Strategic alliances
    • Large contracts
    • Key employees
    • Mergers and acquisitions
    • Mgt team motivation
    • Ours here : Investment by VC or Angels
  • Principles of BP
    • No right way: plans can differ
    • Be creative but set a limit
    • Concise and focused
    • Captures energy and personality of business leader
    • Include negatives and issues
    • Spend some time on it
  • Sections of Business Plan
    • Cover Page: contact name and info
    • Table of contents
    • Executive summary
    • The company: past, present and future
    • The market
    • The Product/service
  • Sections of Business Plan - continued
    • Sales and Promotion
    • Financial projections
      • Profit and loss
      • Balance sheet
      • Cash flow
  • Other sections: technology based
    • Management team: people who fund other people value management skills above “ideas”
    • Risk factors: shows that you know what could go wrong and plan to avert it
    • Marketing plan: if this is “innovative” how are you going to get people to use it
  • Packaging the Plan
    • It is a ”living” document
    • No right/wrong way: the need of reader is essential
    • What are the challenges/ questions that can be raised by reader: answer these.
  • Packaging the Plan
    • Include supporting materials
    • Don’t make unsupported statements
    • Designate an outside reviewer/ reader that can critique plan
  • Sites with sample plans
    • www.businessplans.org/businessplans.html
    • www.bplans.com/sp/businessplans.cfm
    • www. business planarchive.org/