Writing Your Business Plan

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The idea of owning running a business is exciting and can be very rewarding. However, becoming a successful business owner can also be very challenging. It requires the right mindset, perspective, attitude, traits & know-how.

Our Free Business Training is designed to give you an insight into what it means to own a business and provide you with the basics to get you started off on the path to success.

This compact but complete 10 session program will cover topics from accessing if business ownership is the right path for you, planning, opening your business to growing and expanding.

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Writing Your Business Plan

  1. 1. Welcome To Our Free Business Training Webinar Writing Your Business Plan1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 1 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  2. 2. Tr Training Overviewai Topicsn Is Business Ownership For you?in Writing Your Business Plang Business Organization Registration, Licenses, Permits InsuranceOv Business Finances & Financinge Business Locationr Tools, Technology & Equipmentv Staffingi Marketing & Openinge Growing & Expandingw 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 2 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  3. 3. We Writing Your Business Planek What is a Business Plan?T Why Write A Business Plan?wo How Can A Business Plan Be Used?To Anatomy of A Business Planpi Steps To Writing Your Business Plancs What To Do / What Not To Do 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 3 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  4. 4. W What Is A Business Plan?hat? “…a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals” wikipedia.org “…a document that precisely defines your business, identifies your business objectives, describe your strategies to reach the business objectives, and includes key financials such as balance sheet and a profit and loss statement” Susan Urquhart Brown, Author of An Accidental Entrepreneur 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 4 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  5. 5. W Why Write A Business Plan?hy? To help you focus on clarifying and defining your objective and strategies To objectively access viability of your business To help you prioritize To help identify errors, omissions, weaknesses To help in making better business decisions Increase your chance of success 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 5 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  6. 6. H How Can A Business Plan Be Used?ow To chart a road map for a new business venture? Managing an existing business Growing & expanding Monitoring progress Selling / buying and existing business or franchise Presenting to banks, investors or potential partners Putting together a team 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 6 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  7. 7. F Anatomy Of A Business Planorm No universal formatat However, certain elements are expected to be included to be considered complete Items do not have to be created in any specific order Clear, professional and readable Keep it simple 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 7 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  8. 8. M Anatomy Of A Business Planain Title Page Products/ServicesC Table of Contents Marketing & Sales Plano Executive Summary Operational & Management Planmpo General Company Description Financial Plan & Projectionsne Market Research Appendixnts 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 8 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  9. 9. T Anatomy Of A Business Planit Title Pagele The title page identifies your business and should generally include the date of the plan, business and contact information such as business address, telephone numberP as well.age 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 9 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  10. 10. T Anatomy Of A Business Planab Table of Contentsle Accurate guide to pages/sections in your plan. Keep to one page if possibleofContents 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 10 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  11. 11. E Anatomy Of A Business Planxe Executive Summarycu One to two pages of clear, concise and to the point snapshot of your business conceptt and viability. It is usually written at the end when all the information, research numbersi have come together.ve If seeking funding, you should be more specific and state how much you need, how the money will be usedSummary 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 11 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  12. 12. C Anatomy Of A Business Planom General Company Descriptionpa The high level overview of your company which may including:ny Mission StatementD Company Objectivese Why YOU are in businesss Skills and experience you bring to the tablecr Overview of Your products/Servicesi Keys to successptio 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 12n www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  13. 13. M Anatomy Of A Business Planar Marketing Researchke The general business industry you operate / will be operating int Your target customersR The Competition/Competitive Analysise SWOT Analysissearch 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 13 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  14. 14. P Anatomy Of A Business Planro Products/Servicesdu Details of Your products or servicesct Your USP (unique Selling Points)s Features & Benefits/ Positioning in marketSe Stager Sourcingvices 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 14 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  15. 15. M Anatomy Of A Business Planar Marketing & Sales Planske Delivery channelti Pricing Strategyn Advertising and Promotionsg Sales Plan& Sales ForecastSales 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 15 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  16. 16. O Anatomy Of A Business Planps Operational & Management Plan& Depending on your type of business, this section may include:M Location & Facilitiesa Production, Inventory & Break-Even Pointna Equipment & Technologyg Records Keeping systemsem Legal Business Structuree Management & Personneln  Business Advisors (Accountant, Lawyer, Tax Advisor etc)t 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 16 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  17. 17. F Anatomy Of A Business Planin Financial Plan and Projectionsan This can include:ci Personal Financial Statementa Start Up Expenses and Capitalizationls Cash Flow Projections and Assumptions Loan Requests 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 17 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  18. 18. A Anatomy Of A Business Planpp Appendicesen All supporting documents such as:di Statistical Analysisc Forecast, Cash Flow Projection, Competitive Analysis sheets and chartses Copies of legal documents and agreements Marketing material Key employee resume(s) 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 18 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  19. 19. S Suggestions When Writing Your Business Planugg Be flexiblee Identify deal breakers/killersst Don’t plan too far outi Get a loan for the amount you need but include a cushion for contingencieso Be clear on your key success factorsns Test and refine your business model and plan before you expand 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 19 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  20. 20. D What To Do / What Not To Doos Do Don’ta be overly optimistic or pessimistic prepare a clear and complete plann present your business plan nicely underplay weaknessesd conduct a details research under estimate competitorsD ask experts for their advice. pin your success entirely on your USPo frequently modify your business plan try to serve everyonen to account for changing conditions.’ts 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 20 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  21. 21. End Thank youof Next WeekWe Business OrganizationekT Have a great weekend!w Visit our blog for online tools and resourceso www.baanabaana.com 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 21 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com

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