Your SlideShare is downloading. ×

Business Plan Overview: Updated 2009

1,825

Published on

Overview of parts of a business plan, suggested resources for creating business plan sections, detailed overview of the business plan narrative section

Overview of parts of a business plan, suggested resources for creating business plan sections, detailed overview of the business plan narrative section

Published in: Business
0 Comments
5 Likes
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
1,825
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
188
Comments
0
Likes
5
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Business Plan Development Creating Your Road Map IMBA Lecture Series (c) 2009 Debra Askanase
  • 2. Agenda
    • Purpose of a Business Plan
    • Parts of the Plan
    • Criteria by Section
    • Tips
    (c) 2009 Debra Askanase
  • 3. Tools
    • Sample Business Plan
    • Questionnaires (to get you started)
    • Detailed Section Outline
    • Contact: Debra Askanase
    • [email_address]
    (c) 2009 Debra Askanase
  • 4. WHY do we do this? (c) 2009 Debra Askanase
  • 5. Yes, but WHY ELSE?
    • Know the Industry
    • Find your Competitive Advantage
    • Analyze Risks
    • Develop Your Idea Methodically
    • Acquire Investors
    • Find Support
    • Secure Financing
    • … .SHOULD I START THIS VENTURE??
    (c) 2009 Debra Askanase
  • 6. Business Plan Sections (c) 2009 Debra Askanase
  • 7. Business Plan Sections
    • Narrative Section
      • Business Description
      • Products and/or Services
      • Industry Analysis
      • Operations
      • Clientele/Target Markets
      • Competition
      • Marketing Plan
      • Personnel/Management
      • Long-term Goals
      • Risks and Contingencies
    (c) 2009 Debra Askanase
  • 8. Business Plan Sections
    • Financial Projections
      • Financial Narrative
      • Start-up Expenses and Worksheet
      • Revenue Assumptions
      • Financial Assumptions
      • 3-5 Year Financial Projections
        • Statement of Cash Flows
        • Income Statement
        • Balance Sheet
        • Relevant ratios
    (c) 2009 Debra Askanase
  • 9. Business Plan Sections
    • Supporting Documents
      • Resume/CV
      • Relevant documents/contracts
      • Past 3 years of tax returns (if seeking conventional financing)
      • Academic research
      • Marketing research results
      • Other
    (c) 2009 Debra Askanase
  • 10. US vs. Israeli Style
    • All presentations, section questionnaires in US format
    • Sample outline in combined style
    • Lecture series suggests:
      • create in US format, then convert to any other style
    (c) 2009 Debra Askanase
  • 11. Products and Services
    • Clear, concise descriptions
    • Divide into separate sections
      • Products
      • Services
      • Further subdivide into categories
    • Value proposition
    • Price menu
    • Pricing approach/structure
    (c) 2009 Debra Askanase
  • 12. Industry Analysis
    • Your Goal:
      • Give a comprehensive understanding of the industry
      • Defend your business relevance!
    • How?
      • Describe current situation
      • Relevant trends
      • Intervening factors
      • Size of industry/market potential (total # businesses, annual revenues, etc.)
      • Growth potential
    (c) 2009 Debra Askanase
  • 13. Industry Analysis
    • Where?
      • Academic sources (trade journals, academic journals, Google scholar)
      • Economic census (USA) http://www.census.gov/econ/census/ or http://factfinder.census.gov
      • Trade Associations
      • Online databases/sources:
        • Emarketer.com, bizstats.com,hoovers.com/free
      • GALE database
        • Articles, studies, etc.
    (c) 2009 Debra Askanase
  • 14. Operations
    • Straightforward
    • (If retail) “paint a picture” of the space (as you walk in you will see/experience etc.)
    • Procedures and controls
    • Distribution channels
    • Payment procedures (in/out)
    • Business-specific details
    (c) 2009 Debra Askanase
  • 15. Clientele/Target Markets
    • Primary Clientele (>= 50%)
    • Secondary Clientele (>= 20%)
    • Tertiary Clientele
    • Detailed descriptions
      • Demographics
      • Psychographics
      • Spending
      • Total market size per market segment
    • Use for Revenue Projections
    (c) 2009 Debra Askanase
  • 16. Clientele/Target Markets
    • Consumer
    • B2B
    • Tourist
    • Religious
    • Example:
    • Witch Tee’s (Salem, MA)
    (c) 2009 Debra Askanase
  • 17. Competition
    • Match Apples to Apples: Segment your competition
    • Your Value Proposition
    • Your Competitive Advantage
    • 2 Types of competitors:
      • Direct
      • Indirect
    • Discuss each significant competitor in depth, can group others
    • Identify potential threats and talk about them directly
    (c) 2009 Debra Askanase
  • 18. Step Back from the Project!
    • SWOT Analysis/PEST Analysis (next lecture)
    • Do you have a real Value Proposition? USP?
    • Do you want to start this business?
    • Begin financial projections
    (c) 2009 Debra Askanase
  • 19. Marketing Plan
    • Your Goal : you understand your market, industry, competitive and competitive advantage
    • Within the narrative, consider and describe
      • Marketing channels
      • Personnel
      • Geographic reach and richness
      • Tools
      • 4 (or 5) Ps
      • Pricing strategy related to marketing
    (c) 2009 Debra Askanase
  • 20. Marketing Plan
    • Quantifiable Goals/Objectives = specific deadline dates, and numerical goals
    • Specific, detailed activities
    • Complete budget
    • Metrics
    • Several plans:
      • Start-up/awareness
      • First year
      • First three years
      • Marketing calendars are useful tools
    (c) 2009 Debra Askanase
  • 21. Personnel and Management
    • Organizational Chart
    • Responsibilities
    • Salaries
    • Professional Advisors
    • Advisory Board
    (c) 2009 Debra Askanase
  • 22. Long-Term Goals (c) 2009 Debra Askanase
  • 23. Risks and Contingencies
    • Shows you understand your business
    • Deals with investor concerns up front
    • Make them real
    • Address at least two real risks
    (c) 2009 Debra Askanase
  • 24. Financial Narrative (c) 2009 Debra Askanase
  • 25. Recommended Reading
    • Good to Great & Built to Last Jim Collins
    • Blue Ocean Strategy W. Chan Kim
    • Getting to Yes: Negotiating Agreement Without Giving In Roger Fisher, William Ury and Bruce Patton
    • The E-Myth Revisited Michael E. Gerber
    • The Tipping Point Malcolm Gladwell
    • The Little Red Book of Selling Jeffrey Gitomar
    • Groundswell Forrester Research
    • The Wisdom of Crowds James Surowiecki
    (c) 2009 Debra Askanase

×