Building a business plan

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Building a business plan

  1. 1. Building A Business Plan Gener8! Business Ready in 8 Weeks
  2. 2. What Is A Business Plan? • Document that describes the nature of a business, from sales to strategy. – A roadmap or plan – Describes where you were, are, and going – Convincingly demonstrates that your business can make satisfactory profit to potential backers – A selling document Building A Business Plan 2
  3. 3. Goals Of A Business Plan • Raise money • Get partners • Get interest in the idea • Keep you and key staff on track Building A Business Plan 3
  4. 4. Start By Evaluating Your Business Idea • What product or service are you selling? • Benefits to customer • Why choose to do business with you? • What is different about your product/service? • What is your level of expertise? • Who are your customers and/or primary market? • What is the profile of your customer (demographics)? • Where is your product/service sold? Building A Business Plan 4
  5. 5. Promoting Your Business • How will you promote your business to potential customers? • What promotional activities will you conduct? • Research target market to understand what is in demand and how to compete so you can: – Reduce business risk – Spot current and upcoming problems in your industry – Identify sales opportunities Building A Business Plan 5
  6. 6. Examine Your Competition • Who are your top 5 competitors (consider San Antonio & beyond)? • What do they offer? • What do the not offer? • What makes you different? Building A Business Plan 6
  7. 7. Conduct A SWOT Analysis Building A Business Plan 7 Strengths Weaknesses ThreatsOpportunities Internal External
  8. 8. Framework Of A Business Plan • Executive summary • Introduction • Product & Service Definition • Market Analysis • Sales Strategy • Management Plan • Financial Analysis • Supporting Documents Building A Business Plan 8
  9. 9. Build A Team To Succeed • Business advisor/mentor • Attorney • Banker • Insurance agent • CPA/Bookkeeper Building A Business Plan 9
  10. 10. Get Connected & Learn More www. mygenfcu.org Email: smallbiz@mygenfcu.org Sign Up for our business classes Connect with us via social where we talk personal and small business tips to help you reach your money goals

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