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Business Plan and other Communication Tools - Entrepreneurship 101 (2013/2014)
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Business Plan and other Communication Tools - Entrepreneurship 101 (2013/2014)

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This lecture presents tips, examples, techniques and tools for building the four essential communication documents for entrepreneurs including: …

This lecture presents tips, examples, techniques and tools for building the four essential communication documents for entrepreneurs including:

-The Elevator Pitch
-Executive Summary
-Company Presentation
-Business Plan

Learn how to create these communication tools and how to use them effectively to grow your business from an idea to a funded business.

Published in: Business, Economy & Finance

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  • 1. The  Business  Plan  and  Other   Strategic  Communica7on  Tools  
  • 2. me   –  Venture  capital   –  Founder   –  Opera1ng  execu1ve   –  Investor   –  Mentor  
  • 3. The purpose of business is to create and keep a customer. - Peter Drucker
  • 4. A  few  reasons  companies  fail   •  •  •  •  •  •  •  Misunderstanding  what  customers  want   Underes1ma1ng  the  compe11on   Not  enough  differen1a1on  in  the  market   Underes1ma1ng  1me  and  effort  to  revenue   Lack  of  financial  planning   Poor  leadership   Bad  partners  
  • 5. Business  Planning  Helps  Avoid  Failure  
  • 6. Business  Planning  and   Communica7on  Tools   •  •  •  •    Elevator  Pitch   Execu1ve  Summary   Financials   Business  Plan  
  • 7. Principles  for  Business  Planning   and  Communica7on   Factual   Dynamic   Visually  compelling   Consistent,  concise,  clear   Audience-­‐centric   Easy  to  understand  
  • 8. The  Elevator  Pitch     hMp://www.youtube.com/watch?v=Tq0tan49rmc  
  • 9. The  Execu7ve  Summary   •  •  •  •  •  •  Most  important  part  of  a  business  plan   Write  it  last   1  –  2  pages   Tell  your  story!   Emphasize  the  business  opportunity   Capture  investor’s  imagina1on/interest   or  lose  them  forever  
  • 10. Essen1al  Parts  of  the  Business  Plan   Execu7ve   Summary   Financials   &   Projec7ons   Company   Overview   Market   Analysis   Team   Business  Plan   Customer   Analysis   Opera7ons   Plan   Marke7ng   Plan   Compe77ve   Analysis  
  • 11. Company  Overview   •  “About  Us”   •  Describe  clearly  and  concisely   •  Make  sure  the  reader  understands  what  your   company  does  
  • 12. Market  Analysis   Research   market   Select   target   market   Project   Write   market   analysis  
  • 13. Customer  Analysis   The purpose of business is to create and keep a customer. - Peter Drucker
  • 14. Compe11ve  Analysis   List  of   Compe1tors   Compe1tor   Product   Summary   Compe1tor   Strengths   and   Weaknesses   Compe1tor   Strategies   and   Objec1ves  
  • 15. Marke1ng  Plan  -­‐  The  Four  Ps   Corporate  Objec1ves   Marke1ng  Strategy   Product   Promo1on   Price   Partnerships   Place  
  • 16. Opera1ons  Plan   Possible  Components   Opera1ng   facili1es  and   equipment   Produc1on  and   opera1ng   procedures   Compliance  with   regula1ons   Supplies,  prices,   terms,  condi1ons,   alternates   Inventory   management   Quality  control   Customer  service   Web  hos1ng   Website   development  
  • 17. The  Team  
  • 18. Financials   •  Don’t  ignore  financials  –  they  are  CRITICAL   •  It  isn’t  the  spreadsheet  that  is  important,  it  is  the   thinking  behind  it   •  You  can’t  possibly  understand  your  business  poten1al   if  you  haven’t  forecasted   •  Yes,  it’s  hard  to  forecast  for  an  early  stage  company   •  Yes,  they’re  going  to  be  wrong   •  Show  what  you  have  anyway  and  explain  your   assump1ons   •  Be  able  to  explain  EVERY  number  instantaneously  
  • 19. Financials  con7nued…   •  Must  be  able  to  show:   –   expected  revenues   –  Expenses   –  How  much  funding  company  needs   –  When  you  need  funding   –  How  lenders  will  be  paid  pack/investors  will   receive  a  return  on  their  investment  
  • 20. Things  you  ABSOLUTELY  MUST   REMEMBER  
  • 21. Jane’s  Rule  #1:   It’s  NOT  All  About  the  Technology  
  • 22. Jane’s  Rule  #2:   You  MUST  Understand  Your  Market  
  • 23. Jane’s  Rule  #3:   Yes,  You  Have  Compe77on  
  • 24. Jane’s  Rule  #4:   Think  Hard  About  Your  Exit  Strategy  
  • 25. Jane’s  Rule  #5:   Realis7c  Valua7on  is  Important  
  • 26. Jane’s  Rule  #6:   Don’t  Ignore  Milestones  
  • 27. Jane’s  Rule  #7:   Keep  Your  Wri7ng  Clu]er-­‐Free  
  • 28. Jane’s  Most  Important  Rule:   Tell  Your  Story!   “If a story is not about the hearer, he will not listen. And here I make a rule—a great and interesting story is about everyone or it will not last.” - John Steinbeck

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