Planning And Writing Your Business Plan
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Planning And Writing Your Business Plan

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A workshop describing the elements of a Business Plan. I completed this workshop as part of Residency Week at Goddard College in August 2009.

A workshop describing the elements of a Business Plan. I completed this workshop as part of Residency Week at Goddard College in August 2009.

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  • 1. PLANNING & WRITING YOUR BUSINESS PLAN Camille Tuason Mata Goddard College, Fall residency August 10, 2009 (Borrowed from the Nx Microentrepreneurial Training Program)
  • 2. PLANNING FOR YOUR BUSINESS (Workshop contents)
    • Planning: things to think about.
      • Type of business
      • Purpose of your business
      • Conducting research
    • Writing: what to include.
      • About your company
      • Assessing the competition
      • Products and services
  • 3. PLANNING, cont’d.
    • Writing (cont’d.)
      • Management structure and philosophy
      • Liabilities and benefits
      • Budgeting start-up costs
  • 4. PLANNING PHASE
    • Different Types of Business
      • Sole proprietorship (easiest to start with fewer liabilities)
      • Limited Liability Corporations (LLC)
      • Limited Liability Partnerships (LLP)
      • S-Corporation
      • C-Corporation
  • 5. Two Sources for tax status
    • The Small Business Start-up Kit ($25.00)
      • By Peri H. Pakroo, J.D.
      • Comprehensive
    • Sole Proprietorship: Small business Start-up Kit ($20.00)
      • By Daniel Sitarz
      • For Sole Proprietors
  • 6. PLANNING PHASE
    • Purpose?
      • What kind of business do you want to start?
      • What are your products and services?
      • Defined your goals for your business and think about how you can achieve them
  • 7. PLANNING PHASE
    • Research?
      • Assess competition
      • Industrial performance
      • Management structure
      • Philosophy of business
      • Wages and benefits
  • 8. Writing Phase
    • Executive Summary
      • Write last
      • Summarize the contents of your business plan
    • About your company
      • Mission statement
      • General description
      • Goals and objectives
  • 9. Writing Phase
    • Market profile
      • Competition-what does it look like?
      • Use of graphs
        • Illustrate market trends
        • Illustrate your niche in the market
  • 10. Writing Phase
    • Products and services
      • What are you selling?
      • Is it unique from your competitors? How?
      • Marketing your business
        • Business cards
        • Brochures
        • Ads
        • Other marketing paraphernalia
        • Resource for cheap marketing paraphernalia: <www.vistaprint.com>
  • 11. Writing Phase
    • Management structure and philosophy
      • Describe philosophy and structure of your management
      • Benefits and labor
        • Wages?
        • Sick time?
        • Part-time, full-time workers?
        • Worker incentives?
        • Daily work schedule
      • Skills and qualifications of employers?
  • 12. Writing Phase
    • Liabilities and benefits
      • Insurances
        • Flood
        • Fire
        • Litigation
        • Unemployment
      • Taxes
      • Health insurance
      • Retirement plans
  • 13. Budget: company costs
    • Business costs
    • Costs of services
    • Start-up analysis
      • Budgeting for the first year
      • Create budget
    • Financial analysis
      • Sales receipts
      • Cash flow worksheet (monthly, annually)
        • Retail businesses: daily, weekly, monthly, annually
      • Sales Forecast
  • 14. SOURCES OF FUNDING
    • Business grants
    • Business loans
    • Getting fiscal sponsorship
    • Feedback from loan experts
      • Check with your local lender
  • 15. OTHER HELPFUL SOURCES
    • Get special assistance with tax questions, budgeting, and sales forecasts
      • Tax lawyers, business consultants, and sources
        • Chamber of Commerce(s)
        • Massachusetts Small Business Development Agency
        • Minority Business Development Agency
        • University sources (i.e. Isenberg SOM, UMASS Amherst)
        • Women Entrepreneurs
  • 16. Next Step
    • Proof read your business plan carefully;
    • Check your numbers;
    • Have a business consultant look at your business plan;
    • Submit it to a lender or grantor.