Essentials of a business plan  by nurture talent
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Essentials of a business plan by nurture talent






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    Essentials of a business plan  by nurture talent Essentials of a business plan by nurture talent Presentation Transcript

      Business Plan for Entrepreneurs
      Business Plan documents
      Important Ingredients
      Detailed projections
      Planning sheet
      Assumptions sheet
      Executive Summary
      Key mistakes to be avoided
      Business Plan
      Key areas
      General Guidelines
      Who is your consumer/customer?
      What is her pain point?
      What is your solution?
      How will you get your first customer?
      Key Mistakes
      “Everyone” is my customer
      Market Prediction is too high/too low
      What is the team’s background and experience?
      What is the motivation to become an entrepreneur?
      Are all relevant skills covered by the team?
      Quality of Team
      Past performance
      Sales experience
      Business expertise
      Team bonding
      Gaps in the team
      What is your sales strategy?
      Online or offline
      Direct or distributor
      Sales team or partners
      What is the cost of sales?
      Have you covered all the 4Ps?
      Product, Price, Place, Promotion
      How will you market your product?
      Medium, message, Budgets and Timelines
      Who are the competitors? How are you better?
      Have you done market research or made prototype?
      Key Mistakes
      We have “no competition”
      Our 5 friends have told us this will work!
      About the Market
      Adequately describe the market – check if it is realistic
      Show a clear marketing plan, including distribution
      Medium and message
      Budgets and Timelines
      Cover after sales service – need and benefit
      Show existing partnerships - whether service providers, manufacturers, distributors, or third-party developers
      Describe your company product/services completely
      Clarify if you own or license the technology
      Inform whether patent protection is available
      Can your product be defended against competition?
      What customer pain do the product/service address
      Show the difference between you and your competitors
      Show the potential in future products/services
      Example slide for MistakeMarketing Strategy
      We are positioning the company as a competitive-cost, high quality, user-friendly as per consumer requirements in the market place. Marketing includes:
      Traditional information providers such as Print and Radio Media
      Interned advertising, along with cross promotional offers
      E-mailers to databases
      Multiplex branding
      Distribution of Blue Cards through theaters
      Outdoor branding (hoardings) and retail activites, leaflet distribution through partnership
      College networks, social networking sites and blogging sites.
      If you fail to plan, you plan to fail!
      When will you start?
      Where will you start?
      Will you make or buy your product?
      How will you supply?
      What are the technology issues?
      Key Mistakes
      No “How to” plan
      Financial Plan
      Have you got all the revenues and costs correct?
      Do the financials show a sustainable revenue model?
      Are the profit margins growing?
      What are the plans to use funds?
      What are the plans for sourcing funds?
      Question your Financial Plan
      Has the company provided adequate and understandable current and projected financial statements?
      Are the company’s projections realistic?
      Do the financials show a viable and sustainable revenue model?
      Has the company adequately considered all costs associated with developing and marketing its product/services?
    • Has the company articulated the use of raised funds?
      Has the company considered a reasonable exit strategy?
      Have the founders contributed their own capital into the company?
      Recognize competitors
      Show the competitive analysis, with key features and benefits
      Present a strong and factually based reasoning for its competitive advantage
      Identify other players in the market
      Does the company need a first-mover position?
      Timing advantage to make this approach succeed?
      General Guidelines
      Make a comprehensive plan
      Complete information and analysis
      Spend time and thought on
      Market characteristics
      Competition, specially differentiation
      Follow limits for number of slides, timelines, font sizes, colors etc.
      Keep it clean – do not clutter
    • General Guidelines
      Be Objective – talk in numbers
      Include a Summary page
      List out assumptions
      Be Objective – words like better, faster etc. have to be supported by numbers
      Key Avoidables
      Do not say we have “No Competition”
      1 friend/5 colleague is not a sample size
      Prototypes work best - Show a demo
      Lack of sources of information
      Clarity of figures – in lakh/crore etc.
      “Secret” business ideas