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Essentials of a business plan by nurture talent

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  • 1. www.nurturetalent.com
    Business Plan for Entrepreneurs
  • 2. www.nurturetalent.com
    Agenda
    Business Plan documents
    Presentation
    Important Ingredients
    Detailed projections
    Planning sheet
    Assumptions sheet
    Executive Summary
    Key mistakes to be avoided
  • 3. www.nurturetalent.com
    Business Plan
    Key areas
    Consumer
    Team
    Sales
    Marketing
    Operations
    Financial
    General Guidelines
  • 4. www.nurturetalent.com
    Consumer
    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
  • 5. www.nurturetalent.com
    Team
    What is the team’s background and experience?
    What is the motivation to become an entrepreneur?
    Are all relevant skills covered by the team?
  • 6. www.nurturetalent.com
    Quality of Team
    Achievements
    Past performance
    Sales experience
    Business expertise
    Commitment
    Team bonding
    Gaps in the team
  • 7. www.nurturetalent.com
    Sales
    What is your sales strategy?
    Online or offline
    Direct or distributor
    Sales team or partners
    What is the cost of sales?
  • 8. www.nurturetalent.com
    Marketing
    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!
  • 9. www.nurturetalent.com
    About the Market
    Adequately describe the market – check if it is realistic
    Size
    Scope
    Growth
    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
  • 10. www.nurturetalent.com
    Products/Services
    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
  • 11. www.nurturetalent.com
    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.
  • 12. www.nurturetalent.com
    Operations
    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
  • 13. www.nurturetalent.com
    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?
  • 14. www.nurturetalent.com
    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?
  • 15. 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?
    www.nurturetalent.com
  • 16. www.nurturetalent.com
    Competition
    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?
  • 17. www.nurturetalent.com
    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
  • 18. 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
    www.nurturetalent.com
  • 19. www.nurturetalent.com
    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