Business Plan Basics For Startup Founders

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Download the Free eBook Business Plan Basics for Startup Founders here:
http://thestartupgarage.com/start-your-business-today/007b/

The goal of your business plan will be to clearly and effectively communicate what your company does and how it will operate. Its purpose will be to present your strategy to investors as a roadmap for how you intend on returning a profit. Being clear on who the audience is and how much money you’re looking for will help focus your writing.

This book covers the fundamentals for creating an effective business plan. However you choose to execute the writing and research, it is important to understand all the moving parts of your business and how they work together. Business Plan Basics will cover each of the sections with:
- The time it should take to complete
- Key questions to ask
- Information you will need
- Insights on putting it together to achieve your goal

If you need to discuss your funding strategy or business plan, schedule a free consultation with one of our startup experts (800) 385-7984 or visit our website: http://www.TheStartupGarage.com

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  • Business Plan Basics For Startup Founders

    1. 1. Tyler Jensen
    2. 2. About the Author TYLER JENSEN In 2008, Tyler founded The Startup Garage to help entrepreneurs and business owners achieve success in their business ventures, as well as their lives. Tyler is a serial entrepreneur, having launched or help launch over 100 companies, including non-profits and social enterprises. He has developed an extensive network of business relationships to help founders achieve the milestones investors care about. The Startup Garage Team has helped raise over $200 million for startup businesses.
    3. 3. Table of Contents I. II. III. IV. V. VI. VII. Goal of Business Plan Executive Summary Mission & Vision Product Description Market Analysis Industry Analysis Competitive Analysis VII. VIII. IX. X. XI. XII. Marketing Plan Operations Plan Management Team Financial Projections Startup Resources & Information Free Business Plan eBook
    4. 4. Goal of Business Plan The goal of a business plan is to clearly and effectively communicate what a company does and how it will operate. Its purpose will be to present the company’s strategy to investors as a roadmap for how you intend on returning a profit. Being clear on who the audience is and how much money you are looking for will help focus your writing. However you choose to execute the writing and research, it is important to understand all the moving parts of your business and how they work together. The 10 major sections: • • • • • • • • • • Executive Summary Mission Statement, Core Purpose & Values Product Description Market Analysis Industry Analysis Competitive Analysis Marketing Plan Operations Plan Management Team Financial Projections
    5. 5. Executive Summary • Concise description of the whole business • Should be the last thing written • 3 pages max • Functions as sales “pitch”
    6. 6. Mission & Vision • Mission: Convey company’s fundamental purpose and reason for existing • Vision: State the overarching perspective on how the world will benefit from your business in the ideal future
    7. 7. Product Description • Comprehensive description of the product using specifics and detailed language. • Compare your product to other similar products on the market • Clearly define what advantages your product has over the competition, as well as to address any weaknesses that you may need to improve upon.
    8. 8. Market Analysis • Define and determine the attractiveness of several potential markets • Understand these markets’ evolving opportunities and threats as they relate to the strengths and weaknesses of a particular business • Focus on target market and strategy of how to approach
    9. 9. Industry Analysis • Behavior and relations between competitors, suppliers, and customers • Consider political, economic and environmental factors • Define type of industry and then sector • Research potential factors that will impact business
    10. 10. Competitive Analysis • Overview of direct and indirect competitors • Shows potential investors how business differs from competition • Leads to better understanding of potential barriers to entering marketplace
    11. 11. Marketing Plan • Set marketing goals and positioning • Detail company’s brand, pricing strategy, and customer service plan • Explain marketing strategies and choose the channels that will generate customers and sales
    12. 12. Operations Plan • One of the most essential components of the business plan • Explains how product/service will go from production stage to customer • For internal purposes, the Operations Plan should be detailed and in-depth • For investors, it should highlight the important facts
    13. 13. Management Team • Describes the team that will help company succeed in building the business • Takes considerable amount of time and energy to research prospects and build relationships • How are employees selected, trained, and rewarded? • Identify key management, Board of advisors, Board of directors, and professional service providers
    14. 14. Financial Projections • Key metrics such as: - Startup expenses Marketing goals Unit sales and costs Personnel expenses Profit and loss statement Cash flows Balance sheets • First year’s projections are prepared month by month, then annually for the following two to four years
    15. 15. Business Plan Basics covers each of the 10 business plan sections with:     The time it should take Key questions to ask Information you will need Insights on putting it together to achieve your goal

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