The document provides an overview of key components of an effective business plan, including why they are important and who they are intended for. It discusses that a business plan should include a snapshot of the business and its management/resources, a strategic plan focusing on objectives and customers, an operational plan outlining tasks and priorities, and a financial plan projecting funding needs and cash flow. It also notes a business plan should consider risks and mitigate potential pitfalls. The overall goal is to structure thinking about the business and present the plan in a simple, accessible format tailored to the intended audience.
2. Why have one?
• Objectively focuses the
mind
• Check your business idea
and assess viability
• Set objectives that will help
the business grow
• Shared vision
• Help monitor success
Who is it for?
• You
• Business partners,
directors, associates
• Those you need help
from – banks, investors
Business Plans
What’s the point?
3. *PeterDrucker
Snapshot of the business Management and resources
Strategic plan Getting and keeping customers*
Operational plan What needs to be done and when
Financial plan Funding the business and tracking money
Risk analysis Predicting possible pitfalls
Business Plan
4. Snapshot of the Business
Management and resources
Background – Relevant history,
founded, track record
People – Skills, experience,
qualifications
Physical assets – Buildings,
equipment, funds
Contacts – Phone, website
address
5. Strategic Plan
Mission – What is our market?
Priorities – SMART objectives
Brand – How do we want
customers to feel about us?
USP – What makes us
different?
Situation analysis
Internal – Strengths and
weaknesses
External – My business sector
and the world in general
Segmentation – Who is
most likely to buy our
product or service?
Tactics – Different customer
groups need different
approaches. The ‘7Ps
marketing mix’
Research
ObjectivesMarketing
strategy
Getting and keeping customers
6. Operational Plan
Mission – What is our market?
Brand – How do we want
customers to feel about us, what
makes us different (USP)
Priorities – SMART objectives
Internal – Strengths and
weaknesses
External – My business sector
and the world in general
Segmentation – Who is most
likely to buy your product or
service?
Strategy – Different ways to
connect with different customer
groups. The @marketing mix’
Q3/13 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15
Task 1
Task 2
Task 3
Task 4
Task 5
Task 6
Priorities – Important verses urgent
or interesting
Return on investment – Time & money
Capacity – Does it compromise
something else?
What needs to be done and when
8. Risk Management
How likely is it that
something will happen?
How severe are the
consequences if it does?
How to reduce the impact
Predicting and mitigating possible pitfalls
9. Compiling your Plan
Make it appropriate for the audience
Paper document
Presentation
Mindmap
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