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Business Plan and other Communication Tools - Entrepreneurship 101 (2013/2014)


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This lecture presents tips, examples, techniques and tools for building the four essential communication documents for entrepreneurs including:

-The Elevator Pitch
-Executive Summary
-Company Presentation
-Business Plan

Learn how to create these communication tools and how to use them effectively to grow your business from an idea to a funded business.

Published in: Business, Economy & Finance
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Business Plan and other Communication Tools - Entrepreneurship 101 (2013/2014)

  1. 1. The  Business  Plan  and  Other   Strategic  Communica7on  Tools  
  2. 2. me   –  Venture  capital   –  Founder   –  Opera1ng  execu1ve   –  Investor   –  Mentor  
  3. 3. The purpose of business is to create and keep a customer. - Peter Drucker
  4. 4. A  few  reasons  companies  fail   •  •  •  •  •  •  •  Misunderstanding  what  customers  want   Underes1ma1ng  the  compe11on   Not  enough  differen1a1on  in  the  market   Underes1ma1ng  1me  and  effort  to  revenue   Lack  of  financial  planning   Poor  leadership   Bad  partners  
  5. 5. Business  Planning  Helps  Avoid  Failure  
  6. 6. Business  Planning  and   Communica7on  Tools   •  •  •  •    Elevator  Pitch   Execu1ve  Summary   Financials   Business  Plan  
  7. 7. Principles  for  Business  Planning   and  Communica7on   Factual   Dynamic   Visually  compelling   Consistent,  concise,  clear   Audience-­‐centric   Easy  to  understand  
  8. 8. The  Elevator  Pitch     hMp://  
  9. 9. The  Execu7ve  Summary   •  •  •  •  •  •  Most  important  part  of  a  business  plan   Write  it  last   1  –  2  pages   Tell  your  story!   Emphasize  the  business  opportunity   Capture  investor’s  imagina1on/interest   or  lose  them  forever  
  10. 10. Essen1al  Parts  of  the  Business  Plan   Execu7ve   Summary   Financials   &   Projec7ons   Company   Overview   Market   Analysis   Team   Business  Plan   Customer   Analysis   Opera7ons   Plan   Marke7ng   Plan   Compe77ve   Analysis  
  11. 11. Company  Overview   •  “About  Us”   •  Describe  clearly  and  concisely   •  Make  sure  the  reader  understands  what  your   company  does  
  12. 12. Market  Analysis   Research   market   Select   target   market   Project   Write   market   analysis  
  13. 13. Customer  Analysis   The purpose of business is to create and keep a customer. - Peter Drucker
  14. 14. Compe11ve  Analysis   List  of   Compe1tors   Compe1tor   Product   Summary   Compe1tor   Strengths   and   Weaknesses   Compe1tor   Strategies   and   Objec1ves  
  15. 15. Marke1ng  Plan  -­‐  The  Four  Ps   Corporate  Objec1ves   Marke1ng  Strategy   Product   Promo1on   Price   Partnerships   Place  
  16. 16. Opera1ons  Plan   Possible  Components   Opera1ng   facili1es  and   equipment   Produc1on  and   opera1ng   procedures   Compliance  with   regula1ons   Supplies,  prices,   terms,  condi1ons,   alternates   Inventory   management   Quality  control   Customer  service   Web  hos1ng   Website   development  
  17. 17. The  Team  
  18. 18. Financials   •  Don’t  ignore  financials  –  they  are  CRITICAL   •  It  isn’t  the  spreadsheet  that  is  important,  it  is  the   thinking  behind  it   •  You  can’t  possibly  understand  your  business  poten1al   if  you  haven’t  forecasted   •  Yes,  it’s  hard  to  forecast  for  an  early  stage  company   •  Yes,  they’re  going  to  be  wrong   •  Show  what  you  have  anyway  and  explain  your   assump1ons   •  Be  able  to  explain  EVERY  number  instantaneously  
  19. 19. Financials  con7nued…   •  Must  be  able  to  show:   –   expected  revenues   –  Expenses   –  How  much  funding  company  needs   –  When  you  need  funding   –  How  lenders  will  be  paid  pack/investors  will   receive  a  return  on  their  investment  
  20. 20. Things  you  ABSOLUTELY  MUST   REMEMBER  
  21. 21. Jane’s  Rule  #1:   It’s  NOT  All  About  the  Technology  
  22. 22. Jane’s  Rule  #2:   You  MUST  Understand  Your  Market  
  23. 23. Jane’s  Rule  #3:   Yes,  You  Have  Compe77on  
  24. 24. Jane’s  Rule  #4:   Think  Hard  About  Your  Exit  Strategy  
  25. 25. Jane’s  Rule  #5:   Realis7c  Valua7on  is  Important  
  26. 26. Jane’s  Rule  #6:   Don’t  Ignore  Milestones  
  27. 27. Jane’s  Rule  #7:   Keep  Your  Wri7ng  Clu]er-­‐Free  
  28. 28. Jane’s  Most  Important  Rule:   Tell  Your  Story!   “If a story is not about the hearer, he will not listen. And here I make a rule—a great and interesting story is about everyone or it will not last.” - John Steinbeck