Creating a business plan for bulgaria

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Creating a business plan for bulgaria

  1. 1. Create a Business Plan © Expressive Business Strategies 2008- All Rights Reserved Rick Grimm (
  2. 2. Divide into groups of 2 or 3 people
  3. 3. We will give you a question • You will have 2-5 minutes to discuss and answer the question • At the end of the question we will either discuss it, or give you the next question
  4. 4. At the end…a business plan! Let’s go!
  5. 5. How has God made me – 5 minutes • What is my “bent”? • What do I like? Dislike? • What do I enjoy doing? • What do I know? • What is fun for me? • What do I get excited about? • What skills do I have • What could I do “forever” and enjoy it?
  6. 6. Select a product or service – 3 minutes • It needs to be a business you know something about • You don’t need to be an expert, just know enough to get through this exercise • Write down the name of your product or service
  7. 7. Select a name for your business – 4 minutes • A business name should be: – Short – Memorable – Descriptive
  8. 8. Do I need to obtain any additional education or training to do this business – 2 minutes • Is there something I don’t know • Do I need specific training • Do I need a license • Are there government requirements
  9. 9. Describe your customers – 4 minutes • Who are they • What are they like • What do they need • What do they want • Why do they want your product • Where do they live
  10. 10. What do you need to make/provide your product – 5 minutes • Materials • Equipment • Process • People
  11. 11. How much does it cost to make/provide your product – 5 minutes • Cost of materials • Cost of labor • Cost of special equipment • How would you calculate the cost per unit
  12. 12. What will be the price of your product/service – 4 minutes • What is the normal price? • Do you want to compete on price? • Do you want to offer a “premium” service/product that costs more? • How do you justify a premium price?
  13. 13. Who are your competitors – 3 minutes • List all the competitors you can think of • How long have they been around • What do they do well? • How could they do better?
  14. 14. How will you market your business – 4 minutes • What ways can you reach your customers? • What is the best way to advertise?
  15. 15. How much will it cost to build your product/service – 5 minutes • Cost of materials • Cost of labor • Capital costs (equipment, building)
  16. 16. Do you need special or expensive equipment? – 3 minutes • What do you need? • Can you get used equipment or do you need new? • Where can you get used equipment? • How much will it cost • How do I finance it?
  17. 17. How much will you sell the first day, week, month, quarter, year – 5 minutes • Estimate how much you will sell each day. • Calculate how much you will sell each week, for a month, for a year • Determine if some parts of the year are busier or slower than others. Make adjustments
  18. 18. Where will you locate your business – 3 minutes • Central location needed? • Special location (boat marina) • Location doesn’t matter • What are the potential locations?
  19. 19. How long will it take become profitable – 5 minutes • Can you be profitable quickly, or will it take some time? • If it takes some time, what are your ideas for earning a living during that period?
  20. 20. Should you borrow money to start your business – 5 minutes • What are the dangers of debt • What happens if you don’t sell as well as you hoped? • How could you get started without debt?
  21. 21. How will you conduct business when you want to take a vacation – 2 minutes • Can you just close your business? • Do you need someone to take over? • Will your partner be available to cover?
  22. 22. How will you launch your business – 5 minutes • How will you generate customer interest • Will you have promotional pricing • Do you need special advertising
  23. 23. That’s it! • You now have a business plan • When you do it for real, write it down • Think about it • Share it with others • Refine, refine, refine

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