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Business Plan Workbook for DBF Module 1

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Business Plan Workbook for DBF Module 1

  1. 1. DAYSTAR BUSINESS ACADEMY DBA BUSINESS PLAN AND FEASIBILITY STUDY REPORT WORKBOOK FOR BUSINESSES State business name …………………………………… Page 1
  2. 2. Prepared by: Your Name …………………………………………………………………………… Business Address ……………………………………………… …………………. City, State ……………………………………………………………………………… Telephone …………………………………………………………………………….. Email ……………………………………………………………………………………… Website: ................................................................................... Project Consultant …………………………………………………………………. Commissioned By ………………………………………………………………….. Page 2
  3. 3. Page 3
  4. 4. TABLE OF CONTENTS EXECUTIVE SUMMARY 1.0 COMPANY BACKGROUND 1.1 Description of the Business 1.2 Vision & Mission Statement 1.3 Business Objectives 1.4 Value Proposition 1.5 Critical Success Factor 1.6 Current Status of Business 1.7 Potential Challenges in the Business Industry 2.0 MARKETING PLAN 2.1 Description of Products & Services 2.2 Product or Service Delivery Strategy / Packaging 2.3 The Opportunity 2.4 Target Profile 2.5 Competition Table: Competitive Analysis 2.6 Pricing Strategy 2.7 Marketing & Promotion Strategy 2.8 Distribution 2.9 Sales Method 3.0 PRODUCTION / OPERATIONAL PLAN 3.1 Description of the Location / Factory 3.2 Raw materials / Consumables needed 3.3 Production Process / Techniques 3.4 Legal Environment 3.5 Labour 4.0 ORGANIZATIONAL & PERSONNEL PLAN 4.1 Ownership of the Business Page 4
  5. 5. 4.2 Profile of the Entrepreneur 4.3 Key Management Staff / Support Personnel 4.4 Summary of Salary Schedule 4.5 Organogram / Organizational Structure 5.0 BUSINESS MODEL CANVASS (BMC) 6.0 BUSINESS RISK & MITIGATION 6.1 SWOT Analysis 7.0 FINANCIAL PLAN (FIND ATTACHED EXCEL SHEET) 7.1 Financial Assumptions Executive Summary The purpose of an executive summary is to provide a quick and concise overview of the business (in one or two pages). Although this section appears first, it should be written last. The plan summary should highlight key elements of the entire business plan, including: - Objectives of the business (Mission Statement) - Your products or services, with emphasis on distinguishing features and the market needs they will meet - Your estimate of market potential and assessment of the competition - Your management team's experience and talent - How the products will be made or the services performed - Projected financial results - How much money is needed, and what will be done with it - The anticipated return on investment Be brief, concise, simple and to the point with each response. Make it enthusiastic, professional, complete, and concise. Share your business passion with them! Help Questions • Explain the fundamentals of the proposed business: (How did you come about your business Page 5
  6. 6. proposition/idea?) …………………………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………………………… …………………………………………………………………… • What will your product/service be? .................................................................................................................................................................. ................................................................................................................................................... For example if you are into table water manufacture/sales, you can state that your product will be water bottled neatly and hygienically for immediate consumption. • Who are your target customers? …………………………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………… Your target customers could be those in a business class or income category for example a car manufacturer will target individuals and groups in the middle class and upper class and companies with strong brands like banks, telecoms, large partnerships like law firms, accounting firms, etc • Who is/are the owner(s) of the business? …………………………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………………………… ………………………………………………..…… • What do you think the future holds for your business and your industry? …………………………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………………………… …………………………………………………..….. • State the total investment needed (startup); ……………………………………………………… • What is your equity (personal Funds/contribution to the business), ……………………………………………………….………………………………………………………………………. • If any, what is the loan required and repayment plan as well as the moratorium period (ie. grace period when there is no repayment on loan)? ………………………………………………………………………………………………………………………………………………………… ……………………………………………………………………………..………………………………. • What is the income that your activity will generate (gross profit, net profit)? ………………………………………………………………………………………………………………………………………………………… Page 6
  7. 7. ……………………………………………………………………………………..…. If applying for a loan, state clearly how much you want, precisely how you are going to use it, and how the money will make your business more profitable, thereby ensuring repayment. Page 7
  8. 8. 1.0 COMPANY BACKGROUND 1.1 Description of the business (Give a short introduction of your business in the space provided below including (Name of business, location and what you will do, to whom) …………………………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………………………… …………………………… 1.2 Vision and Mission Statement • Vision State a clear and achievable vision, what do you want your business to be or become? What will you want your business to be known for in the near future? ………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………… • Mission statement Mission statement help clarify what business you are in, your goals and your objectives, the core purpose of your business (the reason of being and guiding principle) .................................................................................................................................................................. .................................................................................................................................................... 1.3 Business Objective Define your main objectives, what do you want to achieve within a specific period of time, your objectives should be smart, you can focus your objectives on the growth of sales volume, the profit, compensation of your effects, personal growth etc. .................................................................................................................................................................. .................................................................................................................................................................. ............................................................................................................................................. 1.4 Value Proposition. What are the unique/special features of your business or product and service offering? What are you bringing that is new or different? Eg. Faster, better, Cheaper, ...................................................................................................................................................... Page 8
  9. 9. 1.5 Critical Success Factor of the Business Describe the most important business strengths and core competencies, what factors will make the business succeed E.g. Location, Price, Packaging, Hygiene, Endorsement, Experience, Distribution network .................................................................................................................................................................. .................................................................................................................................................. 1.6 Current Status of Business Give a complete history of your business, how far you have gone, how long you have been in the business, your past performances etc. E.g. Is it at Idea stage, Start-up, existing or expanding business .................................................................................................................................................................. .................................................................................................................................................................. .............................................................................................................................. 1.7 Potential Challenges in the Business Industry Describe the most important challenges that the business will/might face. How will you address the challenges? (Change in government policies, Climatic changes, consumer taste, Technology etc.) .................................................................................................................................................................. .................................................................................................................................................................. ............................................................................................................................................. Page 9
  10. 10. Page 10
  11. 11. 2.0 MARKETING PLAN 2.1 Description of Product(s) or Service(s): Describe your products or services (technical specification). Mention the most important features. What is special about it? List the benefits. That is, what will the product/ service do for the customer? .................................................................................................................................................................. .................................................................................................................................................................. .................................................................................................................................................................. ................................................................................................................................................................. 2.2 Product or Service Delivery Strategy/Packaging Describe how your product or service will be packaged and branded to deliver to the consumer. Describe how your product or service will be presented to your customer (Final output) E.g Coca Cola comes in PET, bottle or Can. E.g. Software comes in different versions E.g. Online Downloadable or Packed it CD, .................................................................................................................................................................. .................................................................................................................................................... 2.3 The Opportunity Describe the opportunity and the need that you want to address (Opportunities are best explained using statement of problems backed with data E.g: Describe the need you saw that lead to you starting this business) .................................................................................................................................................................. .................................................................................................................................................................. .................................................................................................................................................................. ...................................................................................................................................... 2.4 Target Market State your target customers with reference to their characteristics, geographic locations, otherwise known as demographics. Give an estimation of the total market size and your target market size. .................................................................................................................................................................. .................................................................................................................................................................. .................................................................................................................................................................. ...................................................................................................................................... 2.5 Competition List your major competitors and define your niche. Use the competitive analysis table (table 1) to compare your business to the competition. Be honest with yourself. The purpose is to help identify areas where you have competitive advantage as well as areas for potential improvement. (Fill Real Competitors under competitors A, B and C) Page 11
  12. 12. Table: Competitive Analysis Page 12 Factors My Business Competitor A Competitor B Competitor C Impact on buying decisions Product Lines 1. 2. 3. 4. 1. 2. 3. 4. 1. 2. 3. 4. 1. 2. 3. 4. Price Quality Packaging Location Services Machinery / Tools Capital Expertise Company Reputation or Goodwill Sales Method Credit Policies Advertising Image / Perception Reach / Coverage Others
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  14. 14. 2.6 Pricing Strategy Explain your method(s) of setting prices. Include list if possible. (E.g Price penetration, price skimming) ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. 2.7 Marketing and Promotion Strategy How will you get the word out to customers? Advertising: what media, why, and how often? Why this mix and not some other? (E.g prints, social media, online, incentives & discounts, etc.) ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. 2.8 Distribution How will the product get to your end user? ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. 2.9 Sales Method Describe how you will sell your products and services: retail, direct sales, wholesale, your own sales force, agents, discount, credit policy, after sales service etc. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. Page 14
  15. 15. 3.0 PRODUCTION/OPERATIONAL PLAN 3.1 Description of the Location/Factory What requirements do you need in a location? Describe your preferred location. Physical amenities: amount of space, type of building, power and other utilities, access & road network, etc ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. 3.2 Raw Materials/Consumables Needed List and describe all the raw materials or consumables needed for the operation. Identify and describe your key suppliers or source of your supply S/N Raw Materials Quantity Key Suppliers Source 3.3 Production Process/Techniques Describe the steps and processes involved in the production/operation, use diagram/flow chart on a separate sheet if necessary. Reorder level, etc. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. 3.4 Legal Environment Describe the legal/regulatory requirements for your business (E.g. CAC, TIN, licensing, permits, HMO, pension, HSE, insurance coverage, trademarks, copyrights, patents, endorsements, etc.) ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. 3.5 Labour Describe the type of labour (skilled, unskilled and professional) you will need, the working environment, time etc. S/N Designation Type Quantity Remarks Page 15
  16. 16. 4.0 ORGANIZATIONAL & PERSONNEL PLAN 4.1 Ownership of the Business Sole proprietorship ( ), Partnership ( ), Corporation ( ), Limited Liability Company (LLC) ( )? Why have you settled for this form? ...................................................................................................................................................... 4.2 Profile of the Entrepreneur Say something short about you; don’t forget to link your profile to the business. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. 4.3 Key management staff/Support Personnel Brief description of key management staff and their functions ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. ……………………………………………………………………………………………………………………………………………………………. 4.4 Summary of Salary Schedule Table: Staff salary schedule Name Designation Monthly Salary Annual Salary 1. 2. 3. 4. 5. Total Salary Page 16
  17. 17. 4.5 Organogram or the Organizational Structure as a Figure (where applicable) Page 17
  18. 18. 5.0 BUSINESS MODEL CANVAS (BMC) Business Idea: What for whom and how? Product / Service Idea: Key functionality of the product / service. Key Partners Who are our Key Partners? Who are our Key Suppliers? Which key resources are we acquiring from partners? Which key activities do partners perform? Motivation for partnership: Optimization and economy Reduction of risk and uncertainty Acquisition of particular resources and activities Key Activities What Key Activities does our value proposition require? Our Distribution Channels? Customer Relationships? Revenue Streams? Categories: Production Problem solving Platform/Network Value Propositions What value do we deliver to the customer? Which one of our customer problems are we helping to solve? What business products and services are we offering to each Customer Segment? Which customer needs are we satisfying? Who are our competitors and how are we different? Price? Characteristics: Newness Performance Customization “Getting the job done” Design Brand/Status Price Cost reduction Accessibility Convenience/utility Customer Relationships What type of relationship / resources do each of our Customer Segments expect us to establish and maintain with them? Which ones we have established? How are they integrated with the rest of our business model? How costly they are? Examples: Personal assistance Dedicated personal assistance Self-service Automated services Communities Co-creation Customer Segments For whom are we creating the value? How many potential paying customers? Who are our most important paying customers? How big a market share could you capture in what time frame? Mass Market Niche Market Segmented Diversified Multi-sided Platform Key Resources What Key Resources do our Value Propositions require? Our Distribution Channels? Customer Relationships? Revenue Streams? Channels Through which channels do our customer segments want to be reached? How are we reaching them now? How are our channels integrated? Which ones work best? Which ones are most cost-efficient? How are we integrating them with customer routines? User Segments For whom are we creating the value? Who are our most important end users? How many potential users? How many potential users by November? Mass Market Niche Market Segmented Diversified Multi-sided Platform Page 18
  19. 19. Using the nine (9) building blocks. 5.1: Key Partners 5.2: Key Activities 5.3: Value Propositions 5.4: Customer Relationships 5.5: Customer Segments 5.6: Key Resources 5:7 Channels 5.8: Cost Structure 5.9: Revenue Streams Page 19
  20. 20. 6.0 BUSINESS RISK AND MITIGATION Identify and define all the risks associated to your business and how you will mitigate them. RISK MITIGATION Political Economy Social Technology Environmental Legal Others business specific risk e.g pilferages, theft, power, injury, seasonality etc 6.1 SWOT Analysis Use the table below to make a complete analysis of your strengths, your weaknesses, the opportunity and threats Strengths: 1. 2. 3. 4. Weakness: 1. 2. 3. 4. Opportunity: 1. 2. 3. 4. Threats: 1. 2. 3. 4. Page 20
  21. 21. 7.0 FINANCIAL PLAN: To be computed using the MS-Excel financial model sheet attached. 7.1 Financial Assumptions Describe the important assumptions that support your estimations and projections. Indicate assumptions for economic indicators (inflation, interest rate ...) on the industry, the competition, supply, cost, sales, and salary. .................................................................................................................................................................. .................................................................................................................................................................. .................................................................................................................................................................. .................................................................................................................................................................. .................................................................................................................................................................. .................................................................................................................................................................. .................................................................................................................................................................. .................................................................................................................................................................. .................................................................................................................................................................. .................................................................................................................................................................. Page 21

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