PLANNING & WRITING YOUR BUSINESS PLAN Camille Tuason Mata Goddard College, Fall residency August 10, 2009 (Borrowed from t...
PLANNING FOR YOUR BUSINESS (Workshop contents) <ul><li>Planning: things to think about. </li></ul><ul><ul><li>Type of busi...
PLANNING, cont’d. <ul><li>Writing (cont’d.) </li></ul><ul><ul><li>Management structure and philosophy </li></ul></ul><ul><...
PLANNING PHASE <ul><li>Different Types of Business </li></ul><ul><ul><li>Sole proprietorship (easiest to start with fewer ...
Two Sources for tax status <ul><li>The Small Business Start-up Kit ($25.00) </li></ul><ul><ul><li>By Peri H. Pakroo, J.D. ...
PLANNING PHASE <ul><li>Purpose? </li></ul><ul><ul><li>What kind of business do you want to start? </li></ul></ul><ul><ul><...
PLANNING PHASE <ul><li>Research? </li></ul><ul><ul><li>Assess competition </li></ul></ul><ul><ul><li>Industrial performanc...
Writing Phase <ul><li>Executive Summary </li></ul><ul><ul><li>Write last </li></ul></ul><ul><ul><li>Summarize the contents...
Writing Phase <ul><li>Market profile </li></ul><ul><ul><li>Competition-what does it look like? </li></ul></ul><ul><ul><li>...
Writing Phase <ul><li>Products and services </li></ul><ul><ul><li>What are you selling? </li></ul></ul><ul><ul><li>Is it u...
Writing Phase <ul><li>Management structure and philosophy </li></ul><ul><ul><li>Describe philosophy and structure of your ...
Writing Phase <ul><li>Liabilities and benefits </li></ul><ul><ul><li>Insurances </li></ul></ul><ul><ul><ul><li>Flood </li>...
Budget: company costs  <ul><li>Business costs </li></ul><ul><li>Costs of services </li></ul><ul><li>Start-up analysis </li...
SOURCES OF FUNDING <ul><li>Business grants </li></ul><ul><li>Business loans </li></ul><ul><li>Getting fiscal sponsorship <...
OTHER HELPFUL SOURCES <ul><li>Get special assistance with tax questions, budgeting, and sales forecasts </li></ul><ul><ul>...
Next Step <ul><li>Proof read your business plan carefully; </li></ul><ul><li>Check your numbers; </li></ul><ul><li>Have a ...
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Planning And Writing Your Business Plan

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A workshop describing the elements of a Business Plan. I completed this workshop as part of Residency Week at Goddard College in August 2009.

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Planning And Writing Your Business Plan

  1. 1. PLANNING & WRITING YOUR BUSINESS PLAN Camille Tuason Mata Goddard College, Fall residency August 10, 2009 (Borrowed from the Nx Microentrepreneurial Training Program)
  2. 2. PLANNING FOR YOUR BUSINESS (Workshop contents) <ul><li>Planning: things to think about. </li></ul><ul><ul><li>Type of business </li></ul></ul><ul><ul><li>Purpose of your business </li></ul></ul><ul><ul><li>Conducting research </li></ul></ul><ul><li>Writing: what to include. </li></ul><ul><ul><li>About your company </li></ul></ul><ul><ul><li>Assessing the competition </li></ul></ul><ul><ul><li>Products and services </li></ul></ul>
  3. 3. PLANNING, cont’d. <ul><li>Writing (cont’d.) </li></ul><ul><ul><li>Management structure and philosophy </li></ul></ul><ul><ul><li>Liabilities and benefits </li></ul></ul><ul><ul><li>Budgeting start-up costs </li></ul></ul>
  4. 4. PLANNING PHASE <ul><li>Different Types of Business </li></ul><ul><ul><li>Sole proprietorship (easiest to start with fewer liabilities) </li></ul></ul><ul><ul><li>Limited Liability Corporations (LLC) </li></ul></ul><ul><ul><li>Limited Liability Partnerships (LLP) </li></ul></ul><ul><ul><li>S-Corporation </li></ul></ul><ul><ul><li>C-Corporation </li></ul></ul>
  5. 5. Two Sources for tax status <ul><li>The Small Business Start-up Kit ($25.00) </li></ul><ul><ul><li>By Peri H. Pakroo, J.D. </li></ul></ul><ul><ul><li>Comprehensive </li></ul></ul><ul><li>Sole Proprietorship: Small business Start-up Kit ($20.00) </li></ul><ul><ul><li>By Daniel Sitarz </li></ul></ul><ul><ul><li>For Sole Proprietors </li></ul></ul>
  6. 6. PLANNING PHASE <ul><li>Purpose? </li></ul><ul><ul><li>What kind of business do you want to start? </li></ul></ul><ul><ul><li>What are your products and services? </li></ul></ul><ul><ul><li>Defined your goals for your business and think about how you can achieve them </li></ul></ul>
  7. 7. PLANNING PHASE <ul><li>Research? </li></ul><ul><ul><li>Assess competition </li></ul></ul><ul><ul><li>Industrial performance </li></ul></ul><ul><ul><li>Management structure </li></ul></ul><ul><ul><li>Philosophy of business </li></ul></ul><ul><ul><li>Wages and benefits </li></ul></ul>
  8. 8. Writing Phase <ul><li>Executive Summary </li></ul><ul><ul><li>Write last </li></ul></ul><ul><ul><li>Summarize the contents of your business plan </li></ul></ul><ul><li>About your company </li></ul><ul><ul><li>Mission statement </li></ul></ul><ul><ul><li>General description </li></ul></ul><ul><ul><li>Goals and objectives </li></ul></ul>
  9. 9. Writing Phase <ul><li>Market profile </li></ul><ul><ul><li>Competition-what does it look like? </li></ul></ul><ul><ul><li>Use of graphs </li></ul></ul><ul><ul><ul><li>Illustrate market trends </li></ul></ul></ul><ul><ul><ul><li>Illustrate your niche in the market </li></ul></ul></ul>
  10. 10. Writing Phase <ul><li>Products and services </li></ul><ul><ul><li>What are you selling? </li></ul></ul><ul><ul><li>Is it unique from your competitors? How? </li></ul></ul><ul><ul><li>Marketing your business </li></ul></ul><ul><ul><ul><li>Business cards </li></ul></ul></ul><ul><ul><ul><li>Brochures </li></ul></ul></ul><ul><ul><ul><li>Ads </li></ul></ul></ul><ul><ul><ul><li>Other marketing paraphernalia </li></ul></ul></ul><ul><ul><ul><li>Resource for cheap marketing paraphernalia: <www.vistaprint.com> </li></ul></ul></ul>
  11. 11. Writing Phase <ul><li>Management structure and philosophy </li></ul><ul><ul><li>Describe philosophy and structure of your management </li></ul></ul><ul><ul><li>Benefits and labor </li></ul></ul><ul><ul><ul><li>Wages? </li></ul></ul></ul><ul><ul><ul><li>Sick time? </li></ul></ul></ul><ul><ul><ul><li>Part-time, full-time workers? </li></ul></ul></ul><ul><ul><ul><li>Worker incentives? </li></ul></ul></ul><ul><ul><ul><li>Daily work schedule </li></ul></ul></ul><ul><ul><li>Skills and qualifications of employers? </li></ul></ul>
  12. 12. Writing Phase <ul><li>Liabilities and benefits </li></ul><ul><ul><li>Insurances </li></ul></ul><ul><ul><ul><li>Flood </li></ul></ul></ul><ul><ul><ul><li>Fire </li></ul></ul></ul><ul><ul><ul><li>Litigation </li></ul></ul></ul><ul><ul><ul><li>Unemployment </li></ul></ul></ul><ul><ul><li>Taxes </li></ul></ul><ul><ul><li>Health insurance </li></ul></ul><ul><ul><li>Retirement plans </li></ul></ul>
  13. 13. Budget: company costs <ul><li>Business costs </li></ul><ul><li>Costs of services </li></ul><ul><li>Start-up analysis </li></ul><ul><ul><li>Budgeting for the first year </li></ul></ul><ul><ul><li>Create budget </li></ul></ul><ul><li>Financial analysis </li></ul><ul><ul><li>Sales receipts </li></ul></ul><ul><ul><li>Cash flow worksheet (monthly, annually) </li></ul></ul><ul><ul><ul><li>Retail businesses: daily, weekly, monthly, annually </li></ul></ul></ul><ul><ul><li>Sales Forecast </li></ul></ul>
  14. 14. SOURCES OF FUNDING <ul><li>Business grants </li></ul><ul><li>Business loans </li></ul><ul><li>Getting fiscal sponsorship </li></ul><ul><li>Feedback from loan experts </li></ul><ul><ul><li>Check with your local lender </li></ul></ul>
  15. 15. OTHER HELPFUL SOURCES <ul><li>Get special assistance with tax questions, budgeting, and sales forecasts </li></ul><ul><ul><li>Tax lawyers, business consultants, and sources </li></ul></ul><ul><ul><ul><li>Chamber of Commerce(s) </li></ul></ul></ul><ul><ul><ul><li>Massachusetts Small Business Development Agency </li></ul></ul></ul><ul><ul><ul><li>Minority Business Development Agency </li></ul></ul></ul><ul><ul><ul><li>University sources (i.e. Isenberg SOM, UMASS Amherst) </li></ul></ul></ul><ul><ul><ul><li>Women Entrepreneurs </li></ul></ul></ul>
  16. 16. Next Step <ul><li>Proof read your business plan carefully; </li></ul><ul><li>Check your numbers; </li></ul><ul><li>Have a business consultant look at your business plan; </li></ul><ul><li>Submit it to a lender or grantor. </li></ul>

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