42629 lecture 6 pt3

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Writing a business plan3

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42629 lecture 6 pt3

  1. 1. Writing a Business PlanTim C. McAloonetmca@dtu.dkWith major contributions from: Internet sources, McKinsey & Venture Cup Unless otherwise stated, this material is under a Creative Commons 3.0 Attribution–Share-Alike licence and can be freely modified, used and redistributed but only under the same licence and if including the following statement:“Original material by Tim C. McAloone for course 42629 – Innovation and Product DevelopmentDepartment of Mechanical Engineering, The Technical University of Denmark”
  2. 2. Today’s agenda• How to identify a business idea – concept and presentation• Developing the business plan 1. Executive summary 2. Product/service concept 3. Marketing strategy 4. Business model/system 5. Business case and risks 6. Implementation plan & Checklists• Video case exercise2 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  3. 3. Description of the business system/valuechain3 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  4. 4. Example of business model4 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  5. 5. Today’s agenda• How to identify a business idea – concept and presentation• Developing the business plan 1. Executive summary 2. Product/service concept 3. Marketing strategy 4. Business model/system 5. Business case and risks 6. Implementation plan & Checklists• Video case exercise5 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  6. 6. Profit & Loss statement (P&L) is the backbone of the business case6 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  7. 7. Five years projection of Profit and Lossstatement * [McKinsey] * Earnings Before Interest and Tax7 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  8. 8. Example revenue model – Internet basedbusiness [McKinsey]8 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  9. 9. Example cost model – Internet basedbusiness [McKinsey]9 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  10. 10. Summary of revenue and EBIT [McKinsey]10 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  11. 11. Description of cases [McKinsey]11 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  12. 12. Case comparison of Revenue and EBIT in2013 [McKinsey]12 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  13. 13. Today’s agenda• How to identify a business idea – concept and presentation• Developing the business plan 1. Executive summary 2. Product/service concept 3. Marketing strategy 4. Business model/system 5. Business case and risks 6. Implementation plan & Checklists• Video case exercise13 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  14. 14. Implementation action plan andtimeline, 20xx [McKinsey]14 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  15. 15. Checklist: Executive summary15 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  16. 16. Checklist: Product/service concept –Description16 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  17. 17. Checklist: Product/service concept – Valueproposition17 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  18. 18. Checklist: Target Market18 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  19. 19. Checklist: Competition19 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  20. 20. Checklist: Marketing strategy20 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  21. 21. Checklist: Business model21 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  22. 22. Checklist: Revenue projection22 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  23. 23. Checklist: Costs projection23 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  24. 24. Checklist: Business case24 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  25. 25. Checklist: Implementation plan25 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  26. 26. Today’s agenda• How to identify a business idea – concept and presentation• Developing the business plan 1. Executive summary 2. Product/service concept 3. Marketing strategy 4. Business model/system 5. Business case and risks 6. Implementation plan & Checklists• Video case exercise26 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  27. 27. Case example – sketch the business plan for the following video case…27 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  28. 28. More help, regarding the core business28 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  29. 29. … and the way it ended29 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  30. 30. Summary: Did we achieve the objectives?• What are the elements of a promising business idea• How to make your business idea irresistible• What to keep in mind when presenting your business in a plan• How to analyse your market and the competition• How to choose your target market• How to determine your market strategy• What a business system is, and what to look out for when designing one• What to include in your financial planning• How to consider and represent risks30 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark
  31. 31. Questions ?31 Original material by Tim C. McAloone for course 42629 – Innovation and Product Development 2012 Department of Mechanical Engineering, The Technical University of Denmark

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