Starting A Business Presentation For Music Industry 97 2003

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Starting A Business Presentation For Music Industry 97 2003

  1. 1. Starting a Business <ul><li>Ready </li></ul><ul><ul><li>in the box idea </li></ul></ul><ul><li>Aim </li></ul><ul><ul><li>business plan </li></ul></ul><ul><li>Fire </li></ul><ul><ul><li>review, refine, then execute </li></ul></ul>
  2. 2. Why a Business Plan? <ul><li>Impress your friends? </li></ul><ul><li>Something to do on the weekend? </li></ul><ul><li>Professor requires it? </li></ul><ul><li>To impress investors, lenders, landlords, etc.? </li></ul><ul><li>To help you figure out what you are doing. </li></ul>
  3. 3. Three Weaknesses in New Business Startups <ul><li>Managing customers (marketing and sales) </li></ul><ul><li>Managing people </li></ul><ul><li>Managing cash flow </li></ul>
  4. 6. <ul><li>Table of Contents </li></ul><ul><li>I. Table of Contents </li></ul><ul><li>II. Executive Summary </li></ul><ul><li>III. General Company Description </li></ul><ul><li>IV. Products and Services </li></ul><ul><li>V. Marketing Plan </li></ul><ul><li>VI. Operational Plan </li></ul><ul><li>VII.Management and Organization </li></ul><ul><li>VIII.Personal Financial Statement </li></ul><ul><li>IX. Startup Expenses and Capitalization </li></ul><ul><li>X. Financial Plan </li></ul><ul><li>XI. Appendices </li></ul><ul><li>XII.Refining the Plan </li></ul>Business Plan for Start-ups
  5. 7. Marketing Plan <ul><li>Market research - Why? </li></ul><ul><li>Market research - How? </li></ul><ul><li>Secondary research - published information </li></ul><ul><ul><li>Industry profiles </li></ul></ul><ul><ul><li>Trade journals </li></ul></ul><ul><ul><li>Newspapers, magazines </li></ul></ul><ul><ul><li>Census data </li></ul></ul><ul><ul><li>Demographic profiles. </li></ul></ul><ul><li>Where? </li></ul><ul><ul><li>Public libraries, industry associations, chambers of commerce, from vendors who sell to your industry, and from government agencies. </li></ul></ul>
  6. 8. Marketing Plan <ul><li>Market research - Why? </li></ul><ul><li>Market research - How? </li></ul><ul><li>Secondary research - published information </li></ul><ul><ul><li>Industry profiles </li></ul></ul><ul><ul><li>Trade journals </li></ul></ul><ul><ul><li>Newspapers, magazines </li></ul></ul><ul><ul><li>Census data </li></ul></ul><ul><ul><li>Demographic profiles. </li></ul></ul><ul><li>Where? </li></ul><ul><ul><li>Public libraries, industry associations, chambers of commerce, from vendors who sell to your industry, and from government agencies. </li></ul></ul><ul><li>Primary research - gathering your own data </li></ul><ul><ul><li>Traffic count at a proposed location, </li></ul></ul><ul><ul><li>Yellow pages to identify competitors, </li></ul></ul><ul><ul><li>Surveys or focus-group interviews </li></ul></ul><ul><ul><li>How to books </li></ul></ul><ul><li>Be as specific as possible; give statistics, numbers, and sources. The marketing plan will be the basis, later on, of the all-important sales projection. </li></ul>
  7. 9. Marketing Plan <ul><li>Product </li></ul><ul><ul><li>Features and Benefits </li></ul></ul><ul><li>Customers </li></ul><ul><li>Competition </li></ul><ul><li>Niche </li></ul><ul><li>Strategy </li></ul><ul><li>Promotion </li></ul><ul><li>Promotional Budget </li></ul><ul><li>Pricing </li></ul><ul><li>Proposed Location </li></ul><ul><li>Distribution Channels </li></ul><ul><li>Sales Forecast </li></ul>
  8. 10. Financial Plan <ul><li>Startup Expenses and Capitalization </li></ul><ul><li>12-Month Profit and Loss Projection </li></ul><ul><li>Four-Year Profit Projection </li></ul><ul><li>Projected Cash Flow </li></ul><ul><li>Opening Day Balance Sheet </li></ul><ul><li>Break-Even Analysis </li></ul>
  9. 11. Last Piece of Advice <ul><li>You don’t have to fill in all the blanks </li></ul><ul><li>Better a good well thought out plan than a large document </li></ul><ul><li>The plan is for you! Enjoy the journey. </li></ul>

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