Essentials of a business plan by nurture talent


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Essentials of a business plan by nurture talent

  1. 1.<br />Business Plan for Entrepreneurs<br />
  2. 2.<br />Agenda<br />Business Plan documents<br />Presentation<br />Important Ingredients<br />Detailed projections<br />Planning sheet<br />Assumptions sheet<br />Executive Summary<br />Key mistakes to be avoided<br />
  3. 3.<br />Business Plan<br />Key areas<br />Consumer<br />Team<br />Sales<br />Marketing<br />Operations<br />Financial<br />General Guidelines<br />
  4. 4.<br />Consumer<br />Who is your consumer/customer?<br />What is her pain point?<br />What is your solution?<br />How will you get your first customer?<br />Key Mistakes<br />“Everyone” is my customer<br />Market Prediction is too high/too low<br />
  5. 5.<br />Team<br />What is the team’s background and experience?<br />What is the motivation to become an entrepreneur?<br />Are all relevant skills covered by the team?<br />
  6. 6.<br />Quality of Team<br />Achievements<br />Past performance<br />Sales experience<br />Business expertise<br />Commitment<br />Team bonding<br />Gaps in the team<br />
  7. 7.<br />Sales<br />What is your sales strategy?<br />Online or offline<br />Direct or distributor<br />Sales team or partners<br />What is the cost of sales?<br />
  8. 8.<br />Marketing<br />Have you covered all the 4Ps?<br />Product, Price, Place, Promotion<br />How will you market your product?<br />Medium, message, Budgets and Timelines<br />Who are the competitors? How are you better?<br />Have you done market research or made prototype?<br />Key Mistakes<br />We have “no competition”<br />Our 5 friends have told us this will work!<br />
  9. 9.<br />About the Market<br />Adequately describe the market – check if it is realistic<br />Size<br />Scope<br />Growth<br />Show a clear marketing plan, including distribution<br />Medium and message<br />Budgets and Timelines<br />Cover after sales service – need and benefit<br />Show existing partnerships - whether service providers, manufacturers, distributors, or third-party developers<br />
  10. 10.<br />Products/Services<br />Describe your company product/services completely<br />Clarify if you own or license the technology<br />Inform whether patent protection is available<br />Can your product be defended against competition?<br />What customer pain do the product/service address<br />Show the difference between you and your competitors <br />Show the potential in future products/services<br />
  11. 11.<br /> Example slide for MistakeMarketing Strategy<br />We are positioning the company as a competitive-cost, high quality, user-friendly as per consumer requirements in the market place. Marketing includes:<br />Traditional information providers such as Print and Radio Media<br />Interned advertising, along with cross promotional offers<br />E-mailers to databases<br />Multiplex branding<br />Distribution of Blue Cards through theaters<br />Outdoor branding (hoardings) and retail activites, leaflet distribution through partnership<br />College networks, social networking sites and blogging sites.<br />
  12. 12.<br />Operations<br />If you fail to plan, you plan to fail!<br />When will you start?<br />Where will you start?<br />Will you make or buy your product?<br />How will you supply?<br />What are the technology issues?<br />Key Mistakes<br />No “How to” plan<br />
  13. 13.<br />Financial Plan<br />Have you got all the revenues and costs correct?<br />Do the financials show a sustainable revenue model?<br />Are the profit margins growing?<br />What are the plans to use funds?<br />What are the plans for sourcing funds?<br />
  14. 14.<br />Question your Financial Plan<br />Has the company provided adequate and understandable current and projected financial statements?<br />Are the company’s projections realistic?<br />Do the financials show a viable and sustainable revenue model?<br />Has the company adequately considered all costs associated with developing and marketing its product/services?<br />
  15. 15. Has the company articulated the use of raised funds?<br />Has the company considered a reasonable exit strategy?<br />Have the founders contributed their own capital into the company?<br /><br />
  16. 16.<br />Competition<br />Recognize competitors<br />Show the competitive analysis, with key features and benefits<br />Present a strong and factually based reasoning for its competitive advantage<br />Identify other players in the market<br />Does the company need a first-mover position?<br />Timing advantage to make this approach succeed?<br />
  17. 17.<br />General Guidelines<br />Make a comprehensive plan<br />Complete information and analysis<br />Spend time and thought on<br />Market characteristics<br />Competition, specially differentiation<br />Follow limits for number of slides, timelines, font sizes, colors etc.<br />Keep it clean – do not clutter<br />
  18. 18. General Guidelines<br />Be Objective – talk in numbers<br />Include a Summary page<br />List out assumptions<br />Be Objective – words like better, faster etc. have to be supported by numbers<br /><br />
  19. 19.<br />Key Avoidables<br />Do not say we have “No Competition”<br />1 friend/5 colleague is not a sample size<br />Prototypes work best - Show a demo<br />Lack of sources of information<br />Clarity of figures – in lakh/crore etc.<br />“Secret” business ideas<br />