Business planning

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Business planning

  1. 1. Business Planning 06/30/10 (c) Expressive Business Strategies,Inc. 2005 - 2010, All rights reserved
  2. 2. HOW TO START A BUSINESS <ul><li>Identify a need, want or desire, then create a solution </li></ul><ul><ul><li>Make a discovery, recognize it’s utility </li></ul></ul><ul><ul><li>Recognize an advantage, exploit it </li></ul></ul>06/30/10 (c) Expressive Business Strategies,Inc. 2005 - 2010 All rights reserved
  3. 3. HOW NOT TO START A BUSINESS <ul><li>Create a need, to fit a solution </li></ul><ul><li>(Create a solution, find a need) </li></ul>06/30/10 (c) Expressive Business Strategies,Inc. 2005 - 2007, All rights reserved
  4. 4. PURPOSE OF A BUSINESS PLAN <ul><li>Blueprint for your business </li></ul><ul><li>Generate interest from prospective investors </li></ul><ul><li>Leads to a face-to-face meeting with prospective investors </li></ul>06/30/10 (c) Expressive Business Strategies,Inc. 2005 - 2007, All rights reserved
  5. 5. QUALITIES OF A GOOD BUSINESS PLAN <ul><li>Reflects major selling points of the business </li></ul><ul><li>Concise, persuasive, realistic </li></ul><ul><li>Fluid </li></ul><ul><li>Can be summarized in two sentences </li></ul>06/30/10 (c) Expressive Business Strategies,Inc. 2005 - 2007, All rights reserved
  6. 6. CREATING A BUSINESS PLAN THE FOUR BIG BLOCKS <ul><li>The Need or Want (market opportunity) </li></ul><ul><li>The Solution (your product/service) </li></ul><ul><li>Management Team </li></ul><ul><li>Financial Plan </li></ul>06/30/10 (c) Expressive Business Strategies,Inc. 2005 - 2007, All rights reserved
  7. 7. THE NEED or WANT What is it? <ul><li>What problem is your company trying to overcome? </li></ul><ul><li>How significant is the problem? (need, not size) </li></ul><ul><li>What is the evidence? </li></ul><ul><li>Do others recognize the need? </li></ul>06/30/10 (c) Expressive Business Strategies,Inc. 2005 - 2007, All rights reserved
  8. 8. THE NEED or WANT Who has it? <ul><li>Who are the customers? Who is feeling the pain? </li></ul><ul><li>How do they deal with the problem now? </li></ul><ul><li>How do they make decisions about the problem? </li></ul>06/30/10 (c) Expressive Business Strategies,Inc. 2005 - 2007, All rights reserved
  9. 9. THE SOLUTION <ul><li>Why does your product solve the problem? </li></ul><ul><li>To what extent does it solve the problem? </li></ul><ul><li>How unique is your solution? </li></ul><ul><li>How does your solution differ from competitors? </li></ul><ul><li>Is that important? </li></ul><ul><li>Is that sustainable? </li></ul>06/30/10 (c) Expressive Business Strategies,Inc. 2005 - 2007, All rights reserved
  10. 10. THE SOLUTION (continued) <ul><li>Why haven’t others done this? </li></ul><ul><li>What are the key milestones to your success? </li></ul><ul><li>What are the major risks? </li></ul>06/30/10 (c) Expressive Business Strategies,Inc. 2005 - 2007, All rights reserved
  11. 11. MANAGEMENT TEAM <ul><li>Qualifications (e.g., education, training, special abilities) </li></ul><ul><li>Experience </li></ul><ul><li>Scope of team (including consultants and partners) </li></ul><ul><li>“ to be hired” </li></ul><ul><li>Have documents and references available </li></ul>06/30/10 (c) Expressive Business Strategies,Inc. 2005 - 2007, All rights reserved
  12. 12. FINANCIAL PLAN <ul><li>Investors want funds spent on the business potential, not perks </li></ul><ul><li>The budget reflects potential NOT perks! </li></ul><ul><li>Must be realistic and achievable </li></ul><ul><li>Should show capital needs until business is self-sustainable. </li></ul><ul><li>Should explain liquidity path for investors. </li></ul>06/30/10 (c) Expressive Business Strategies,Inc. 2005 - 2007, All rights reserved
  13. 13. CREATING A BUSINESS PLAN The Mortar <ul><li>Executive Summary </li></ul><ul><li>Index </li></ul><ul><li>Overview or History of Company </li></ul><ul><li>Market Analysis, Competition (SWOT) </li></ul><ul><li>Timelines </li></ul><ul><li>Intellectual Property </li></ul><ul><li>Capital Sought </li></ul><ul><li>Appendices </li></ul><ul><li>SWOT= strengths, weaknesses, opportunities, threats </li></ul>06/30/10 (c) Expressive Business Strategies,Inc. 2005 - 2007, All rights reserved
  14. 14. PRESENTATION <ul><li>Electronic and/or hard copy </li></ul><ul><li>A chance for investors to meet the team; to sense your commitment, enthusiasm, integrity, thoughtfulness, inter-personal skills, knowledge </li></ul><ul><li>A way to provide details or sensitive information </li></ul><ul><li>An opportunity to answer questions </li></ul><ul><li>15-20 slides, 3-6 bullets/slide. Don’t read! </li></ul>06/30/10 (c) Expressive Business Strategies,Inc. 2005 - 2007, All rights reserved
  15. 15. LAUNCH PLAN <ul><li>Better to use personal contacts </li></ul><ul><li>Allow at least a week, then follow up </li></ul><ul><li>Try to get a face-to-face meeting </li></ul>06/30/10 (c) Expressive Business Strategies,Inc. 2005 - 2007, All rights reserved

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