Business plan ed r

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Business plan ed r

  1. 1. Business Plans In Detail
  2. 2. Business Planning <ul><li>&quot;In preparing for battle I have always found that plans are useless, but planning is indispensable.&quot; </li></ul><ul><li>- Dwight Eisenhower </li></ul><ul><li>“ Those who fail to plan, plan to fail.” </li></ul><ul><li>- George Hewell </li></ul>
  3. 3. The (very) Basics of a Business Plan <ul><li>Executive Summary </li></ul><ul><li>Company Overview </li></ul><ul><li>Market Environment </li></ul><ul><li>Marketing and Sales Strategy </li></ul><ul><li>Operations </li></ul><ul><li>Financial Plan </li></ul>
  4. 4. Your Business Plan Will... <ul><li>Discuss a particular market opportunity. </li></ul><ul><li>Examine the markets that you will compete in, and explain who your customers will be. </li></ul><ul><li>Describe the products or services that your company will provide. </li></ul><ul><li>Your competition, and how you will defend against it. </li></ul><ul><li>The operation that you will put in place in your company. </li></ul><ul><li>The management team that will implement the plan. </li></ul><ul><li>The size and profitability of your company. </li></ul>
  5. 5. Executive Summary <ul><li>The written version of the “60 second pitch.” </li></ul><ul><li>Many people who read your plan, will only read your Executive Summary... </li></ul><ul><li>...and then they may read your financials. </li></ul><ul><li>NOT an introduction, but a short version of the whole plan. </li></ul>
  6. 6. Company Overview <ul><li>Explanation of history, structure, and organization of your company. </li></ul><ul><li>Strategic direction </li></ul><ul><ul><li>Mission statement. </li></ul></ul><ul><ul><li>Goals and objectives. </li></ul></ul><ul><ul><li>Values and vision. </li></ul></ul><ul><li>People </li></ul><ul><ul><li>Relevant skills and expertise of management team. </li></ul></ul><ul><ul><li>Directors. </li></ul></ul><ul><ul><li>Relationships with experts in the field. </li></ul></ul>
  7. 7. Market Environment <ul><li>All factors of the market that are outside your direct control: </li></ul><ul><ul><li>Market structure </li></ul></ul><ul><ul><li>Market trends </li></ul></ul><ul><ul><li>Competition </li></ul></ul><ul><ul><li>Opportunities/Threats </li></ul></ul>
  8. 8. Marketing and Sales Strategy <ul><li>Products or services offered. </li></ul><ul><li>Follow-on products. </li></ul><ul><li>Intellectual property or other defendable positions. </li></ul><ul><li>Market research. </li></ul><ul><li>Marketing plan. </li></ul><ul><ul><li>Brand strategy. </li></ul></ul><ul><ul><li>Distribution strategy. </li></ul></ul><ul><ul><li>Product strategy. </li></ul></ul><ul><ul><li>Pricing strategy. </li></ul></ul><ul><ul><li>Promotion. </li></ul></ul>
  9. 9. Operations <ul><li>Practical details required to meet the plan. </li></ul><ul><li>Facilities. </li></ul><ul><li>Manufacturing or out-sourcing. </li></ul><ul><li>Personnel. </li></ul><ul><li>Varies widely depending on type of business. </li></ul>
  10. 10. Financial Plan <ul><li>Three key reports, in a five-year plan: </li></ul><ul><ul><li>Income statement. </li></ul></ul><ul><ul><li>Balance sheet. </li></ul></ul><ul><ul><li>Statement of cash flows. </li></ul></ul>
  11. 11. Ideas Presentation --Format <ul><li>Prepare 2-3 ideas that you think could be developed into good opportunities. </li></ul><ul><li>They can be ideas for new businesses, or a new opportunity inside an existing business. </li></ul><ul><li>Use the 5Q format as a guide. </li></ul><ul><li>Be prepared to defend your ideas in front of a group of professionals from different areas. </li></ul>
  12. 12. Format <ul><li>You must get your ideas across clearly and concisely . </li></ul><ul><li>Present your “best” idea first (if you have more than one). </li></ul><ul><li>For each idea: 3 slides, 3 minutes </li></ul><ul><li>Bring 5 sets of your slides for handouts (on one page – 3 slides per page) </li></ul>
  13. 13. Format <ul><li>Some tips: </li></ul><ul><li>Don’t waste time on long introductions. </li></ul><ul><li>Be passionate, convincing, interesting. </li></ul><ul><li>Tell a story. </li></ul>

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