Berks biz plan
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A business plan describes how a company creates, delivers, and captures value. It is needed by entrepreneurs, owners, managers, lenders, and investors. A business plan can help start-ups define their work, save resources, identify customers and pricing, and attract capital. For existing businesses, a business plan can help identify new products, customers, and efficiencies to improve profitability. A traditional business plan includes sections on executive summary, company description, market analysis, organization, products/services, marketing, funding requests, and 3-5 year financial projections.
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Berks biz plan
- 1. Business Planning Berks County Ag Innovation February 20, 2014
- 3. What is a Business Plan? A description of how an organization: Creates value Delivers value Captures value 1. Makes a product or service 2. Reaches customers 3. Makes a profit
- 4. Who Needs a Business Plan? Entrepreneurs/Beginners Owners Managers Landlords Lenders Investors
- 5. What Can a Business Plan Do for Start-ups? Define your work Save your resources Identify potential customers Determine pricing Attract capital Create opportunity
- 6. What Can a Business Plan Do for Existing Businesses Identify new products Identify new customers Improve efficiency/productivity Eliminate or reduce waste Open new possibilities Get ahead of your competition Boost profit
- 7. Traditional Business Plan Components Executive Summary Company Description Market Analysis Organization & Management Structure Service/Product Marketing & Sales Funding Request Financial Projections (3-5 years)
- 8. 9 Key Questions for a Model 1 Who are my most important current and potential customers? 2 What value do I create and deliver? 3 How do I reach my customers?
- 9. … Building a Better Model 4 What type of relationship does my customer want with my business? 5 What values will customers pay for? 6 What are the essential resources my business requires?
- 10. … Building a Better Model 7 What are the important actions for my success? 8 What partners are necessary to my business? 9 What are the key costs of my business?
- 11. Same Questions Different Answers Roadside Stand Pastured Poultry
- 12. Same Questions Different Answers Vegetable CSA Grass-fed Beef
- 14. Who Provides the Answers? o Business operator o Managers o Staff o Family members o Existing customers o Potential customers o Competitor research o Industry analysis
- 16. Prep, Gather, Build • What the process can look like • Allow time • Set the scene • Call it what it is: Planning Retreat
- 17. “Old School” Print Resources Business Model Generation by Alexander Osterwalder & Yves Pigneur Fearless Farm Finances by MOSES (Midwest Organic & Sustainable Educations Services The Organic Farmer’s Business Handbook by Richard Wiswall Raising Dough by Elizabeth U
- 18. Online Sources for Assistance http://www.score.org/resources/business- planning-financial-statements-template- gallery http://nebeginningfarmers.org/farmers/planni ng-2/business-plan-templates/ http://www.beginningfarmers.org/farm- business-planning/ http://www.sba.gov/category/navigation- structure/starting-managing-business/starting- business/how-write-business-plan
- 19. “Your business model is NOT your business. It’s a method of inquiry to help you understand what to do next.” Matthew Milan
- 20. Today’s Free Take-aways “If you find yourself in a hole, the first thing to do is stop digging.” “Good judgment comes from experience, and a lot of that comes from bad judgment.”
Editor's Notes
- About me. ED Lundale Farm, historic,libe of congress, mission for new farm creation on leased land. Previously PASA eastern reg dir. Hospitality industry chef, corporate food service sales & operations, CEO White Dog Café, owner operator Summerhouse Grill Susq PA.Last year joined Fox School of Business, adjunct faculty project manager for teams of Pro MBA students.
- How many of you are running a business now? How many are thinking about starting-up a business?How many of you have business plans?If you don’t know where you are going, how can you hope to get there? Maybe you wander off and get lost. Worse is not going far enough, to profit. Let’s start with what a plan is.Business plan is that roadmap-helps keep you on track, lets you know where you are helps you make decisions along the way.Painful---groan zone.
- Everyone. Plan can be the common language you all share. Farmers your Farm Plan or planting plan or grazing plan is not the same as a business plan---not useful to non-farmers. Plan helps you think about the entire shape of your business from start to finish, every piece along the way.
- Examine your assumptions---are they still true? What has changed since you started? Nothing stays the same.
- Standard business school model and still very valid. Resources at the end to connect you with templates and information.We’re going to take a more 21st century approach, and look at your business as something you can design to meet your particular situation.
- Only you can answer these ? for your business—don’t kid yourself with the answers. ASK THE GROUP!2. What is VALUE? what you have to offer (products, services) but also Communication, distribution, sales, education 3. Reach- enabling purchases, getting product to customers, providing post-purchase support
- 4. Personal service, automated, self-serve, “user communities” to get feedback on products and uses?5. Different customers may pay different fee structures- pick up vs delivery, subscription vs day of sale, wholesale vs retail6. Resources can be physical (buildings, equipment, distribution networks),human (employees and partners), financial. Am I paying for something I am not using or could get more cheaply another way?
- 7.What activities do I do that are essential to my business? Am I spending time doing other things that are not essential?8.Who do I work with now who helps my business? Could I use additional partnerships?9.What am I spending money on and how does it relate to my essential services?
- How are the customers different for these businesses?What VALUE do each of the businesses provide to customers?How do you reach these customers?What type of relationships are you likely to have with these customers?
- What values are customers paying for here?What resources does each business require?What actions are necessary for success?What partners are necessary?What are the key costs?
- Here’s the way to organize the information we just described. You use sticky notes and get them all up here then begin to look for key information.
- Who do you need to help you? People close to the business, people outside the business, industry info.
- Prepare:Establish the why? And maybe the how long?Gather: interviews, reading, shoppingBuild: make the information useful by mapping and deciding where it pointsTest: prototyping—change is hard and stressful. Walk before you run. If it works, then implementManage: how is it working? What do we need to tweak? Have clear benchmarks for success you can measure impact
- Half Pint Farm in VT used to take a trip somewhere warm every January for their tax-deductible “Planning Conference”. Smart idea!
- Special shout out to BusinessModel Generation
- Take flight!