The document provides guidance on developing an effective business plan, outlining its key components and elements. It explains that a business plan tells the entrepreneur's story by describing the purpose, current status, needs, markets and projected results of the venture. The major sections identified include an executive summary, product/service description, market analysis, marketing strategy, operations, organization, financial projections, and action plan. The document emphasizes that a good business plan should be clear, error-free, concise, realistic and convincing.

1. Developing a
Business Plan

2. Aim of Session
 Toprovide an opportunity for
participants to be exposed to strategic
business development skills which will
assist in the preparation of an effective
business plan

3. What is a Business Plan?
 The written document that details a
proposed or existing venture. It seeks to
capture the vision, current status, expected
needs, defined markets, and projected
results of the business. A business plan
"tells the entrepreneur's story" by describing
the purpose, basis, reason and future of the
venture.

4. Features of a Good Business Plan
 Clear
 Error Free
 Concise
 Realistic
 Convincing
 Sequential (systematic)

5. Elements of a Business Plan
• Executive Summary
Brief summary of all the aspects of the
business plan
- History or background of the business
- Mission Statement
-Goals and Objectives
-Keys to success
-Financing requirements

6. Elements of a Business
Plan
• Product/Service Description:
What are you offering
• Market Analysis:
Who are you selling to or Who will buy
your product

7. Elements of a Business
Plan
• Marketing Strategy:
How will you get your products and
services to the target market
• Operations:
How will the business be operated
• Organization:
Who will manage the business operations

8. Elements of a Business
Plan
• Financial Projections
What are the costs associated with
producing the product and the expected
returns on the investment

9. What is a Mission Statement
 Isa declaration of what the
business aspires to be
e.g. - the reason for existing
- clarification of who it serves
- what it hopes to achieve
- an inspiration to the people
who contribute to its success

10. OUR MISSION
To be a dynamic, international, multifaceted
investment institution that operates in a caring,
loving and fun environment where employees
are creative and content.
Ensuring customer satisfaction through optimum
use of technology and continuous improvement
on a path of excellence where solidity, ethics,
credibility and openness are hallmarks of our
existence as experts in all aspects of our
operation.

11. Setting Business Goals
What are Goals?
A goal is a statement that:
– clearly describes actions to be taken or
– tasks to be accomplished by a company, a
department or an individual.
A business will have a number of goals, each
describing a desired future condition toward
which efforts are directed.

12. Characteristics of a
Business Goal
 Derived from the mission statement
 Task-oriented
 Futuristic
 Specific
 Challenging

13. Examples of Business
Goals
 To maximize profitability by 50% in the
next 5 years

14. Setting Business Objectives
What are Objectives?
An objective is a statement, derived
from a business goal. This is the
planned action that will be aimed at
or states how you’ll achieve your
Goal.

15. Setting Business Objectives
S - specific
M - measurable
A - accurate
R - realistic
T - timely/time bound
e.g. Increase promotion budget 20%

16. Analysis of the Market
• industry Analysis: Growth pattern, size
• Market definition – age, sex etc.
• Customer Profile and Needs
Demographics, psychographics, age etc.
• Competition – major player, who shares
market with you

17. Marketing Strategy
• Product Strategy
• Pricing
• Distribution
• Promotion and Advertisement

18. Operations
o Location
o Capacity
o Procurement (transportation, storage, etc.)
o Production Method (Process Flow)
o Quality Control

19. Organization
• Organization Structure
• Management Structure
• Skill Requirement
• Key Personnel
• Use of Technology
• Training requirement

20. Financial Projections
• Financial Strategy – How
• Projected Cash Flow – Monthly for first 12
months
• Profit & Loss Statement
• Projected Balance Sheet

21. Action Plan
 Activities cost Timeline
 Build facility 500 November

22. THANK YOU!
Jamaica Business Development Centre
14 Camp Road, Kingston 4
Telephone: 928-5161, Fax: 928-8626
Email: info@jbdc.net
Website: www.jbdc.net