The document discusses business planning and strategy for startups. It emphasizes that the planning process is more important than just writing a business plan document. An effective strategy involves thorough thinking, researching, testing and planning. It also stresses the importance of understanding customers, positioning the business appropriately in the market, developing realistic sales and financial forecasts, and having a solid understanding of operations and people needs. The business plan should communicate the company's objectives, priorities, and steps but also establish viability through its financial projections.

1. Business Planning BRIAN O'KANE

2. THE HARSH REALITY 50% of start-ups fail Poor business planning “ Write a business plan” Emphasis on writing, not on thinking THINK, THINK, THINK !

3. PROCESS vs OUTPUT PROCESS separate from OUTPUT PROCESS = Thinking, researching, testing, planning OUTPUT = Business plan document

4. BUSINESS PLANNING PROCESS        Think Plan Do

5. STRATEGY

6. MISCONCEPTIONS Strategy is for big companies only You need an MBA to do Strategy There's no point planning, since things change

7. Unsuccessful strategy 1 All fogged up

8. Unsuccessful strategy 2 Sunday driver

9. Unsuccessful strategy 3 Rose-tinted spectacles

10. Unsuccessful strategy 4 If we make it, they'll buy it!

11. Unsuccessful strategy 5 Blind leap of faith

12. Unsuccessful strategy 6 Juggling too many things at once

13. STRATEGY Imagining Planning Deciding Taking control

14. STRATEGY Where do you want to go? Where are you now? How do you get there? Focus usually on HOW? More important questions: WHAT? WHY? Strategic box Business plan – THINK, not WRITE

15. STRATEGIC BOX Values Passion Vision Mission Positioning Resourcing

16. OTP STRATEGY Passion Our passion is enterprise. Thinking about it. Writing about it. Talking about it. Doing it. Helping with it. Making it happen. Vision OTP will be known worldwide as the best in developing successful methodologies and resources for entrepreneurs, MSMEs and enterprise support organisations. Mission Helping entrepreneurs to achieve their potential.

17. Vision WHAT ? WHY ?

18. Vision 2 I want to own and run a uniquely personalised career advice service, which really understands people’s difficulties in choosing a career and works with them to find their best fit in the job market. I want this service to have a 99% first-time success rate in matching people to the right careers (not just the next job), as measured by the people themselves. I want this service to be available not just locally but, in time, nationally and even globally, at a price that everyone can afford.

19. Vision 3 Challenges: Personalised service. Really understanding people. Finding the best fit in the job market. 99% first-time success rate. Matching people to the right career, not just jobs. Success rate measured by customers. National – even global – distribution. Affordable price.

20. Vision Must: Link to Values & Passion Link with future trends Set a challenge Motivate Take the long view

21. Mission Vision: Where you want to be Mission: How you bring people there with you

22. Positioning Vision: Where you want to be Positioning: Where market thinks you are VW Phaeton Stg£43k – £68k € 65k - €103k

23. Branding Something that makes people pay more for your product, even though it's the same as a competitor's VW Sharan € 38,820 SEAT Alhambra € 33,600

24. Targets Vision: Where you want to be Targets: Goals that are closer to home What do you want to achieve next year? Next month? In the next three or five years? Where will you be on your road to achieving your Vision at a particular point in time? Your targets are the milestones that make clear and communicate your Vision.

25. FORMALITIES

26. Formalities Legal structure Bank account(s) Exposure to liabilities & loss Licences Intellectual property rights

27. MARKETING

28. MARKETING Satisfying needs .. profitably Elements: Customers Competition Image 4 Ps (product) / 3 Ps (service) Marketing plan Sales forecast

29. MARKET RESEARCH Keep it practical Sources of information What do you want to know? Do it yourself Core of your business (plan)

30. MARKETING • 4 Ps (PRODUCT) Product Place Price Promotion 3Ps (SERVICE) Physical presence Perception People All linked

31. SALES FORECASTS Evidence Get forward orders! Be realistic Ultimate purpose of marketing is SALES Link sales forecasts to your promotion activities

32. MARKETING SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES, SALES

33. MARKETING Understand your customers' needs Set targets Combine all elements of the marketing mix Link to finances / cashflow Get hard evidence where possible

34. PROCESS & PEOPLE

35. BUSINESS PROCESS 4 elements: Buy Make Sell Manage / Infrastructure Visualise your process Resource implications Space Equipment Staff

36. PEOPLE Analysis of skill levels Now Future need Key staff Retention Part of resourcing of strategy Management capabilities

37. PEOPLE Human capital more important than financial Knowledge base Organisational structure Passion / unity / commitment Entepreneur as manager Which areas are critical? Job descriptions Cost Formalities Outsourcing

38. MANAGEMENT Delegation Communication Formalities Ongoing development Retention Reward Develop policy/systems Review skills levels

39. BUSINESS PLANS

40. BUSINESS PLAN BENEFITS The road map or guide to the future Not written in stone, but a plan nonetheless Establish objectives, prioritize, specify steps Cash flow is not profits and is not intuitive It is, however, critical to success Communicate Banks, investors, partners, family

41. CRITICAL QUESTIONS Who are you? What is your product? Who will buy your product? Why do they buy your product? What price will your customers pay? How many will they buy at this price? How many can you make? How much does each unit of product cost you to make? How much investment do you need to get started? Have you a viable business?

42. PROCESS & OUTPUT Exec Sum Intro Project Outline Ownership Mkt'g Production Finance & Funding App'x My product I am Start-up investment Viable business ? My customers: Are / Will buy / Will pay I can make It costs to make In summary

43. WRITING A BUSINESS PLAN Assemble information from your research Use template / software Start in the middle Reflect your plans in the financials Write for the audience

44. INTRO / EXEC. SUMMARY Brief / concise / relevant Tailored to audience Key messages – emphasise achievements What do you want from the reader? Ooomph! Last part to be written CRITICAL

45. TAILORING BUSINESS PLANS Different plans for different audiences Level of detail Level of confidentiality Nature of relationship with reader Why do YOU want the person to read the BP? Why do THEY want to read the BP (if at all)?

46. BUSINESS PLAN ISSUES Raise your sights! Marketing – where will the sales come from? Financials – realism/sensitivity? Text / Evidence / Numbers SHOW ME THE MONEY !!

47. Questions / queries: [email_address] www.startingabusinessinireland.com