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Ecorl oer-ysb-business-plan-training-deepening
- 1. Business Plan Training Erasmus Plus ECORL Project
- 2. Buildingabusinessplan Yunus Social Business 1 Objectives of the training: ▪Understand the differences between a business plan and project proposal ▪Understand the differences between a business plan and a social business plan ▪Learn/ Understand the basic parts of a business plan step by step ▪Why is the business plan an important document for different stakeholders
- 3. Yunus Social Business 2 What is a business plan? A detailed presentation about your organization’s (scaling) plans that demonstrates how it will succeed in financial terms AND the social impact that it will create.
- 4. A Road Map Business plans chart the course to realize the organization’s vision. 2 new senior Staff hired To Vision Social Entrepreneur Acquisition up 20% 25 Links between business & citizen’s sector Yunus Social Business 3 Soci
- 5. Why do you Need a Business Plan Yunus Social Business 4 • A planning framework • Checks business feasibility • Is a managerial tool for resource alocation and decision making • Helps the manager to think: oIn which stage is the business actually? oWhat is it aimining? What are the future plans • Evidence of the nonprofit’s ability to conceive and execute scale • Articulates financial needs and uses of funds • Shows the business potential tp produce and grow • Shows the entrepreneurs level of knowledge about the business • Shows a good return on investment • Communications Tool For the EntrepreneurFor investors/Donors
- 6. Yunus Social Business 5 Business Plan Purposes • Articulates vision and mission • Sets goals and objectives • Defines strategies and specific actions to achieve objectives • Measures results • Communicates ideas, plans & social value • Projects necessary resources, expenses, & revenues Provides a basis for SOUND decision-making
- 7. Yunus Social Business 6 Business Plan vs Project • Doesn’t change during the project life • Process driven • Donor driven • It’s a closed document – within a time limit • BP is a flexible document that changes according to market forces • Is result driven • Market driven • Is a work map • It’s an open document ProjectBusiness Plan
- 8. Yunus Social Business 7 General rules ✓Be clear and attractive • Use bullet points • Balance creativity while still getting your point across • Use short paragraphs (1-3 sentences per paragraph) • Use the jargon of the sector in which the business operates • Write with objectivity ✓Fokus more on near future (1-2 years), less on later years (valid especially for small businesses and startups)
- 9. Anatomy of a Business Plan Market Research Human Resource Plan Concept & Objectives Vision Mission Operations Plan Marketing Plan Financial Plan
- 10. Business Plan Structure Yunus Social Business
- 11. Business Plan Structure Yunus Social Business 9 8 Soci • Cover • Executive Summary • Table of Contents 1. Business Description 2. Market Analysis 3. Organisation 4. Marketing and strategies 5. Financial Management 6. Apendix
- 12. Financial Plan Financial Plan Businessplansections Vision Mission Operations Plan Objectives Human Resource Plan Financial Plan Marketing Plan Yunus Social Business Contingency Plan 10 Market Research: Target Market Competitors/external factors Business Assessment
- 13. CoverSheet Yunus Social Business 11 ✓Identity Information • Your name and the business name • Business Logo • Adress • Phone Number • E-mail ✓Submission Date
- 14. Yunus Social Business 12 ExecutiveSummary ▪Define problem, solution, business model, and why your solution is better ▪Most important part of your plan and usually written last ▪Grab readers attention ▪No more than 2 pages! ▪Write it last!
- 15. Most important questions an investor asksI ., Executive Summary Idea description • What is your business idea? Inwhat way does it fulfill the criterion of uniqueness? • Who are your target customers? • What is the value for those customers? • What market volume and growth rates do you forecast? • What competitive environment do you face? • What additional stages of development are needed? • How much investment is necessary (estimated)? • What long-term goals have you set? Yunus Soc1al Business 13
- 16. TableofContents Yunus Social Business 14 ✓Includes page numbers ✓List of headings • Major • Subsections
- 17. Yunus Social Business 15 Business Description ✓Business Concept • Shortly describes the business model • Mission Statement, Objectives • Legal structure of the business • General strategy plan • The founders/Entrepreneurs
- 18. Yunus Social Business 16 Business Description ✓Social or/and environmental impact • The social or envirnomental problem that your product/service is trying to solve • Target social beneficiaries: characteristics, number of beneficiaries (persons or families), geografic distribution • How is the social business solving the social problem • What type of benefits is your social business providing to these target groups. • Social KPIs
- 19. Yunus Social Business 17 Business Description ✓Detailed description of the product / service. • How it is made / delivered. • The experience you have with the process. • What equipment the process needs (should tie in with the financial projections later). • How you will assure quality. • Why should your customers buy it
- 20. Yunus Social Business 18 Market Analysis ✓Industry/Sector Analysis: • Market background • Industry-wide information, trends • Local industry information, trends • Market capture and expectations • Social, economic, legal, technological issues
- 21. Yunus Social Business 19 Market Analysis ✓Target Market • Customer definition, consistency • Individual customer demographics –Location, age, gender, occupation –Ethnic group, lifestyle, education, income • Business customer demographics –Sector, location, structure –Sales level, distribution classification, number of employees • Why would your target clients buy your product? • How much would they pay? • What is the size of your market?
- 22. Yunus Social Business 20 Market Analysis ✓Competitors • Everyone has competitors! - Make sure that your readers know that you understand the industry and external environment • Provide a complete view of the competitive landscape • Direct and indirect competitors • Current and anticipated competitors • Trends in the competitive companies • Why your company is superior? • SWOT Analysis (strengths, weaknesses, opportunities, threats)
- 23. Marketing and sales Yunus Social Business 21 • Define your primary, secondary, and other audiences • Marketing mix: 4 Ps • Product • Promotion • Price • Place • Marketing Strategies • Distribution Channels • How will you find, sell, and retain customers? • Advertising and promotion budget • Identify your leverage points
- 24. Operations Yunus Social Business 22 ✓Activities/Processes and resources • What are the main acitivities of your business • What are the physical resources, space, human resources and financial resources needed? ✓Logistics • plant location, facilities needed, space requirements, capital equipment needed, labor requirements • How will you get your equipments (rent, lease, buy)
- 25. Yunus Social Business 23 HumanResourcePlan • Management team • Roles & responsibilities of various actors • Staffing and recruitment plan • Necessary know-how • Incentives and reward systems • Governance • Capacity building plan • Staff, institution, target group
- 26. Yunus Social Business 24 Financial Management ✓ How much money do i need? Determine start up costs and estimate monthly operating costs to determine your working capital needs
- 27. Yunus Social Business 25 Financial Plan THE PRIMARY EVALUATING TOOL ◦ Support all information ◦ Make conservative projections • Start-up Budget: amount needed to open • Operating Budget: ongoing expenses once open • Sources and Uses Sheet
- 28. Yunus Social Business 26 Financial Projections ✓Cash Flow Projections ✓Income Projections ✓Balance Sheets ✓Assumptions • Project for at least 3 years, possibly 5. • Your numbers need to be “defendable.” • Make sure that your projections stick with what you’ve said earlier in your plan. • Explain your underlying assumptions in terms that the reader can understand, like # of customers, market share, hits on your web page, etc
- 29. Risk Analysis • Build capacity to make accurate projections • Add in buffer for expenses • Use “what if…” scenarios • Sensitivity analysis for major decisions ◦ Major expense categories • Test business plan assumptions • Objectivity Yunus Social Business 27
- 30. Soci
- 31. Current Status Yunus Social Business 28 ✓Describe your major milestones and tasks • Technology • Fundraising • Customer Development, etc. ✓Where are you now? ✓Brag about your accomplishments ✓Talk about the next steps
- 32. Yunus Social Business 29 Proposed Offering • Desired financing • Offering • Capitalization • Use of funds • Investor’s return
- 33. Yunus Social Business 30 Apendix ✓Includes suplemental information about the business: • Manager’s CV • Financial Statements • Personal Income Statement • Copies of legal documents • Reference Letters • Every document that might add value to the business plan.
- 34. Yunus Social Business 31 Behind a success there is always a good plan… Plan Fact Proces
- 35. Yunus Social Business 32 Business Plan Training