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Entrep_Business Plan.pptx
- 1. BUSINES S PLAN Entrepreneurship 11 Emilio Manahan Jr. Ranz Mia Antonio Jesrille Mark Bruno
- 2. AFTER GOING THROUGH THIS LESSON, LEARNERS ARE EXPECTED TO: DEFINE WHAT IS BUSINESS PLAN 01 IDENTIFY THE IMPORTANCE OF CREATING A BUSINESS PLAN 02 KNOW THE PROCESS OF CREATING A BUSINESS PLAN 03 IDENTIFY THE STRUCTURE OF A BUSINESS PLAN 04
- 3. WHAT IS A BUSINESS A business plan is an overview of the business idea, as well as a strategy for building and running it. PLAN?
- 4. A BUSINESS PLAN INCLUDES YOUR BUSINESS’S : FUNDING NEEDS OVERVIEW AND OBJECTIVES EMPLOYMENT OPPORTUNITIES
- 5. A BUSINESS PLAN INCLUDES YOUR BUSINESS’S : PRODUCTS AND SERVICES MARKETING PLAN COMPANY DESCRIPTION
- 6. A BUSINESS PLAN INCLUDES YOUR BUSINESS’S : COMPETITIVE ANALYSIS STRUCTURE APPENDICES OPERATIONAL GUIDELINES
- 7. OVERVIEW AND OBJECTIVES ● The business overview is a component of a business plan that provides a general explanation of your company. ● Business objectives are a written explanation of your goals as a business.
- 8. COMPANY DESCRIPTI ON A company description is defined as a general outline of your company as well as who you are as a business owner.
- 9. PRODUCTS AND SERVICES The products and services section of your business plan outlines your product or service, why it’s needed by your market, and how it will compete with other businesses selling the same or similar products and services.
- 10. EMPLOYMEN T OPPORTUNITI ES ● Employment Opportunities means consideration for hire, transfer, promotion, training, and non- disciplinary retention, including in any reorganization or layoff
- 11. MARKETIN G PLAN A document, or set of documents, outlining the platforms and methods a company will use to reach their target market.
- 12. MARKETIN G PLAN The typical marketing plan has five phases: Planning Phase Execution Phase Measurement Phase Analysis Phase Follow-up/Exit Phase
- 13. COMPETITIVE ANALYSIS ● A competitive analysis, also referred to as a competitor analysis, is the process of identifying competitors in your industry and researching their different marketing strategies.
- 14. FUNDING NEEDS Funding is the provision of capital. For startups, it’s the provision of capital that allows you to realize your business plan.
- 15. SOURCES OF FUNDS ARE DIVIDED INTO: EQUITY CAPITAL Equity capital is what funds you and the other entrepreneurs invest into the company. Equity can also be funds that you acquired through selling shares of the business. EXTERNAL CAPITAL External financing comes from outsider investors, which can include shareholders or lenders who may expect either a percentage of the business or interest paid in exchange.
- 16. OPERATIONA L GUIDELINES Are set of standards that the organization implement for operating procedures within the organization. These standards will depend on the goals and operational tasks of the organization
- 17. STRUCTURE ● Structure of a business plan is the overall outline of your plan. It will serve as a guide on the process of creating your business plan up to the actual business.
- 18. APPENDICES Appendices are supplementary final section of your business plan that provides additional documents and validation that your business plan is on point.
- 19. Why Do We Need a Business Plan? A business plan serves both internal and external stakeholders, and is crucial to developing your budding company in multiple ways.
- 20. A Business Plan can help us with: GUIDANCE LOANS LEASE INVESTORS PARTNERS
- 21. Generating a business plan involves putting your ideas and research into writing. COMEUPWITHA BUSINESSIDEA DOYOURRESEARCH: THE ELEMENTS OFABUSINESS PLAN APPLYTHEFINISHING TOUCHESTOYOURBUSINESS PLAN
- 22. COME UP WITH A BUSINESS IDEA In order to write a business plan, you need a winning business idea. If you’re an aspiring entrepreneur still looking for an idea, start paying attention to common problems you and the people around you encounter.
- 23. Do Your Research: The Elements of a Business Plan MARKET OPPORTUNITY BUSINESS PLAN OPERATIONALPLAN MARKETINGPLAN FINANCES COMPANY OVERVIEW PRODUCTSAND SERVICES EXECUTIVE SUMMARY
- 24. EXECUTIVE SUMMARY This section serves as a quick preview of what will follow, much like the opening paragraph of an essay.
- 25. EXAMPLE OF EXECUTIVE SUMMARY Beautiful Memories’ mission is to immortalize our clients’ wedding days by offering photography services for engagements, rehearsal dinners, wedding days, and other nuptial events. Kendra Smith started Beautiful Memories after struggling to find full service wedding photographers in the Louisville area. We plan on growing the business by expanding to new markets and adding photographers to the team.
- 26. COMPANY OVERVIEW The company overview is a component of a business plan that provides a general explanation of your company.
- 27. PRODUCTS AND SERVICES The products and services section of your business plan outlines your product or service, why it’s needed by your market, and how it will compete with other businesses selling the same or similar products and services
- 28. MARKETING OPPORTUNITY Those reading your business plan need to know why your business will be successful. Do the necessary market research to identify your company’s viability here.
- 29. MARKETING PLAN Here is where you need to explain how you’ll reach your customers. Don’t forget to include digital marketing tools like a website, a social media presence, and an email marketing strategy.
- 30. OPERATIONAL PLAN Operational Plan Parse out company logistics in this section. Detail as much as you can about how you intend to run your business.
- 31. FINANCES Investors and loan officers will be particularly interested in the financial section of your business plan. Be thorough in your research and planning
- 32. ApplytheFinishingTouchestoYourBusinessPlan • Typosandgrammatical errors willmake youandyour potentialbusinessseem unprofessional. • Youshould also eliminateany extraneousorredundantcontent.
- 33. BUSINESS PLAN Developingabusinessplanisthefirststepontheexciting roadtoentrepreneurship.Whenyoulearnhowtocreatea businessplan,youunlock thepowertosecure investments, loans,and leasesforyourcompany.Youalsobuildaninternal roadmaptosuccessforyourbusiness.
- 34. BUSINESS PLAN ApplytheFinishingTouchesto YourBusinessPlan ComeUpWithABusiness Idea EXECUTIVE SUMMARY COMPANY OVERVIEW DoYourResearch: The Elements ofaBusiness Plan PRODUCTSAND SERVICES MARKETING PLAN MARKETING OPPORTUNITY OPERATIONALPLAN FINANCES
Editor's Notes
- Business is an organization that provides goods and services to the community in exchange for money, with the goal of becoming profitable. Businesses are focused on producing items or services to sell, making a profit, and meeting a particular need for society. All individuals in a business work together toward common goals, which are dependent on the type of business.
- (BUSINESS OVERVIEW) the consumer learns about your company and its structure, values, mission and offerings. It can also demonstrate what makes your company unique from competitors. (BUSINESS OBJECTIVES) Business objectives usually have to do with the most important operating factors of a company’s success, such as revenue, operations, productivity and growth.
- A company description (sometimes referred to as an “about me” or “bio” section) Anyone who reads your company description should get a clear idea of what your business does as well as the hole you’re working to fill. The business description is meant to provide an overview of the business, including what the business does and how the company is unique from others in the same industry. This description provides extensive details outlining the business.
- A marketing plan is a document that lays out the marketing efforts of a business in an upcoming period, which is usually a year. It outlines the marketing strategy, promotional, and advertising activities planned for the period 1. Content marketing Content marketing involves using — you guessed it — your content to engage consumers. This doesn’t mean you have to create as much content as you can. It needs to add value to your audience’s lives. If you provide valuable content, you will build credibility and trust with potential customers. Which in turn will make them more likely to purchase your products or services. This means a good content marketing strategy also requires consistency and organization. You need to focus on creating quality work, while still keeping your content fresh and timely. As you produce and share your content, you’ll be able to see your business grow. 2. Search engine optimization Search Engine Optimization (SEO) is a host of practices and techniques designed to optimize your website for search engines. This is useful, because if you practice good SEO, your pages will show up higher in the search results list. And let’s not forget that nearly two-thirds of all internet traffic is generated by organic search! 3. Pay-per-click advertising Another element of online marketing is pay-per-click advertising (PPC). This advertising model allows you to bid on keywords on top search engines. When you are the highest bidder, your advertisement appears at the top of search engine results pages. Marketers often choose this strategy because it’s extremely targeted. You get to choose who to show your ads to based on location, keywords, interests, age, gender, language, and even the type of device used. This means you can advertise your website directly to the people who will be most interested. 4. Email Marketing So, what is email marketing? It’s a promotion strategy that involves sending one email message to many people. So, instead of trying to reach your customers on social media or through organic searches, you are given access directly to their inboxes — a tactic that has helped many small businesses. It’s important to note that email marketing is permission-based. Your customers have to opt-in. Otherwise, you’re not allowed to send them emails. If you’re looking for a cost-efficient and time-effective way to promote your website, consider email marketing. It’s proven to increase awareness of your business, generate repeat sales, and boost revenue. However, email marketing is especially useful for its real-time qualities. Reports show who opened your campaigns, what links they clicked, and how engaged they are. This allows you to easily measure the success of your campaigns, then adjust strategies accordingly.
- You can use this information as a point of comparison to identify your company’s strengths and weaknesses relative to each competitor.
- To cover the whole funding of your idea you will most likely need several financing sources. In general those sources are divided into equity- and external capital
- Equity Capital is Intrapersonal When the company is up and running those funds, provided you keep the profit inside the company, will increase your capital further. In short: Equity capital is defined by being at the company’s disposal for an extended period of time, without being in immediate need of paying it back. Furthermore, it’s the first asset that is liable in case of a problem Contrary to that is the external capital, which is a classic bank loan. You are aware, that this involves a strict plan for repayment. If problems arise, your own funds are the first to be liable External Capital is Interpersonal External financing comes from outsider investors, which can include shareholders or lenders who may expect either a percentage of the business or interest paid in exchange
- These standards will depend on the goals and operational tasks of the organization. Operational guidance attempts to make business more efficient through the use of intangible assets. These assets represent efforts such as coordination, information sharing, teamwork and implementing environmental protocols and other programs that the organization can adapt to suit a particular need. Operational planning is a tool used by organizations to carry out previously implemented strategies. This planning maintains responsibility for the execution and the outcome defined by the strategy. The plan should also go into detail about the operations at the initiative level by producing measurable goals with accountability and governance. Further, the operational planning should take into account contingencies and allow the organization to plan accordingly to overcome these contingencies. Both operational guidance and operational planning help businesses achieve operational success.
- It lends enhanced credibility through visuals, legal documents, and other supporting documentation, assuring your supporters that you have done your diligent research and preparation to ensure that your plan is a success
- It will help you steer your business as you start and grow. Think of a business plan as a GPS to get your business going. A good business plan guides you through each stage of starting and managing your business. You’ll use your business plan like a GPS for how to structure, run, and grow your new business.
- Guidance: A business plan can act as a roadmap, helping you and your team stay focused on your goals. Loans: Most banks need to review your business plan before they can approve a small business loan. Your business plan shows the loan officer you’re serious about your new venture and that you’ve considered the challenges and risks involved. Lease: Similarly, a landlord may ask to see your business plan before confirming a rental agreement. Commercial leases are typically for three to five years, and landlords want tenants they believe will be in business for at least that long. Investors: If you want to bring investors into your venture, you’ll need to prove the viability of your company. A well-developed business plan shows that you’ve done research on the market, your competition, and how to succeed. Partners: In the same way a good business plan will help you draw in investors, it can also help to attract potential partners.
- For example, you might notice your newlywed friends complaining about how hard it is to find a photographer who doesn’t take cheesy engagement photos. This problem could inspire you to start your own photography business. Or, if your friends want to buy a home, but hate the idea of maintaining a yard, perhaps you could launch a landscaping service. While you’re brainstorming, remember — successful businesses solve problems.
- Once you have a business idea you’re excited about, start conducting research to flesh out your business plan. Use your business plan to answer the questions others will have about your business and how it will be successful. Then, organize your research into the following categories:
- Use the executive summary to quickly explain: What is your company’s mission? What are your products or services? What is your company’s story? What are your plans for growth?
- Think of the company overview as an elevator pitch. What will the business do? What problems will it solve? Who is your ideal customer? How are you different from the competition?
- Use this section to expand on your business model, answering questions such as: What will the company sell? How will the company make money off of those products or services? What is your pricing model? Be specific. How does your pricing compare to what your competitors charge?
- What is the size of your target market? Who is your ideal customer? What’s your potential for revenue? Who is your competition? How will you set yourself apart?
- How will you sell your products or services? Will you sell directly to consumers or to business? Will your products be sold individually or wholesale? If you choose a third party reseller, what kinds of retail outlets will you target? What kind of advertising efforts will you focus on
- How will products be manufactured? Where will your offices/retail locations be? What kind of a staff do you need? How do you plan to expand the business over time?
- What investments do you already have? How much more funding do you need? What are your current account balances? What is your sales forecast?
- Once you’ve thoroughly answered the most important questions about your proposed business, you’ve essentially created a business plan. All that’s left is to polish it. After you’ve written your business plan, go over it with a fine toothed comb It’s a good idea to give it to a friend who can look at it with fresh eyes. Investors and lenders don’t want to read a book about your business. Be respectful of their time and present them with a business plan that is concise and clear.
- As we bring our discussion about business plan to a close, thank you for listening to us and we hope that this discussion has given you somuch clearer understanding about business plan