The document provides guidance on developing an effective business plan, noting that a plan is important to clarify strategy, raise capital, and attract collaboration. It outlines the main components of a comprehensive business plan, including an executive summary, company overview, products/services, marketing plan, operations plan, management/organization, financial documents, and appendices. The document gives detailed advice on what to include under each section to clearly present the business concept, operations, marketing strategy, management team, and financial projections.
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Writing Business Plan
What Is a Business Plan?
Why do You need?
Table of contents
Describe
Introduce
Products or Services
Unique selling points
Management
Marketing
Marketing Mix
Promotional Strategy
Future Growth and Expansion
Key Success Factors
Financial documents Mistake to avoid
Growing mid-cap firm is seeking a FPA Director for the group's leadership team. Must have experience building data analytics & partnering with business. Comp =$170K+
Writing Business Plan
What Is a Business Plan?
Why do You need?
Table of contents
Describe
Introduce
Products or Services
Unique selling points
Management
Marketing
Marketing Mix
Promotional Strategy
Future Growth and Expansion
Key Success Factors
Financial documents Mistake to avoid
You need a business plan to document your business and your go forward plan. This is especially important if you are looking for financing. This outlines what is required for a business plan.
A business plan is an official statement that portrays an organization's business goals within a specific time period and ways to achieve them. It also contains information about the company as such, the founding team and their backgrounds.
A business plan is absolutely essential for raising investment and helps your investors understand your plan for the coming 3 to 5 years in detail.
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1. How to Build a Better
Business Plan
…And Why It’s Important
Jennifer Dye, MBA
Certified Business Advisor
jdye@highline.edu
206-592-4153
2. Why do I need a business plan?
• To clarify your strategy – know where you’re going and how to get there
• To raise capital – traditional bank loan, or angel/VC
• To attract collaboration – employees/Board members, etc.
3. Components of a Comprehensive Business Plan
• Executive Summary (write this last)
• Company Overview – what problem are you solving?
• Products and Services
• Marketing Plan
• Operations Plan
• Management and Organization
• Financial Documents
• Appendices
4. Executive Summary
• Professional, complete, and concise – 2 pages or fewer
• This is your “pitch” – state the reason for the request
• Should be an overview of the full business plan
• If applying for a loan, state clearly how much you
want, precisely how you are going to use it, and how
the money will make your business more profitable,
thereby ensuring repayment.
5. Company Overview
• What problem are you solving?
• Who will be your customer? (NOT “EVERYONE!”)
• Describe your industry
• Why are you best at what you do?
• How is your company structured (entity, staffing, etc.)
• What are your short and long-term goals?
6. Products and Services
• What specifically will you offer?
• Describe Key Components and Differentiation
• Include pictures, specs, drawings, brochures, etc.
• Describe your pricing model and how you came to them
(i.e. Cost of Goods Sold, profit margins, shipping, etc.)
• What gives them a competitive advantage?
7. Marketing Plan
• Research your competition and include a comprehensive
Competitive Analysis Chart
• If you are First to Market – include primary research such as
surveys, focus groups, etc.
• Include secondary research such as industry profiles, trade
journals, census data and demographic profiles.
• What is the total size of the market and what percent share of it
do you plan to capture? Why?
• What are current trends in consumer preferences?
• Who is your ideal customer and how will you reach them?
• What are the barriers to entry and how will you overcome them?
8. Examples of Charts for the Marketing Plan
Sample Competitive Analysis
FACTOR Me Strength Weakness
Competitor
A
Competitor
B
Importance
to Customer
Products
Price
Quality
Selection
Service
Reliability
Stability
Expertise
Company
Reputation
Location
Appearance
Sales
Method
Credit
Policies
Advertising
Image
Market Tactics and Strategy
Table 1: Competitive Analysis
9. Operational Plan
• Production – how and where will your products be manufactured?
• Location – Describe the type of space, zoning, utilities, etc.
• Legal Environment – licenses, permits, regulations, insurance,
trademarks, patents, etc. What is needed for your business?
• Personnel – employees, consultants, pay structure, job descriptions
• Inventory – raw materials, seasonality, rate of turnover, etc.
• Suppliers – who do you rely on for your materials?
• Credit Policies – how will you manage your A/R?
10. Management and Organization
• Professional and Advisory Support – Board of Directors, Attorney,
Accountant, Insurance Agent, Banker, Mentors, etc.
• Organization Chart – current and proposed
• Roles and Responsibilities of Key Personnel
• Expertise and Key Competencies of Executives
11. Financial Documents
Start-up Existing Company
Table 1: Competitive Analysis
• Start-up Cost Estimate
• 12-month P & L projections
• Projected Cash Flow
• Opening Day Balance Sheet
• Break-Even Analysis
• Personal Financial Statements
• 2 Years P & L Statements
• Year over Year Comparison
• Current Balance Sheet
• 3 Year Cash Flow Projections
• Break-Even Analysis w/loan
• Personal Financial Statements
12. Appendices
• Platt map of proposed location
• Samples of Brochures, marketing Collateral
• Packaging mock-ups
• Product Sheets
• Business Cards
• Customer Surveys
• Industry Studies
You may have other items that are too bulky to
include in the main report, but that your
investors may find interesting or useful:
13. The Business Plan Process
Step 1
Find your Why
Step 2
Do your
Research
Step 3
Write It!
Step 4
Share with
trusted advisors
Step 5
Present to
Investors
14. Be sure to include visuals – charts, graphs, etc.
0
1
2
3
4
5
6
Category 1 Category 2 Category 3 Category 4
Series 1 Series 2 Series 3
15. Unsure of next steps?
Ask your SBDC Advisor!
Call us at 206-592-4153
Editor's Notes
To change the image on this slide, select the picture and delete it. Then click the Pictures icon in the placeholder to insert your own image.