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How to write a business plan 10 sep12
The document outlines the importance of writing a business plan, framing it as a vital tool for market analysis, management guidance, and attracting stakeholders. It emphasizes the use of the business model canvas for designing business strategies, identifying customer segments, and defining resources and activities essential for success. The text concludes with key principles of effective entrepreneurship, focusing on leadership, goal-setting, and the experiential nature of entrepreneurship.
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How to write a business plan 10 sep12
- 1. How to Writea Business Plan Prof. Steven A. Gedeon BSc, PEng, MSc, MBA, PhD
- 2. Why Write aPlan? • Writing is a Guide to Thinking • Analysis Tool to Research the Market and How to Deliver • Marketing Tool to Excite Others to Join Your Adventure (Investors, Clients, Employees…) • Figure Out What to Do • Guide to Management Action!
- 3. “Try Not! DO orDO NOT, There Is NO TRY!”
- 4. The Entrepreneurial Process Design Marshall Grow Spot Business Business Plan Resources & Adapt Opportunity Model Launch Change
- 5. The Entrepreneurship Program Ent Basics Intellectual Property THEORY Ent Theory Ethics Innovation Law Economics Strategy Operations Management Design Marshall Grow Spot Business Business Plan Resources & Adapt Opportunity Model Launch Change Leadership Marketing Sales Negotiating Finance Accounting SKILLS Communication Teamwork Project Management
- 6. Entrepreneurship DOMAIN KNOWLEDGE Design Marshall Grow Spot Business Business Plan Resources & Adapt Opportunity Model Launch Change BUSINESS INSIGHT
- 7. Design Business Business Plan Model • Business Model Canvas as a Design Tool • Rapid Prototyping • Good for Brainstorming • Good for Explaining • “Figure Out” the Business before you Waste Your Time Writing the Plan
- 8. Viable Spot Opportunity Entrepreneurial Opportunities Your Market Situation Context
- 9. Spot Opportunity • Exciting toYOU! • A Well-Defined “Niche” (“Small Area”) • You Can Acquire the Resources to Pull it Off (i.e. something YOU can actually do) • This is Normally an Entire Course (or Lifetime of Hard Work and Experience!)
- 10. Design Business Model • Most Elements in the Business Model Canvas will end up in your Business Plan • The Canvas is a Design Tool to Visualize Key Business Elements on a Single Page – Good Tool for Brainstorming – Good Tool for Prototyping – Good Tool for Explaining
- 11. The Business ModelCanvas Free First Chapter of Book at: http://www.businessmodelgeneration.com/downloads/businessmodelgeneration_preview.pdf
- 12. Customer Segments • FocusFocus Focus • Big Useless Numbers vs a Guide to Management Action • The Market Will Tell You Everything You Need to Know if you Bother to Ask • Get “Into the Mind” of Your Customers
- 13. Value Propositions • Benefitsvs. Features • 10X Improvement • Differentiation – How are you Different from your Competition?
- 14. Channels • How doyou Find Your Customers? • Is the Channel Part of Your Overall Value Proposition? • Channel Conflict • Cost of Sales
- 15. Customer Relationships • One-OffPurchase or On- going Relationship? • Self-Serve, Full-Serve
- 16. Revenue Streams • Howdo you Make Money? • Many Revenue Models – Subscription – Advertising – Transaction Fees – Buy Low, Sell High… • Don’t Need More than One!
- 17. Key Resources • WhatCan You Do that Nobody Else Can Do? • How Different are Your Key Resources? • Core Competencies
- 18. Key Activities • WhatSpecific Activities will lead to Strategic Advantage? • What Activities will Customers Love?
- 19. Key Partnerships • Suppliersvs. Partners • Partners are Involved in Delivering Value • Differentiation through a Bundle of Partners
- 20. Cost Structure • CostDrivers – Cost of Customer Acquisition vs ARPU • Break-Even
- 21. The Business ModelCanvas
- 27. Design Business Business Plan Model • Business Model Canvas as a Design Tool • Rapid Prototyping • Good for Brainstorming • Good for Explaining • “Figure Out” the Business before you Waste Your Time Writing the Plan
- 28. Entrepreneurship Thinking Design Marshall Grow Spot Business Business Plan Resources & Adapt Opportunity Model Launch Change Doing
- 29. Business Plan Overview • Executive Summary 1. Mission, Goals & Objectives 2. The Business Overview 3. Market Analysis 4. Key Success Factors (Strategy) 5. Marketing Plan 6. Operating Plan 7. Management Team 8. Financial Plan 9. Targets and Milestones • Summary
- 30. Marshall Gaining “Traction” Business Plan Resources & Launch
- 31. Marshall Gaining Traction Business Plan Resources & Launch • Identify the Opportunity (Start with an Idea) • Design the Business Model (Use the Canvas) • Analysis (Gather Info, Meet with Customers) • Validate Key Success Factors • Validate Goals and Finances • Verify Customer Interest (Key Reference Accounts) • Marshal Scarce Resources (Signed Contracts) • Implement the Plan (Exchange Cash) • Monitor and Revise the Plan (Reporting and Governance)
- 32. Marshall Grow Keys to Success Resources & Adapt Launch Change ACTIONS GOALS VALUES & BELIEFS REALITY
- 33. Keepin’ It Real •Be Really Good at Something! • Know Your Stuff! – Know your Customers, Competition… • Meritocracy – You Must Deserve to Lead! • Fantasies and B.S. Don’t Work
- 34. Make Deep Connections •Be Really Important! – To Customers, Employees, Stakeholders • Connect at a Deeper Level than $$ • Inspirational Leadership vs. Transactional Leadership
- 35. Set Great Goals •What Gets Measured Gets Done • Higher Goals > Higher Performance – Near and Long-Term Goals – Forward and Backward Looking Goals • Key Business Screamers
- 36. Actions Speak Louderthan Words • “Blah Blah” vs. Real Leadership • Character = “Brand Promise” • Lead by Example • Walk the Talk
- 37. Marshall Grow Success and Happiness Resources & Adapt Launch Change come from Harmony ACTIONS GOALS VALUES & BELIEFS REALITY
- 38. Entrepreneurship • Fundamental tothe Human Spirit • Not Just a Business Discipline • A Way of Seeing, Thinking and Acting
- 39. ENT is Experiential • Like Playing the Guitar • Need to Build Your Ent Muscles! • Get Started on Something! • Failure is OK!
- 40. Vielen Dank für dieAufmerksamkeit! Mehr Infos unter: www.entrepreneurship-center.de