How to write a business plan in 10 steps
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A business plan is the most important document for an entrepreneur not because investors want it because its that one document that they can measure themselves against. This is a presentation made based on Guy Kawasaki's Business plan idea with inferences from Uber's and Airbnb's original business plan. The presentation gives an overview to the 10 key items that you need to have in any business plan.
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How to write a business plan in 10 steps
- 1. The Why, What, & How of BUSINESS PLAN Ram Srinivasan Credits: Guy Kawasaki and based on Business Plan of Uber and Airbnb
- 2. 1. TITLE Big logo, Business name, tag line
- 4. 2. PROBLEM / OPPURTUNITY Pain you are solving or The pleasure you are providing
- 6. 3. OVERVIEW 30 secs explain what you do What's your differentiator
- 8. 4. YOUR PRODUCT Focus on What and How
- 10. 5. SALES & MARKETING Don’t make motherhood statement Be specific
- 12. 6. COMPETITION Competition is good, prove why you will win
- 14. 7. REVENUE Explain who has your money and how you will get it!
- 16. 8. FORECAST 3 years forecast of revenue, key metrics such as customers, conversion rate
- 18. 9. TEAM Focus on each members key skill
- 20. 10. CURRENT STATUS What makes you think this will succeed? Milestones, future looks like, how you will spend money
- 22. “Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” Sun Tzu
- 23. p.23 Ten Elements of A Business Plan; 1. problem 2. your solution 3. business model 4. underlying magic 5. marketing & sales 6. competition 7. team 8. projections 9. milestones 10. summary & status Problem; Statetheproblemyouaresolving. Isit financiallyattractive? Your Solution; What isyour solution. Showany testimonialsor validationbyyour customers. Whyyou?What isyour unfair advantage? Business Model; Howareyougoingtomakemoney? Underlying Magic; Your secret sauce. Whycustomers will cryfor youandwhynobody elsecancopyyou Competition; Showwhoyour major competitors areandhowyouwill battlethem. UsetheBlueOceanstrategycanvas or anythingelsetoshow differencesbetweenyouandthe competition. Team; Showmorethanoneperson dedicatingtheir livestomakethe ventureasuccess Financial Projections; Focusmoreonyour costs, burn rateandcapital requirement. Revenueisjust awishat thistime. Milestones; Showwhat youhaveaccomplished sofar andall thegoodthings comingyour way Summary & Status; Closestrongly, tunemessagefor theaudience The Elements of Business Plan Guy Kawasaki’s suggested 10 point enchanting business plan BusinessPlanisatool that mayhelpyouget funded andmayhelpyouget your teamworkingasateam. But it isnot anendinitself Guy Kawasaki
- 24. p.24 Introducing Business Planning Canvas Capturing the market and product requirements on one page Nine Elements Of A Business Planning Canvas 1. problem 2. customer segments 3. unique value proposition 4. solution 5. channels 6. cost structure 7. revenue streams 8. partners 9. unfair advantage Below is a very brief explanation of the different segments of a business planning canvas. This is a mix of both canvases to focus on planning. Problem How intense is the problem and how urgent is the need to fix it. Customer Segments Who is/are the customers and collaborators (other users). Identify the early adopters. Unique Value Proposition Why your solution is different and worth buying. Solution Featuresthat addresseachproblem stated. Channels Distributionandpathstoreach customers. Cost Structure Identifycosts, capital requirement, andyour burnrate. Know breakevenpoint. Revenue Streams Pricing. Start withvalidatingyour premiumpricingfirst. Estimate customer lifetimevalue Partners Capturekeypartners, collaborators, influencers. Unfair Advantage Whyisit difficult for somebodyelse tocopy. Key Omissions I replacedKeyMetricsonLean CanvaswithPartners. Metricsis important but I wantedtofocuson actionable, andleadindicative factors. Andentroids.com frameworkhasother waystocover metrics. Abusiness model describes therationaleof an organizationcreates, delivers andcaptures value Alex Osterwalder
- 25. p.25 Putting The Canvas To Work Drive meaningful actions that test your business hypothesis Business Planning Cycle • capturing assumptions • taking actions • cycle of revelation Capturing Assumptions Everyitemonthecanvasshouldbe screaming“validate”. Questionsto askwhilecompletingthecanvasto helpfleshout theassumptionsare; • Howso? • Sowhat? • Whereistheproof? Taking Action Thenext stepintheprocessisto prioritizeyour risksand assumptionsandcreate experimentsandtaskstomitigate your risksandtest your assumptions. Youcouldusea simple‘todo’ list, or automated softwarelikeEntroids.com Cycle Of Revelation Youshouldinstill inyour teamthe disciplineof executingthese experimentsandfeedingbackthe learningtomakeadjustmentsto your product andplans. The successandfailureof ateamis dependent largelyontheabilityof theteamtoaccomplishthis. “Successful teams get intothehabit of executingthebusiness planningcycle. Useautomationand productivitytools toyour advantagetoget moredonefaster &better”