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CH 6 Business plans

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beth carroll

on 16 February 2016

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Transcript of CH 6 Business plans

Take your business plan to more than one bank to get feedback
This will help you learn what your plan is lacking . Then you can fine tune it and go and get the real $$$
Guy Kawasaki 10-20-30 rule
a description of your company, including your products and/or services
your mission statement
your business’s management team
the market and your customer
marketing and sales
your competition
your business’s operations
financial projections and plans
Kick in the can summary
Executive Summary (p.190 & 192)
Section 1: Executive Summary
In many instances an investor will ask for a copy of a firm’s executive summary and will ask for a copy of the entire plan - only if the executive summary is convincing.
The executive
summary is
the most important
section of a business plan.
http://www.business-plan.com/outline.html
Business plan outline online!
Structure of the Business Plan

To make the best impression a business plan should follow a conventional structure, such as the outline for the business plan shown in the chapter.

Typically, investors are busy people and want a plan where they can easily find critical information.
Guidelines for Writing a Business Plan
Content of the Business Plan

The business plan should give clear and concise information on all the important aspects of the proposed venture.

It must be long enough to provide sufficient information yet short enough to maintain reader interest.
Guidelines for Writing a Business Plan
Business Plan
A business plan is a written narrative, typically 25 to 35 pages long, that describes what a new business plans to accomplish.


Written after the CCS and Feasibility analysis have been completed
What Is a Business Plan?
“A goal without a plan
is just a wish”

Larry Elder
Copyright ©2012 Pearson Education, Inc. publishing as Prentice Hall
Writing a Business Plan
Bruce R. Barringer
R. Duane Ireland
Chapter 6
SBA Business plan template:
http://web.sba.gov/busplantemplate/BizPlanStart.cfm
SBA
Copyright ©2012 Pearson Education, Inc. publishing as Prentice Hall
7. Marketing and sales
8. Management team
9. Financial projections
10. Current status
11. Financing sought
12. Summary
Title Slide
Problem
Solution
Opportunity and target market
Technology
Competition
Twelve PowerPoint Slides to Include in an Investor Presentation
Presenting the Business Plan to Investors
2 of 2
The Oral Presentation
The first rule in making an oral presentation is to follow directions.
If you’re told you have 15 minutes, don’t talk for more than the allotted time.
The presentation should be smooth and well-rehearsed.
Enthusiasm!!!!!
Questions and Feedback to Expect from Investors
The smart entrepreneur has a good idea of the questions that will be asked, and will be prepared for those queries.
Presenting the Business Plan to Investors
Structure of the Business Plan (continued)
There are many software packages available that employ an interactive, menu-driven approach to assist in the writing of a business plan.

Some of these programs are very helpful. However, entrepreneurs should avoid a boilerplate plan that looks as though it came from a “canned” source.



Guidelines for Writing a Business Plan
A Sense of Excitement!

Along with facts and figures, a business plan needs to project a sense of anticipation and excitement! about the possibilities that surround a new venture.


But, be
REALISTIC.
INCLUDE
Three Types of Business Plans
Guidelines for Writing a Business Plan
A firm’s business plan must make the case
that the firm is a good use of an investor’s funds
or the attention of others.
A clearly written business plan helps the employees
of a firm operate in sync and move forward in a consistent and purposeful manner.
Investors and other external stakeholders
A Firm’s Employees
What They are Looking For
Audience
There are two primary audience for a firm’s business plan
Who Reads the Business Plan—And What Are They Looking For?
It’s also important to
look sharp when
presenting a business
plan.
Presenting the Business Plan to Investors
A goal with a plan is a possibility

What do you wish for?
What irritates you?
Bad, gross, terrible, stupid, illegal, idea's
What problem do you want to solve?
If I could invent one thing to make the world a better place...
Thursday

Be prepared to present your business concept to the class

Due: Concept Statement
Surveys
1 -2 pageSummary of Results
http://www.entrepreneur.com/article/226819
Goals that are not written down are just wishes
Committing your goals to paper increases the likelihood
of your achieving them by one thousand percent!
Brian Tracy


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