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Developing a Business Plan
Transcript of Developing a Business Plan
Summary Market Research Segmentation Positioning Core competency Competitive Advantage Where are you going an why? What are your goals? Business plan is a CRITICAL FACTOR to the success of your business Strategy starts with FOCUS SPECIFIC
to your company Long-term Realistic
Built on market demand Definition Tips Introduction of a formal business plan Summarizing the business proposition, key financial projections, mission/vision, target market, etc
The most important thing in business plan, the first thing a potential investor will read
Should be writen last
team Focus on summarizing Keep language strong and positive Brevity
Polish your executive summary Tailor the executive summary Put yourself in reader’s place
Description History How and why the company was created? Key product lines
goals Number of Employees
Annual sales figures
Ownership Major investors
Type of business entity Sole trader Limited Partnership Limited liability company
Joint venture Group Co-operative Start-up plan
start-up costs Needed things to do to go into
or expand business
The amount of space
Other specific needs to your business
Numbers of employees
Equipment and/or furniture already have
Market value Products and Services Description “ At Knorr, we want people to enjoy good food, any day, any time. ”
Competitive Comparison a general comparison of your offering
How your product lines compare in general to the others
How you are positioned in the market
Sales Literature Specific pieces of sales literature and collateral
depend on the purpose of your plan
Sourcing and Fulfillment product sourcing and the cost of fulfilling service
ample information about resource planning
not just for product-based companies
How technology affects your business
Being vital to a service company
Being critical to a manufacturing business
Not all businesses depending on technology
Future Products and Services outlook for future products and services
depend on the nature of your plan
Market Analysis How to write? Define your target market Demographic Geographic Psychographic Consumer Characteristics Collect data How old are they?
What gender are they?
Where do they live?
What is their family structure (number of children, extended family, etc.)?
What is their income?
What do they do for a living?
What is their lifestyle like?
How do they like to spend their spare time?
What motivates them?
What is the size of your target market?
Recognize Competition Analyze Market size and growth Market trend Management Team The Role of Management team The most essential feature of Management team Some requirements of the management team members Who are usually in a management team? How to select the New Corporate Leader? Financial Plan Importance Structure: Start-up Expenses and
Explanations Sales Forecast
Assumptions Income Projections Statement Cash Flow Projection Personal Income and Expense Projections Prior
Financial Statements Current Balance Sheet Break-even Analysis Risk Analysis
Alternative Plans of
Action Joint stock company Location, Facilities The demographic and physical requirements for the company’s location
Actual location of the company ?
The benefits of the location?
describing the products or services you sell in terms of customer needs and customer benefits CEO CFO COO CMO CTO CLO President,etc Paul Polman
_Chief Executive Officer_
Douglas Anderson Baillie
_Chief HR Officer_ Geneviève Berger
_Chief Research &
Development Officer_ Jean-Marc Huët
_Chief Financial Officer_
Michael B. Polk
_President Global Foods,
Home & Personal Care_ Keith Weed
_Chief Marketing and