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The Business Plan- Creating and Starting the Business

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The Business Plan- Creating and Starting the Business Planning Business Plan Always being updated What is the business plan? Like a road map Who should write the ... – PowerPoint PPT presentation

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Title: The Business Plan- Creating and Starting the Business


1
The Business Plan- Creating and Starting the
Business
2
Planning
  • Business Plan
  • Always being updated
  • What is the business plan?
  • Like a road map
  • Who should write the business plan?
  • Advice
  • Resources

3
Scope and Value of Business Plan
  • Three Perspectives
  • Entrepreneur
  • Customer
  • Investor
  • Depth and detail
  • Advantage to entrepreneur

4
Business Plan
  • First Draft
  • Evaluating Groups
  • Suppliers
  • Customers
  • Capital suppliers
  • Investors
  • Presenting the Plan

5
Information Needs
  • Three major areas
  • Market information
  • Market size
  • National/local trends
  • Operations
  • Location
  • Manufacturing
  • Raw materials
  • Equipment
  • Labor skills
  • Space
  • Overhead
  • Financial
  • Benchmarks

6
Business Plan
  • Using the Internet
  • Resources

7
Writing the Business Plan
  • Introductory Page
  • Basic information
  • Executive Summary
  • Length
  • Introduce business concept
  • Key concepts
  • Facts, where needed
  • Exit strategy?

8
Writing the Business Plan
  • Environmental Industry Analysis
  • Environmental
  • Economic
  • Regulatory
  • Technological
  • Social
  • Industry Analysis
  • What is the market?
  • Industry demand
  • Competition

9
Writing the Business Plan
  • Description of Venture
  • Mission statement
  • Key elements of products or services
  • Location and size
  • Personnel and office equipment
  • Background of entrepreneurs
  • History of venture

10
Writing the Business Plan
  • Production Plan
  • Subcontractors
  • In-house

11
Writing the Business Plan
  • Operations Plan
  • Marketing plan
  • 4 Ps
  • Market research for forecasting
  • Organizational plan
  • Assessment of Risk
  • Financial plan
  • Three statements
  • Appendix

12
Using Implementing the Business Plan
  • Using the Plan
  • Guide through the first year
  • Is planning necessary?
  • Contingency plans
  • Implementing the Plan
  • Inventory control
  • Production control
  • Quality control
  • Sales control
  • Disbursements
  • Updating

13
Why Businesses Fail
  • Goals are unreasonable
  • Goals are immeasurable
  • Lack of entrepreneurial commitment
  • Lack of experience with type of business
  • No sense of potential threats or weaknesses
  • No customer need was established
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