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Business Plan Preparation Introduction

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Leeds School of Business. University of Colorado. Boulder, Colorado. 1. Tonight's Agenda ... Road Map. Establish goals to make sure that are on track and ... – PowerPoint PPT presentation

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Title: Business Plan Preparation Introduction


1
Business Plan Preparation Introduction
  • Frank Moyes Leeds School of Business University
    of Colorado Boulder, Colorado

2
Tonights Agenda
  • Introductions
  • Course organization syllabus
  • Writing a business plan
  • Discuss your ideas

3
Communications
0
  • Frank Moyes
  • frank.moyes_at_colorado.edu
  • Office Hours Koelbel 210 B
  • Wednesday 300 to 530pm
  • Thursday 300 to 600pm
  • And by appointment
  • Website http//leeds-faculty.colorado.edu/Moyes

4
Materials
0
  • Lawrence and Moyes, Writing a Successful
    Business Plan, 2007
  • Moyes and Lawrence, Financial Spreadsheets for
    the Business Plan

5
Objectives of the Course
  • Understand what is a business plan when to
    write one
  • Learn to write a viable business plan
  • Experience the process

Everything is vague to a degree you do not
realize till you have tried to make it precise.

Bertrand Russell
6
Course Structure
  • Weeks 1 2 Evaluate opportunities
  • Week 3 Select concept team
  • Weeks 4 5 Market Industry Analysis
  • Week 6 to 13 Instructor to describe a section of
    the business plan (slides posted on course
    website)
  • Weeks 5 to 12 In the Fire sessions
  • Week 14 Present business plan hand in
  • Week 15 Competition

7
Grading
  • Individual
  • Resume
  • Concept
  • Participation
  • Peer evaluation
  • Team Assignments
  • In the Fire sessions
  • Written assignments Presentations
  • Final Business Plan Presentation

8
Business Plan Sections
9
  • Executive Summary
  • Company Overview
  • Product/Service Description
  • Market Industry Analysis
  • Marketing Plan
  • Operations Plan
  • Development Plan
  • Management
  • Competitive Advantage
  • Financial Plan
  • Funding

10
Why Write a Business Plan?
  • Road Map
  • Establish goals to make sure that are on track
    and heading in the right direction
  • Action Plan
  • Small steps lead to large results
  • Sales Tool to attract investors, vendors,
    customers, partners, employees

If we dont have a plan for ourselves, we will
be part of someone elses. Joan Lunden
11
A Good Business Plan
  • Explains how you are going to do it
  • Provides evidence that customers want to buy
  • Tells a story - creates excitement
  • Addresses the critical elements
  • Should be painful to write

12
Critical Elements of a Business Plan ( You Must
Address)
  • Strong market
  • Attractive industry
  • Compelling Need
  • Clear value proposition
  • Sustainable competitive advantage
  • Understanding of profitability cash flow
  • Management

13
Why Not Write a Business Plan?
  • Lack experience
  • Information
  • Time cost to get causes too great a delay
  • Cant get
  • Situation changes too quickly
  • Founder has great experience, successful track
    record has a gut feel for the business

14
Writing a business plan is a life changing
event.
15
Discuss Ideas
16
From Student to Entrepreneur Approach to
Generate Ideas
  • Doing what you love
  • What bugs you
  • Use your experience
  • Recycle business concept
  • Steps, pain points solutions
  • Developed by Neal Lurie, MBA 2004

17
Concept Team Selection Process
  • Identify Concept
  • Conduct Idea Exercise (download from website)
  • Sept 5 email resume to instructor as Word
    attachment
  • Must have your name Resume on file name
  • Sept 5 discuss your concept in class
  • Use Business Concept Description as a framework
    for explaining your concept

18
Concept Team Selection Process (continued)
  • Sept 7 (Friday) 100pm email Business Concept
    Description as a Word attachment to instructor
  • Must have your name concept name in file name
    and on the attachment
  • Sept 10 (Monday) Instructor to email all students
    which concepts with the greatest potential that
    have been selected
  • Sept 12 Students whose idea are selected will
    form a teams of four on in class

19
Concept Description
  • Brief description
  • Why is there an opportunity/need?
  • What is the product/service? What are the unique
    benefits? How will it be produced or delivered?
  • Who is the target market?
  • What are the benefits to the target market?
  • Who is the competition? What advantages do you
    have over the competition?
  • Profitability
  • Revenue model
  • Contribution margins

20
Assignments for Next Week
  • Resume email to instructor
  • Review ESBM 3700 materials on Opportunity
    Recognition
  • Identify an opportunity to discuss in class
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