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Business Plan

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Why is a Business Plan Important? Roadmap for your business ... Marketing Plan. Marketing strategy. Marketing resources. Promotion and distribution ... – PowerPoint PPT presentation

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Title: Business Plan


1
Business Plan
  • Karisha Devlin
  • Agricultural Business Specialist

2
Agenda
  • Introduction
  • The importance of a business plan
  • Key elements of a business plan
  • Tools
  • Computer time questions

3
What is a Business Plan?
  • Written document that
  • Defines your business
  • Identifies your goals and mission
  • Serves as your business resume

4
Why is a Business Plan Important?
  • Roadmap for your business
  • Gives you a better chance for success
  • Required by financial institutions
  • Helps communicate goals and objectives
  • Forces you to look at whole business
  • Stimulates development of new/future business
    opportunities

5
Elements of a Business Plan
  • Executive summary
  • Farm description
  • Strategic plan
  • Production operation
  • Marketing plan
  • Personnel plan
  • Financial plan

6
Executive Summary
  • Doorway of business plan
  • A one-page overview of business
  • Placed in the front, but done last
  • Summarize key points
  • Content depends on purpose of plan

7
Farm Description
  • Business type and size
  • Location
  • Facilities
  • History
  • Ownership structure

8
Strategic Plan
  • Mission statement
  • Goals
  • Business Strategy
  • Where you want the business to go and how to get
    there
  • SWOT

9
Mission Statement
  • A description of what you and/or your business
    hope to do and be
  • Values
  • Vision
  • Purpose

10
Goals and Objectives
  • Goals
  • Dream with a deadline
  • Desired outcomes for your business
  • Short term (within one year)
  • Long term (2-5 years)
  • Objectives
  • Strategies for reaching goals

11
Production and Operation
  • Crop system
  • Livestock system
  • Other enterprises

12
Marketing Plan
  • Marketing strategy
  • Marketing resources
  • Promotion and distribution
  • Inventory and storage management

13
Personnel Plan
  • Family and hired labor
  • Management team
  • Consultants
  • Personnel management

14
Financial Plan
  • Financial statement
  • Balance sheet
  • Income statement
  • Cash flow statement
  • Long range projections
  • Projected profitability
  • Capital required
  • Asset management

15
Tools
  • Books
  • Agricultural Business Specialist
  • Examples
  • Assistance
  • Software
  • FINPACK Business Plan

16
Questions
  • Karisha Devlin
  • devlink_at_missouri.edu
  • 573-633-2640
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