Transcript Document 7262520

The Business Plan- Creating
and Starting the Business
Planning
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Business Plan
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What is the business plan?
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Always being updated
Like a road map
Who should write the business plan?
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Advice
Resources
Scope and Value of Business Plan
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Three Perspectives
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Entrepreneur
Customer
Investor
Depth and detail
Advantage to entrepreneur
Business Plan
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First Draft
Evaluating Groups
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Suppliers
Customers
Capital suppliers
Investors
Presenting the Plan
Information Needs
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Three major areas
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Market information
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Operations
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Market size
National/local trends
Location
Manufacturing
Raw materials
Equipment
Labor skills
Space
Overhead
Financial
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Benchmarks
Business Plan
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Using the Internet
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Resources
Writing the Business Plan
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Introductory Page
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Basic information
Executive Summary
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Length
Introduce business concept
Key concepts
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Facts, where needed
Exit strategy?
Writing the Business Plan
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Environmental & Industry Analysis
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Environmental
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Economic
Regulatory
Technological
Social
Industry Analysis
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What is the market?
Industry demand
Competition
Writing the Business Plan
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Description of Venture
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Mission statement
Key elements of products or services
Location and size
Personnel and office equipment
Background of entrepreneurs
History of venture
Writing the Business Plan
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Production Plan
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Subcontractors
In-house
Writing the Business Plan
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Operations Plan
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Marketing plan
4 P’s
 Market research for forecasting
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Organizational plan
Assessment of Risk
Financial plan
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Three statements
Appendix
Using & Implementing the Business
Plan
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Using the Plan
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Implementing the Plan
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Guide through the first year
Is planning necessary?
Contingency plans
Inventory control
Production control
Quality control
Sales control
Disbursements
Updating
Why Businesses Fail
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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