Transcript Business Plan Preparation Frank Moyes Leeds School of Business
Business Plan Preparation
Frank Moyes Leeds School of Business University of Colorado Boulder, Colorado Framework for the Business Plan 1
Tonight’s Agenda Present concepts & select teams Review Writing a Successful Business Plan Research - i mportance of validation Team meetings Framework for the Business Plan 2
Team Dynamics All team members must meet at least once per week to review progress and create plan Set time and place for weekly meeting Assign responsibility for assignments Set completion dates Framework for the Business Plan 3
Process When One Team Member Not Pulling Weight 1.
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Team meets for frank discussion of what is the problem & decides how to resolve it Team brings problem to Instructor who will make suggestions on how to resolve Instructor meets with entire team to try to resolve Instructor meets with team member who is the cause of the problem and tries to resolve Team fires team member Framework for the Business Plan 4
Market Research Primary Interviews - talk to people Customer surveys – talk to customers Secondary – research market & industry Framework for the Business Plan 5
Interviews Each team member talk to 5 people Complete Call Reports (must be typed) Remember 2 questions must ask at the end What question haven’t I asked that I should?
Who else should I talk to?
Framework for the Business Plan 6
Customer Surveys Do customers recognize that they need your product/service?
Are features compelling?
Criteria for buying decisions? Who influences the decision?
How much will they pay?
Why would they not buy?
Do they understand the benefits?
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Secondary Research Market is Big enough & growing Positive trends You can enter Understand competition Competitive environment favorable to new entries Framework for the Business Plan 8
Market Research - Conclusion Validation of your venture There is good market You can compete Evidence that customer Needs the product/service Will buy it Framework for the Business Plan 9
Business Plan Elements Executive Summary Product or Service Description Market & Industry Analysis Marketing Plan Operations Plan Development Plan Management Competitive Advantage Financial Projections Offering, Funding, Valuation Framework for the Business Plan 10
Business Plan Elements Executive Summary
Last to be written
Framework for the Business Plan 11
Business Plan Elements
Product/Service Description
Features and Benefits
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Business Plan Elements
Market & Industry Analysis
Segments Size and Trends Competition
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Business Plan Elements
Marketing Plan
Target Customer Positioning Pricing Advertising & Promotion Distribution Sales
Framework for the Business Plan 14
Business Plan Elements
Operations Plan
Scope of Operations On-going Operations
Framework for the Business Plan 15
Business Plan Elements
Development Plan
Key Milestones
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Business Plan Elements
Management
Framework for the Business Plan
Organization Team
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Business Plan Elements
Competitive Advantage
Framework for the Business Plan
Sustainable
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Business Plan Elements
Financial Projections
Income Statement Balance Sheet Cash Flow Risks
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Business Plan Elements
Offering, Funding & Valuation
Framework for the Business Plan
Valuation of Business Request for Funding
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Next Week MARKET & INDUSTRY ANALYSIS Opportunity/Need Segmentation Value Chain Financial COMP’s COMPETITIVE ADVANTAGE Hand-in Interview list – 20 names Gene Hayworth – Leeds School librarian No review of business plan examples Framework for the Business Plan 21