Transcript BusinessPlan (2)

Business Plan
Karisha Devlin
Agricultural Business Specialist
Agenda
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Introduction
The importance of a business plan
Key elements of a business plan
Tools
Computer time & questions
What is a Business Plan?
 Written document that:
 Defines your business
 Identifies your goals and mission
 Serves as your business “resume”
Why is a Business Plan Important?
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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
Elements of a Business Plan
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Executive summary
Farm description
Strategic plan
Production & operation
Marketing plan
Personnel plan
Financial plan
Executive Summary
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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
Farm Description
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Business type and size
Location
Facilities
History
Ownership structure
Strategic Plan
Mission statement
Goals
Business Strategy
Where you want the business to go
and how to get there
 SWOT
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Mission Statement
 A description of what you and/or your
business hope to do and be
 Values
 Vision
 Purpose
Goals and Objectives
 Goals
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Dream with a deadline
Desired outcomes for your business
Short term (within one year)
Long term (2-5 years)
 Objectives
 Strategies for reaching goals
Production and Operation
 Crop system
 Livestock system
 Other enterprises
Marketing Plan
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Marketing strategy
Marketing resources
Promotion and distribution
Inventory and storage management
Personnel Plan
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Family and hired labor
Management team
Consultants
Personnel management
Financial Plan
 Financial statement
 Balance sheet
 Income statement
 Cash flow statement
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Long range projections
Projected profitability
Capital required
Asset management
Tools
 Books
 Agricultural Business Specialist
 Examples
 Assistance
 Software
 FINPACK Business Plan
Questions
Karisha Devlin
[email protected]
573-633-2640