Home

Contact us

Topics

Topics

Topics

Topics

What is a Business Plan?

• Why Prepare a Business Plan?

• What to avoid in your Business plan?

Business Plan Format

• Vision Statement

• The People

• Business Profile

• Economic Assessment

• Cash Flow Assessment

• Damage Control Plan

Eight Steps to a Great Business

Plan

• Review Sample Plans

• Focus and Refine Concepts

• Gather Data

• Outline the specifics of your business

• Include experience

• Review language and projections

• Put your plan into a compelling form

• Enhance with graphics

Does your plan include the following

necessary factors

• A sound business concept

• Understanding your market

• Healthy, growing and stable industry

• Capable management

• Able Financial Control

• Financial Management Skills

• Consistent business focus

• Mind set to anticipate change

• Plans for outline business

VALUE IMPORTANCE RECOMMENDATION

•  The  primary  value  is  to  evaluate  all  aspects  of  

economic  viability  of  your  business  venture  including  a  descrip7on  and  analysis  of  the  business  prospects.  

•  Maintaining  a  correct  assessment  of  the  

changing  economics  of  the  business,  the  plan  will  

provide  a  useful  roadmap  as  well  as  financing  tool.  •  Miscalcula7on  of  poten7als,  the  business  plan  could  become  a  roadmap  leading  to  

failure.  

•  Crea7ng  a  business  plan  is  an  essen7al  step  for  any  prudent  entrepreneur  to  

take.  •  You  must  complete  each  segment  of  the  plan  as  you  

progress  through  the  course.  

•  Look  at  the  business  plan  as  an  ongoing  assessment  that  you  will  frequently  review  and  change  to  conform  to  actual  

opera7ng  experience.  

Define and Focus your Objectives

Used as a selling tool in dealing with important relationships

Can uncover omissions and/or weaknesses in the planning process

Can be used to solicit opinions and advice from people

• Becomes meaningless • Reality of the business can be different from initial concept

Long-term future projections

• Do not ignore spelling out what your strategies will be in the event of business adversities

Spelling

• Don’t depend entirely on the uniqueness of your business or even a patented invention Uniqueness

• Just be extremely conservative in predicting capital requirements, timeliness, sales and profit Optimism

• Avoid language that are difficult to understand Language

\  

•  YOU  are  the  most  important  ingredient  for  the  success  of  your  business.  

•  Prepare  a  resume  for  each  person  who  will  be  involved  with  you  in  star=ng  the  business.  

•  Be  careful  to  those  with  whom  you  will  be  having  rela=onships.  

•  YOU  are  the  most  important  ingredient  for  the  success  of  your  business  

•  YOU  could  add  a  partner  to  your  plan  or  hire  key  people  who  will  provide  skills  you  don’t  have.  

Include a one-year cash flow that will incorporate your

capital requirements

Include your assessment of what could go wrong and how you would plan to handle problems.

All businesses will

experience episodes of

distress. Survival will depend on

how well you prepare to cope with

them.

Your damage control plan

should anticipate potential threats to

your business and how you

plan to overcome

them.

Review Sample Plans

Focus and refine concepts

Gather data

Outline specifics of business

Include personal information

Print business plan

Enhance presentation

EIGHT  STEPS  TO  A  GREAT  BUSINESS  PLAN  

•  Remember that some of the great inventions of all time, like airplanes and cars, did

not result in economic benefit.

•  Success comes to those who find businesses with great

economics and not necessarily great inventions

or advances to mankind.  

Build  a  qualified  team  to  evaluate  the  best  op=ons  

for  u=lizing  retained  earnings.  

Be flexible early in the process and keep it fluid. Expect your first plan to be provisional and subject to revision.  

Ask yourself if your experience or expertise gives you the right to an opinion on specific opportunity

Identify your potential deal killers Clearly identify what you see as key drivers of success

Raise money only in sufficient amount to finance the experiment or evaluation your next envision. (with contingencies)

Delay hiring key managers until initial rounds of experimentation have produced a stable business model.

•  TEST your product or service •  TEST and refine business mode before expanding

TOP TEN DO’S

TOP TEN DONT’S

PO

RT

ER

’S 5 FORCES MODEL

PO

RT

ER

’S 5 FORCES MODEL

What is a Business Plan?

• Why Prepare a Business Plan?

• What to avoid in your Business plan?

Business Plan Format

• Vision Statement

• The People

• Business Profile

• Economic Assessment

• Cash Flow Assessment

• Damage Control Plan

Eight Steps to a Great Business

Plan

• Review Sample Plans

• Focus and Refine Concepts

• Gather Data

• Outline the specifics of your business

• Include experience

• Review language and projections

• Put your plan into a compelling form

• Enhance with graphics

Does your plan include the following

necessary factors

• A sound business concept

• Understanding your market

• Healthy, growing and stable industry

• Capable management

• Able Financial Control

• Financial Management Skills

• Consistent business focus

• Mind set to anticipate change

• Plans for outline business

Home

Contact us

Topics

Topics

Topics

Topics