1. Writing a Winning Business Plan

2. A business plan is a strategy for creating, launching and managing a new venture. It answers the questions of A business plan is a strategy for creating, launching and managing a new venture. It answers the questions of What, Why, Who, When and Where. Most important, it answers the question of How.

3. Success begins with a great opportunity. A viable opportunity exists when:  You have intimate knowledge of an industry (products, services, competitors, customers’ needs, missing pieces)  You find a way to meet a need that is not being met, or a way to meet a need better than other companies are meeting it  You can execute a viable business in the industry (robust market, healthy margins, early cash flow, high profit potential, a strong team, customers ready to buy)

12. Components of the Plan  Cover Page  Table of Contents  Executive Summary  Business Description  Industry Analysis  Management Plan  Marketing Plan  Financial Plan  Implementation Plan

13. Cover Page  Name of new business  Name of founders  Contact information  Date of plan

14. Table of Contents  Includes major sections and page numbers  Includes sub-sections and page numbers

15. Executive Summary  3 to 5 pages in length  Brief description of business and summary of competitive advantage  Brief overview of management plan  Brief overview of marketing plan  Brief overview of financial plan including sales and profit projections

16. Business Description  Mission, vision and values  Products and/or services  Unique competitive advantage  Legal structure and ownership

17. Industry Analysis  Definition and health of industry  Barriers to entry and exit  Power of buyers and suppliers  Complementary/substitute products  Analysis of major competitors  Current trends relevant to business  Impact of technology and innovation  Key factors for industry success

18. Management Plan  Members of the management team  Structure of organization and roles  Acquisition/sourcing of materials  Production/assembly of products  Packaging and distribution  Customer service strategy

19. Marketing Plan  Market segments/customer profiles  Target customers and/or companies  Channels for product distribution  Sales and marketing strategies  Pricing and market positioning

20. Financial Plan  Financing the venture  Projected financial statements  Cash flow analysis  Break-even analysis

21. Financial Planning  Confirms there is viable economic model for the business  Uncovers risks that will need to be managed  Builds investor confidence (easier to finance and lower financing costs)  Improves negotiation position of the entrepreneur

22. Financial Summary  Financing required – amount raised and future requirements  Timing of financing (stages and milestones)  Projection of financials over 3-5 year period (by month or quarter year 1)  Past financial history if any  ROI expectations

23. Implementation Plan  Major objectives for the first year of operation  Specific action plans for achieving each objective

24. Sample business plans can be viewed on the following websites: www. bplans.com www.businessplans.org