1. BYU Management Society Entrepreneurial “Idea Share” Workshop 17 April 2010 1

2.  Every company/manager uses a different business plan template ◦ Don’t be intimated ◦ There is no ‘one’ best way to write a plan ◦ It won’t be done in one setting and it will evolve  In general, shorter is better but your plan must be complete  State your assumptions (e.g., How did you arrive at your sales forecast?)  A well documented business plan is your roadmap and a good resource to create other supporting documents (e.g., an abbreviated version for investors) 2

3.  The One Page Business Plan For the Creative Entrepreneur by Jim Horan  Pragmatic Marketing templates ◦ www.pragmaticmarketing.com/files/ppm www.pragmaticmarketing.com/files/ppm ◦ Many templates including a business plan 3

4.  Vision – What are you building? ◦ Build XYZ Co. into a $5M enterprise software company in 3 years specializing in web design solutions  Mission – Why does this business exist? ◦ Streamline the web design and support processes  Objectives – What results will you measure? ◦ Obtain 20 new clients w/ average revenue of $30k per year  Strategies – How will you build this business? ◦ Use outside consultants to achieve additional capacity  Plans – What is the work to be done? ◦ Foster thought leadership position thru blog and twitter by Sep 1 All components must be in harmony 4

5.  A SWOT analysis will provide helpful insights into your business plan creation ◦ Strengths and Weaknesses are internal to your organization  Strength – Strong management team  Weakness – High turnover and training costs ◦ Opportunities and Threats are external factors  Opportunity – Newly identified market segment  Threat – Impending higher interest rates 5

6.  Executive Summary (Typically done last) ◦ Market Opportunity ◦ Distinctive competence and strategic fit ◦ Financial objectives  Business Plan ◦ Background ◦ Market Analysis  Market segments  Buyer personas  Market problems  Reason to buy/barriers to purchase/buying process 6

7.  Business Plan ◦ Market Analysis (cont.)  Current solutions  Complements and conflicts with existing company products  Our current position  Competitive landscape ◦ Product Concept  Positioning  Compelling advantage 7

8.  Business Plan ◦ Business Justification  Business objectives  Forecasted revenue  Cost estimates  Profit analysis  Pricing  Installed base opportunity and impact 8

9.  Business Plan ◦ Product Feasibility  Technology assessment  Buy, build, or partner  Development feasibility  Services feasibility ◦ Retirement Strategy ◦ Risks  Mitigation strategy ◦ Appendix  Supporting documents and research 9

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