The Business Plan. What are the similarities of successful entrepreneurs? Don’t worry you can learn them! Persistence Desire for immediate feedback Inquisitiveness.

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Presentation transcript:

The Business Plan

What are the similarities of successful entrepreneurs? Don’t worry you can learn them! Persistence Desire for immediate feedback Inquisitiveness Strong drive to achieve High energy level Goal-oriented behavior Independent Demanding Self-confident Calculated risk taker Creative Innovative Vision Commitment Problem solving skills Tolerance for ambiguity Strong integrity Highly reliable Personal initiative Ability to consolidate resources Strong management and organizational skills Competitive Change agent Tolerance for failure Desire to work hard

What is Creativity?

Characteristics of Creative People

Can you improve your creativity? YES! How?

Is the solution reasonable?

What is an Innovation?

Where do innovative ideas come from

Essential Elements of a Good Business Plan for Growing Companies Executive Summary Market Analysis Company Description Organization & Management Marketing & Sales Management Service or Product Line Funding Request Financials & AppendixFinancialsAppendix

Let’s take a look at some videos to help deepen our understanding of business plans! ringsuccess/index.htmlhttp:// ringsuccess/index.html

Part 1: The Executive Summary

Contents of the Executive Summary

Part 2: Market Analysis

Industry Description and Outlook

Identifying Your Target Market

Lead Times

Competitive Analysis

Regulatory Restrictions

Part 3: Company Description

Part 4: Organization & Management

Organizational Structure

Ownership Information

Management Profiles

Board of Directors' Qualifications

Part 5: Marketing and Sales Strategies

Your Overall Sales Strategy should include:

Part 6: Service or Product Line

Part 7: Funding Request businesshttp://articles.bplans.com/financing-a- business

Part 8: Financials

Prospective Financial Data

Part 9: The Appendix

Let’s review one more time all the sections of a business plan!!! Executive Summary Market Analysis Company Description Organization & Management Marketing & Sales Management Service or Product Line Funding Request Financials & AppendixFinancialsAppendix For example business plans click on the below link