Owning and Operating a Business The Business Plan

Initial Steps Before starting a business: See if there is a demand Market research Develop a business plan Written description All aspects What, who, why?? Focus!! Used by potential investors

Venture Checklist What? Who? Why? Cost? Employees? Physical facilities? Legal documents? Money?

Parts of a Business Plan Well organized Easy to read Logical 16 essential parts

Executive Summary Brief account of key points No more than 2 pages Most important info Compelling story Persuasive Foundational

Management Team Plan and Company Description Presents qualifications Execute business concept Gaps Provides outline Size, scope, type Success

Product and Service Plan Description Nature of business Unique features Growth potential

Vision and Mission Statements Guiding principles Vision – Establishes scope and purpose of a company Reflects values and beliefs Mission – Specific aspirations of a company Major goals

Bishop Kearney High School Vision Statement: Bishop Kearney High School is a vibrant community dedicated to providing an environment in which high academic expectations, spirituality, and a strong sense of Catholic community enhance the education of the whole person. Mission Statement: The mission of Bishop Kearney High School is to empower young men and women to reach their full potential - academically, spiritually, and socially - by providing a college preparatory, values-based Catholic education in a student-centered family atmosphere, in keeping with the tradition of the Christian Brothers and the School Sisters of Notre Dame. Go to the Internet -find one company that you do business with and look up their mission and/or vision statement; what do these statements tell you about the company

Industry Overview and Market Analysis Presents research Trends and growth Customer profile Marketing and sales strategy Geographic, economic, demographic data

Competitive Analysis and Marketing Plan Advantages Gather information Web sites Customer interviews Trade shows Articles Customer awareness Pricing Image Budget Tactics

Operational Plan and Organizational Plan Business processes Production and delivery People Management philosophy Go to web and look up definition of philosophy Form of business

Financial Plan and Growth Plan Forecasts Statements Provides proof Expansion Plans To grow and deal with growth