1. Create Your Business Plan

2. Friday, December 2nd
Warm Up: Please log in, go to my website, copy the business plan template to your google drive in your entrepreneurship folder
Rename the document with your business name “Anne’s Bakery Business Plan”

3. Today Template explanation Review business plans
Goal: Gain insights into how to create a successful business plan by reading other business plans

4. Monday, December 5th
Warm up: make sure your income statement is complete and in your shared folder. Mrs. H will be reviewing those today
Please open your business plan template that you saved on Friday

5. Business plan Executive Summary (one page executive summary)
PROBLEM (List the top three problems your product/service is addressing)
CUSTOMER SEGMENTS (Who are the target customers? )
UNIQUE VALUE PROPOSITION (What is the single, clear, compelling message that states why your product/service is different and worth buying? )
SOLUTIONS (What are the top three features of your product/service? )
CHANNELS (What are the pathways to customers? )

6. REVENUE STREAMS
Revenue Model
Lifetime Value
Revenue
Gross Margin
COST STRUCTURE
customer acquisition costs
distribution costs
human resources costs
other additional costs
COMPETITIVE ADVANTAGE (What about your product/service means that it cannot be easily copied or bought? )
CONCLUSION (Specific request for financing, summary of key points supporting the financial request)
BIBLIOGRAPHY

7. Tuesday, December 6th Work Day: Complete your draft business plan
Tomorrow: We will begin to review each section in detail so it needs to be complete TODAY!

8. Wednesday, December 7th
Warm Up: Take 5 minutes, make sure your business plan template is complete

9. Teams 4th hour Harrison, Owen, Collin Ben F, Haydn Thomas, Nate
Zach, Sam
Sarah/Reilly, Cameron
Michael, Ben W
Alex, Cade

10. Teams 5th hour Alex/Dustin, Gunner Sam, Joey, Austin R
Liam/Chris, Nick
Phil, Logan
Brad, Chris P
Kayla, Nolan/Craig
Tim, Tyler
David, Austin K

11. Problem Two kinds: In your plan … Original Problem Innovator’s problem
Problem – clearly stated
Importance of problem
Importance of solution
History, past attempts to solve problem
MVP
Cause of the problem

12. Unique Value Proposition
The value proposition is the feature that motivates buyers to purchase your product
Motivation = perceived benefits – perceived costs
You must answer three questions:
How are these features different from competitors?
What features of the product benefit the customer?
What is most valuable to the customer?

13. SAT Guide Feature: comprehensive study tools
Benefit: higher SAT scores
Result: acceptance to dream college

14. Thursday, December 8th
Warm Up: What is a SWOT analysis? How it is helpful?
Yesterday: reviewed Business Plan problem and UVP
Today: Review solution, create SWOT analysis and add to business plan in solution section

15. Solutions What are the top three features?
What problems do they solve?
How do they solve the problems?
Why will the customer want this solution?
What is the result of this solution?
Check your solutions, then trade w/ your partner

16. SWOT Strengths – internal, positive Weaknesses – internal, negative
Opportunities - external, positive
Threats – external, negative

17. Strengths
Strengths describe the positive attributes, tangible and intangible, internal to your organization. They are within your control.
What do you do well?
What internal resources do you have? Think about the following:
Positive attributes of people, such as knowledge, background, education, credentials, network, reputation, or skills.
Tangible assets of the company, such as capital, credit, existing customers or distribution channels, patents, or technology.
What advantages do you have over your competition?
Do you have strong research and development capabilities? Manufacturing facilities?
What other positive aspects, internal to your business, add value or offer you a competitive advantage?

18. Weaknesses
Weaknesses are aspects of your business that detract from the value you offer or place you at a competitive disadvantage. You need to enhance these areas in order to compete with your best competitor.
What factors that are within your control detract from your ability to obtain or maintain a competitive edge?
What areas need improvement to accomplish your objectives or compete with your strongest competitor?
What does your business lack (for example, expertise or access to skills or technology)?
Does your business have limited resources?
Is your business in a poor location?

19. Opportunities
Opportunities are external attractive factors that represent reasons your business is likely to prosper.
What opportunities exist in your market or the environment that you can benefit from?
Is the perception of your business positive?
Has there been recent market growth or have there been other changes in the market the create an opportunity?
Is the opportunity ongoing, or is there just a window for it? In other words, how critical is your timing?

20. Threats
Threats include external factors beyond your control that could place your strategy, or the business itself, at risk. You have no control over these, but you may benefit by having contingency plans to address them if they should occur.
Who are your existing or potential competitors?
What factors beyond your control could place your business at risk?
Are there challenges created by an unfavorable trend or development that may lead to deteriorating revenues or profits?
What situations might threaten your marketing efforts?
Has there been a significant change in supplier prices or the availability of raw materials?
What about shifts in consumer behavior, the economy, or government regulations that could reduce your sales?
Has a new product or technology been introduced that makes your products, equipment, or services obsolete?

21. SWOT
Create a SWOT analysis and place it in your business plan in the solutions section, after the solution components we just reviewed
See the two examples in the document on my website

22. Friday, December 9th Today: Channels Peer review– new teams Problem
UVP
Solution
Channels

23. Teams 4th hour Harrison, Sam, Cameron Ben F, Michael, Thomas
Cade, Zach, Owen
Sarah/Reilly, Brett, Haydn
Ben W, Alex, Nate

24. Teams 5th hour Alex/Dustin, Chris P, Sam, Kayla, Liam/Chris, Tyler
Phil, David, Austin R
Brad, GunnerJoey
Nolan/Craig, Tim, Nick
Logan, Austin K

25. Channels
Describes how a company communicates with and reaches its Customer Segments to deliver a Value Proposition.
Communication, distribution, and sales Channels comprise a company's interface with customers. Channels are customer touch points that play an important role in the customer experience.

26. Channels How are we reaching out to gain customers? Think PROMOTION
How will our customers obtain our product/service?
How will our customers hear from us after purchasing the product/service?
How will other businesses obtain our product (if it is a B2B sale?

27. Tuesday, December 13th
Warm Up: Who are your target customers for your business?
Today: Customer Segments

28. Customer Segments ID your customer
Who will use your product?
Who will buy your product?
Why will people buy your product?
To complete this section of your business plan you need to do a little research

29. Wednesday, December 14th Customer Segments Assignment
Research your primary and secondary customer
Highlight important details
Lets look at the assignment
Lets look at an example
Due Wednesday 15 minutes after class starts (so we can peer review)

30. REVENUE STREAMS Answers the question: where does your money come from?
Revenue Model – how do you make money?
Lifetime Value – how much is a customer WORTH to you over the life of the customer?
Revenue – how much money will you make?
Gross Margin – expressed in a percentage
Revenue – cost of goods sold -= gross profit
Gross profit/revenue = gross margin

31. COST STRUCTURE
customer acquisition costs – how much does it cost to get a customer, add in text here about what that cost includes (kinds of advertisement, giveaways, etc)
distribution costs – how much it costs to get the product from you to customer (you may not have these costs)
human resources costs -how much your payroll costs
other additional costs – list your total operating expenses here
FYI: we will also attach your income statement so make sure it’s finalized

32. Competitive Advantage
A real competitive advantage is something that cannot be easily copied or bought
Insider knowledge
Workforce
Credibility/reputation
Unique features of your product/store/service

33. Conclusion/Bibliography
Specific request for financing
Summary of key points supporting the financial request
Bibliography
Use MLA or APA format
Cite all sources (think back to each section of your business plan)