1. Business Plan Preparation Introduction
Frank Moyes Leeds School of Business University of Colorado Boulder, Colorado
FLM background
How many in a business?
How many starting a business in next 6 months?
What kind of businesses? Retail, manufacturing, high-tech, service, non-profit
Ask questions

2. Tonight’s Agenda BIC & TTO concept presentations Discuss Concepts
Introductions
Course organization & syllabus
Writing a business plan
Students introduce selves
Major
What have done that is entrepreneurial?
What want from course?
What is your wicked idea?
Frank Moyes
David Drake

3. Communications George Deriso: geode@usa.net Frank Moyes
Communications
Frank Moyes
Office Hours: Koelbel 440
Tuesday 10:00 to 12:00 noon
Wednesday 3:00 to 5:30pm
And by appointment
George Deriso:
Website
Review materials
Website:

4. Materials
Lawrence and Moyes, Writing a Successful Business Plan, 2008 (download from Resource section of Instructor’s website)
Moyes and Lawrence, Financial Projections Model (download from Resource section of Instructor’s website)

5. Objectives of the Course
Understand what is a business plan & when to write one
Learn to write a viable business plan
Experience the process
“Everything is vague to a degree you do not realize till you have tried to make it precise.”
Bertrand Russell

6. Course Structure Weeks 1: Is This a Real Business?, F2F-R
Week 2: Select concept & teams
Weeks 3 & 6: Is This a Real Business?
Week 5 to 12: Introduce sections of the B Plan
Weeks 4 to 12: In the Fire sessions
Week 14: Present business plan & hand in
Jan 2009: Competition
New material is really old stuff: marketing, finance
Who has a concept?
Who has done feasibility plan?
Who has a team to write the plan? See me after class
Concept and team selection: Trade fair
Presentations: friendly fire
STOP: Introduce Roving Planet

7. Grading Face to Face Research In the Fire Team Assignments
Peer Evaluations
Individual Participation

8. Business Plan Sections
Executive Summary
Company Overview
Product/Service Plan
Market & Industry Analysis
Marketing Plan
Operations Plan
Development Plan
Management
Competitive Advantage
Financial Plan
Funding

9. Why Write a Business Plan?
Road Map
Establish goals to make sure that are on track and heading in the right direction
Action Plan
Small steps lead to large results
Sales Tool
Attract investors, vendors, customers, partners, employees
So You Can Throw It Away!
Process is the key
Cauldron - test ideas & strategies
Think through problems to solutions
Lowers the risk
“If we don’t have a plan for ourselves, we will be part of someone else’s.” Joan Lunden

10. A Good Business Plan Explains how you are going to do it
Provides evidence that customers want to buy
Tells a story - creates excitement
Addresses the critical elements
Should be painful to write
Not a substitute for action
Living document

11. Critical Elements of a Business Plan (& You Must Address)
Strong market
Attractive industry
Compelling Need
Clear value proposition
Sustainable competitive advantage
Understanding of profitability & cash flow
Management

12. Why Not Write a Business Plan?
Lack experience
Information
Time & cost to get causes too great a delay
Can’t get
Situation changes too quickly
Founder has great experience, successful track record & has a “gut feel” for the business

13. “Writing a business plan is a life changing event.”
Comfortable with
Uncertainty
Lack of information
Working in groups
Frustrating
Puzzle pieces keep changing shape
May not be a lot of information
Synthesis vs. Analysis - creative
Conflict - normal, desirable
All consuming
Most common criticism on FCQ; should be 4 credits
Ultimately, very rewarding
Put your education together
Excellent resume item
Accomplishment
Who said that?
STOP: Exercise teams of 4, 10 minutes
Is this a good opportunity?

14. Is This a Real Business? Objective: set the stage
Face to Face research
Secondary research
Present to entrepreneurs & investors Week 6 Oct 15

15. Discuss Concepts

16. Concept & Team Selection Process
ASAP Business Concept Description as a Word attachment to Instructors
Must have your name & concept name in file name and on the attachment
One day later instructor to will approve concepts
Sept 17 (Wed) Complete formation of teams

17. Concept Description Brief description
Why is there an opportunity/need?
What is the product/service?
Who is the target market?
What are the benefits to the target market?
Who is the competition? Your competitive advantage.
Profitability.

18. Assignments for Next Week
Review MBAX 6100
Download Writing a Successful Business Plan
Decide on a concept & select team, Instructors for approval
Hand in F2F-R Step 1: Gut Check