1. Business Plan Preparation Introduction
Frank Moyes Leeds School of Business University of Colorado Boulder, Colorado
Business Plan Preparation: Introduction

2. Tonight’s Agenda Introductions Course organization & syllabus
Writing a business plan
Discuss your ideas
Students introduce selves
Major
What have done that is entrepreneurial?
What want from course?
What is your wicked idea?
Frank Moyes
David Drake
Business Plan Preparation: Introduction

3. Communications Frank Moyes frank.moyes@colorado.edu
Communications
Frank Moyes
Office Hours: Fleming 115(165)
Wednesday 3:00 to 5:30pm
Thursday 4:00 to 6:00pm
And by appointment
Website
Business Plan Preparation: Introduction

4. Materials
Lawrence and Moyes, “Writing a Successful Business Plan”, 2006
Moyes and Lawrence, “Financial Spreadsheets for the Business Plan”
Business Plan Preparation: Introduction

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
Review materials
Website:
“Everything is vague to a degree you do not realize till you have tried to make it precise.”
Bertrand Russell
Business Plan Preparation: Introduction

6. Course Structure Weeks 1 & 2: Evaluate opportunities
Week 3: Select concept & team
Weeks 4 & 5: Market & Industry Analysis
Week 6 to 13: Instructor to describe a section of the business plan (Slides posted on course website)
Weeks 5 to 12: In the Fire sessions
Week 14: Present business plan & hand in
Week 15: 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
Business Plan Preparation: Introduction

7. Grading Individual Team Assignments Resume Concept Participation
Peer evaluation
Team Assignments
In the Fire sessions
Written assignments
Final Business Plan & Presentation
Business Plan Preparation: Introduction

8. Business Plan Elements
Executive Summary
Company Overview
Product/Service Description
Market & Industry Analysis
Marketing Plan
Operations Plan
Development Plan
Management
Competitive Advantage
Financial Plan
Funding
Business Plan Preparation: Introduction

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 to 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
Business Plan Preparation: Introduction

10. A Good Business Plan Living document Creates excitement Tells a story
Compelling description of the vision & strategy
Not a substitute for action
"You can't overestimate the need to plan and prepare. In most of the mistakes I've made, there has been this common theme of inadequate planning beforehand. You really can't over-prepare in business!“ Chris Corrigan
Business Plan Preparation: Introduction

11. 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
Business Plan Preparation: Introduction

12. “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?
Business Plan Preparation: Introduction

13. Discuss Ideas
Business Plan Preparation: Introduction

14. “From Student to Entrepreneur” Approach to Generate Ideas
Doing what you love
What bugs you
Use your experience
Recycle business concept
Steps, pain points & solutions
Developed by Neal Lurie, MBA 2004
Business Plan Preparation: Introduction

15. Concept & Team Selection Process
Conduct Idea Exercise (download from website)
resume to instructor before Jan 24 as Word attachment (must have your name & Resume on file name)
Discuss your concept in class Jan 24 (use Concept Summary as a framework for explaining your concept)
Business Plan Preparation: Introduction

16. Concept & Team Selection Process (continued)
Concept Summary as a Word attachment to instructor by 1:00pm on Jan 26 (Friday) (must have your name & Concept name in file name)
Instructor to all students which concepts with the greatest potential that have been selected on Jan 29 (Monday)
Students whose idea are selected will form a teams of four on Jan 31 in class
Business Plan Preparation: Introduction

17. Concept Description Brief description
Why is there an opportunity/need?
What is the product/service? What are the unique benefits? How will it be produced or delivered?
Who is the target market?
What are the benefits to the target market?
Who is the competition? What advantages do you have over the competition?
Profitability
Revenue model
Contribution margins
Business Plan Preparation: Introduction

18. Assignments for Next Week
Resume: to instructor
Review ESBM 3700 materials on Opportunity Recognition
Identify an opportunity to discuss in class
Business Plan Preparation: Introduction