Writing a Winning Business Plan. A business plan is a strategy for creating, launching and managing a new venture. It answers the questions of A business.
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Presentation on theme: "Writing a Winning Business Plan. A business plan is a strategy for creating, launching and managing a new venture. It answers the questions of A business."— Presentation transcript:
A business plan is a strategy for creating, launching and managing a new venture. It answers the questions of A business plan is a strategy for creating, launching and managing a new venture. It answers the questions of What, Why, Who, When and Where. Most important, it answers the question of How.
Success begins with a great opportunity. A viable opportunity exists when: You have intimate knowledge of the industry (products, services, competitors, customers’ needs, missing pieces) You meet an important need or want that currently is not being met in the market You can execute a viable business in the industry (robust market, healthy margins, early cash flow, high profit potential, a strong team, customer ready to buy)
Components of the Plan Cover Page Table of Contents Executive Summary Business Description Products and Services Market and Marketing Strategy Management/Organizational Plan Financial Summary Implementation Plan
Cover Page Name of new business Name of founders Contact information Date of plan
Table of Contents Includes major sections and page numbers Includes sub-sections and page numbers
Executive Summary 2 to 3 pages in length in full plan Brief description of business, products and services, competitive advantage Brief overview of marketing strategy Brief overview of management plan Brief overview of financial summary including sales and profit projections
Business Description Purpose of business venture Mission, vision and values Long-term goals/objectives Legal structure and ownership
Products and Services Products, services and features Positioning, pricing and margins Unique competitive advantages Intellectual property (trademarks, patents, copyrights if any) Critical technology required Government/environmental issues
Market and Marketing Plan Detailed assessment of industry Evaluation of major competitors Market size for products/services Market segments/customer profiles Target customers and/or companies Channels for product distribution Sales and marketing strategies
Management Plan Members of the management team Structure of organization and roles Acquisition/sourcing of materials Production/assembly of products Packaging and distribution Customer service strategy
Financial Summary Financing required for venture Timing of financing stages Financial projections (3 to 5 years) Cash flow analysis Break-even analysis Expectations for ROI
Implementation Plan Major objectives for the first year of operation Specific action plans for achieving each objective
Sample business plans can be viewed on the following websites: www. bplans.com www.businessplans.org