10/17/0112 Sales and marketing STP (segment, target, position) Pricing Strategies Tactics Marketing plan
10/17/0113 Management Founders/owners Operations Board of directors Board of advisors = Proven team with past success and drive to succeed again.
10/17/0114 VOSG I appendix Summary of market research done to date Contact names and numbers of people talked to (suppliers, partners, experts) Customer contact summary (survey results, etc.) Sample of survey or questions asked Summary of future market research
10/17/0116 Purpose of the business plan External –credibility –raising money –selling the business –strategic partners –basis for grants Internal –goals –control –new product idea
10/17/0117 Essence of the plan What is your business? Why will you succeed? Who will buy? Why should I believe you? What is the opportunity ? = The Story
10/17/0118 Key elements Economically viable product or service with attractive markets. Established attack plan that can be replicated. Seasoned management team that has demonstrated that it can carry out the attack plan.
10/17/0119 Key drivers What are the key drivers to the venture’s success? –Manufacturing - yield on a production process –Magazine publishing - anticipated renewal rate –Software - distribution At what level of sales does business begin to make a profit? When does cash flow turn positive?
10/17/0120 9 key questions 1. Who is the new venture’s customer? 2. How does the customer make decisions about buying the product or service? 3. To what degree is the product or service a compelling purchase? 4. How will the product be priced? 5. How will the venture reach all the identified customer segments?
10/17/0121 9 questions continued 6. How much does it cost (time, resources) to acquire a customer. 7. How much does it cost to produce and deliver the product or service? 8. How much does it cost to support a customer? 9. How easy is it to retain a customer?
10/17/0122 Critical success factors People -founders, management and support Opportunity -profile of business Context -big picture (opportunities and threats) Risk and reward -what can go wrong and right - response
10/17/0123 Time Money time to positive cash flow potential reward