Business Plan Writing -Derek Safko-
Business Plan Components Executive Summary Company Description Products Industry Analysis & Trends Target Market Competition Marketing Plan Management & Organization Development, Milestones & Exit Plan Financials Appendices
Executive Summary Written last Summarizes your entire plan No more than two pages Be clear, be concise Assume readers will only read this Make them want to read more! This sets the tone for the rest of your plan
Company Description Break into the details of your business: Company Objectives/Mission Statement Legal Issues (partners, patents, etc.) Leadership Milestones To know the later details of your business plans, you must know the details about your company
Products Describe your products Costs and pricing Breakdown the margin Support your numbers! Benefits & advantages over the competition Projected volume Future product development
Industry Analysis & Trends Size & Growth Economic Sensitivity Seasonality Regulations/Certifications Supply & Distribution Channels
Target Market Market Size & Trends Demographics Psychographics Purchasing Patterns Buying Sensitivities Know your customers!!
Competition Do you really know your competition? Don’t downplay your competition! Competitive Positioning & Differentiation Global Competition Future Competition & Barriers to Entry
Marketing Plan Marketing Strategy Sales Structure How will you reach your customers? Sales Structure How will you sell your product?
Management & Organization Your people determine your success Board of Directors/Advisory Committee Key Employees Compensation
Development, Milestones, & Exit Plan Development to date Show off what you’ve done! Future Milestones Have a game plan Exit Plan Investors want to see this! Show that you’ve thought of the future and have a plan to follow Be ready to defend your timeline
Financials Revenue Forecast Loans / Investments Sought Detailed use of funds Income Statement (monthly & 5-year) Balance Sheet (1st year & 5-year) Cash Flow Statement (monthly & 5-year)
Financials Know your numbers!
Appendix Anything non-essential, but supportive to your plan Product Packaging Location Maps/Details Technical Information Not used in total page count Not required
Things To Remember Business plans come in many formats Viability is key Clear definition of problem with clear solution Avoid generalizations. Support statements with facts Write in 3rd person Be confident! “If” vs “when”, “hope” vs “will” Be realistic The more eyes, the better Have two pitch formats
Recommended Resources Simmons OneView Consumer profiles, brand preferences, shopping habits, lifestyles, etc. Use the tutorial 1 User ON CAMPUS Access IBISWorld Detailed industry information (market characteristics, current/future performance, competitive landscape, etc.) $925 per report! Access using your CU Denver Login Successful Business Plan –Rhonda Abrams $23.99 on Amazon
Recommended Resources
Questions?