Business English Upper Intermediate 117109-01 John Silberstein johnsilb@aol.com

Agenda Current Events Writing a business plan Entrepreneur Exercise Breaking into Groups

This Market Rally May Be for Real What is meant by “the bottom?” What other signs are there that the U.S. economy is coming back to life? Why is 55% significant? What two things does the author mention that could still go wrong?

Business Plan Project What is a business plan? A business plan is a written description of your business’s future. It’s a document that describes what you plan to do and how you plan to do it.

Business Plan Project Plan Your Plan Purpose Business Objectives Financial Goals Resource estimation and allocation

Elements of a Business Plan Business Plan Project Elements of a Business Plan Executive Summary Company Summary Market Opportunity The Product/Service Marketing Strategy Competitive Analysis Operations Financial Components

Business Plan Project Executive Summary Most Important Part 1 Min Test 1 Page Long Concise Explanation Written LAST

Business Plan Project Company Summary Company Ownership Company History Management Team (Most Important)

Business Plan Project Market Opportunity The Problem Customer Needs Definable Meaningful Sizable Reachable Your Solution

Business Plan Project The Product/Service Your Product/Service Value for Customers Competitive Advantages

Business Plan Project Marketing Strategy Product Pricing Promotion Place

Business Plan Project Competitive Analysis Strengths Weaknesses Opportunities Threats

Business Plan Project Operations Implementation/Development Strategy Logistics R & D

Business Plan Project Financial Components Cash Flow Statement Income Statement Balance Sheet

Business Plan Project Most Common Mistakes Unrealistic No clear plan for progress Failing to describe the product in layman’s terms Lack of market research Lack of competitor research Incomplete financials Lack of valuation and exit strategy