50% of all new businesses fail within five years Why?

Causes of Business Failure lack of focus inexperience poor management insufficient capital poor (or no) planning So, why start a business?

So you can bring your dog to work

Can you overcome the obstacles? You can with a plan!

Why develop a business plan? Obtain financing Make decisions Say "No" Communicate to others Monitor and evaluate your progress

What is a business plan? Identifies and articulates the opportunity Explains why the opportunity exists Details how you will take advantage of the opportunity Quantifies the market potential Explains why you are the right person for the opportunity Details financial requirements Identifies and explains risks

What’s Next? If you choose the business option, you'll create a simplified version of a business plan One part of the plan is the summary or pitch. That's what we're going to practice today....