W. Bygrave and A. Zacharakis (2007) Entrepreneurship. The Business Planning Process.

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Presentation transcript:

W. Bygrave and A. Zacharakis (2007) Entrepreneurship. The Business Planning Process

W. Bygrave and A. Zacharakis (2007) Entrepreneurship. The Business Planning Process  Start business planning literally when starting to think about a new venture.  Start organizing information.  Focus on critical aspects of the business model and map to the typical format.  Keep in mind that the business plan is a “living document”.

W. Bygrave and A. Zacharakis (2007) Entrepreneurship. The Business Planning Process The Story Model  How will stakeholders interpret your plan?  A tagline creates a unifying plot line that organizes your thinking  Keep your plan as close to “general format” as possible.

W. Bygrave and A. Zacharakis (2007) Entrepreneurship. The Business Planning Process The Business Plan/the Cover & Table of Contents T h e C o v e r CC o n t r o l l i n g d i s t r i b u t i o n i s p a r t i c u l a r l y i m p o r t a n t TT h e c o v e r s h o u l d b e e y e - c a t c h i n g

W. Bygrave and A. Zacharakis (2007) Entrepreneurship. The Business Planning Process The Business Plan/Executive Summary  Write Executive Summary after working through all the other sections;  Hook the reader;  Provide compelling information on the following: - Description of Opportunity - Business Concept - Industry Overview - Target Market - Competitive Advantage - Business Model and Economics - Team and Offering

W. Bygrave and A. Zacharakis (2007) Entrepreneurship. The Business Planning Process The Business Plan/Main Parts ExecutiveSummary Company&ProductDescription Marketing Plan Operations Development Plan Team Critical Risks Financial Plan Industry & Competitor Analysis Analysis Appendix p

W. Bygrave and A. Zacharakis (2007) Entrepreneurship. The Business Planning Process Types of Plans  Operational Plan for internal use. 80+ pages long.  Formal plan for external use. 25 to 40 pages long.  An expanded executive summary for enticing interested stakeholders. 7 to 10 pages long.

W. Bygrave and A. Zacharakis (2007) Entrepreneurship. The Business Planning Process Conclusion  The process allows the entrepreneur to better anticipate instead of react.  Entrepreneurs can get feedback from experts, including investors, vendors and customers.