1. Chapter 7 The Business Planning Process
Bygrave & Zacharakis, Entrepreneurship, New York: Wiley. ©

2. Bygrave & Zacharakis, 2007. Entrepreneurship, New York: Wiley. ©
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”.
Bygrave & Zacharakis, Entrepreneurship, New York: Wiley. ©

3. Bygrave & Zacharakis, 2007. Entrepreneurship, New York: Wiley. ©
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.
Bygrave & Zacharakis, Entrepreneurship, New York: Wiley. ©

4. Bygrave & Zacharakis, 2007. Entrepreneurship, New York: Wiley. ©
The Business Planning Process
The Business Plan/the Cover & Table of Contents
The Cover
Controlling distribution is particularly important
The cover should be eye-catching
Bygrave & Zacharakis, Entrepreneurship, New York: Wiley. ©

5. Bygrave & Zacharakis, 2007. Entrepreneurship, New York: Wiley. ©
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
Bygrave & Zacharakis, Entrepreneurship, New York: Wiley. ©

6. Bygrave & Zacharakis, 2007. Entrepreneurship, New York: Wiley. ©
The Business Planning Process
The Business Plan/Main Parts
Appendix
Bygrave & Zacharakis, Entrepreneurship, New York: Wiley. ©

7. Bygrave & Zacharakis, 2007. Entrepreneurship, New York: Wiley. ©
The Business Planning Process
Types of Plans
Operational Plan for internal use 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.
Bygrave & Zacharakis, Entrepreneurship, New York: Wiley. ©

8. Bygrave & Zacharakis, 2007. Entrepreneurship, New York: Wiley. ©
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.
Bygrave & Zacharakis, Entrepreneurship, New York: Wiley. ©