1. Strategy and Entrepreneurship:
The Elements of a Successful Business Plan
Wayne Smith, Ph.D.
Department of Management

2. Entrepreneurship and Intrepreneurship
Stanford Entrepreneurial Thought Leader webcasts/podcasts
(but that’s just more passive, academic study)
We need to do the hard work too…
That is, let’s design our success…
And for that, we need funding…
And for funding, we need a plan…

3. “VRIO” Analysis Often, successful entrepreneurs use “VRIO” Analysis.
Value
Is the product or process particularly valuable in some way?
Rarity
Is the product or process particularly rare (i.e., in few hands)?
Imitability
Is the product or process particularly hard to replicate?
Organization
Is there organizational capacity available to leverage the first three?

4. VRIO Analysis (compare to opportunities to expectations)
Marketable Products and
Operational Processes
Value?
Rarity?
Imitability?
Organization? …

5. A Business Plan (1 of 2) Executive Summary Company Description
Overview of business purpose and highlight of key elements of the plan
Company Description
Mission, Owners, and legal form
Industry Analysis
Nature of the Industry, including economic trends, important legal or regulatory issues, and potential risks
Market Description
Size of market, competitor strengths and weaknesses, and five-year sales goals
Products and Services Description
Major Goods or Services, with special focus on uniqueness vis-à-vis the competition

6. A Business Plan (2 of 2) Operations Description Staffing Description
Manufacturing or Service methods, supplies and suppliers, and control procedures
Staffing Description
Management and staffing skills needed and available, compensation and human resource management systems
Financial Projection
Cash flow projections for one to five years
Capital Needs
Amount of funds needed to run the business, amount available, amount requested from new sources

7. Relative Importance Very Short-run (1-6 months) (“the pitch”)
Products and Services Description
Market Description
Short-run (6-12 months) (“survival”)
Financial Projection
Company Description
Long-run (1-5 years) (“flourish”)
Capital Needs
Operations Description
Staffing Description
Very long-run (5-15 years) (“compete”)
Industry Analysis

8. CSUN Resources Ryan Holbrook (Entrepreneurship Program Director)
Office: JH4209
Phone:
Dr. Lois Shelton (Program Director, Entrepreneurship minor)
Office: JH4206
Phone:
Student Club