1. Planning for Business Success

2. SESSION AGENDA Why Do Businesses Succeed? Why Do Businesses Fail?
The Business Plan: Your Plan to do Business
Professionalism in Business – First Impressions Count!
Strengths ~ Weaknesses ~ Opportunities ~ Threats

3. “By failing to prepare, you are preparing to fail.”
Benjamin Franklin

4. WHY DO
BUSINESSES SUCCEED?

5. SUCCESSFUL BUSINESSES WIN ON ONE OR MORE OF THE FOLLOWING “COMPETITIVE DIMENSIONS”:
i. Price
ii. Quality
iii. Convenience
iv. Service
v. Superior Marketing
vi. Hard Work
NOTE: Pick one or two of these (based on customer feedback) to really focus on/be known for in the marketplace – it’s very difficult to be exceptional in ALL of these areas!!!

6. WHY DO BUSINESSES FAIL?
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7. REASONS FOR BUSINESS FAILURE
Lack of experience
Insufficient capital (money)
Poor location
Poor inventory management
Over-investment in fixed assets
Poor credit arrangement management
Personal use of business funds
Unexpected growth
Aimes, Michael. Small Business Management.

8. THE BUSINESS PLAN: ITS PURPOSE
Action Plan
Road Map
Sales Tool
The business plan is the entrepreneur’s roadmap
for a successful enterprise.

9. THE BUSINESS PLAN What is it? Why do I need one?
The business plan is a written document that details the proposed venture. It must describe current status, expected needs, and projected results of the new [or existing] business.
Why do I need one?
To tell a clear picture of what the venture is, where it is projected to go, and how the entrepreneur proposes it will get there.
To test the viability of the business for you and others (e.g. lenders, investors, customers)

10. THE BUSINESS PLAN
Answers the following questions:
What your business is and what its niche or role in the marketplace is (what need it addresses)
Who your customers are and why they will buy from you (and not your competitors)
How you will operate your business; Who will do what?
Projected financials and expected expenses
What your goals are and why they are realistic
Slide for

11. A BUSINESS PLAN A plan is a reflection of its creator
Sometimes the primary benefit of preparing a plan is the realization that a business idea just won’t work!
The real value in preparing a plan is not as much in the plan itself as it is in the process of creating it
Copyright ©2009 Pearson Education, Inc. Publishing as Prentice Hall

12. TAKING THE TIME TO BUILD A BUSINESS PLAN…
Although building a plan does not guarantee success, it does increase your chances of succeeding in business
A plan is like a road map that serves as a guide on a journey through unfamiliar, harsh, and dangerous territory. Don’t attempt the trip without a map!
Copyright ©2009 Pearson Education, Inc. Publishing as Prentice Hall

13. WRITING A BUSINESS PLAN
Typical plan is 25 to 50 pages long
Like every business venture, every business plan is unique
Use it to tell your company’s story
Copyright ©2009 Pearson Education, Inc. Publishing as Prentice Hall

14. KEY ELEMENTS OF A BUSINESS PLAN
Title Page and Table of Contents
Executive Summary
The Business Description
The Industry
The Market
Marketing Plan
Financial Plan/Projections
Attachments/Exhibits
Labels: Excel
NDC. Plan It Training Curriculum.

15. Co Starters Model Canvas

16. NEXT STEPS Look at business plan samples online
Bplans
Fill out the Business Model Canvas
Complete initial SWOT Analysis of your business
Submit your idea to the Balsa Foundation Idea Support: and check out the Entrepreneur Roadmap
Labels/new list

17. WHAT MOTIVATES YOU? • What is your reason for starting a business?
– Passionate about an idea?
– Need a job?
– Like to be the boss?
• What are your goals?
– Time
– Money, family/relationships,
– Control of professional life?
• Are your goals compatible with entrepreneurship?

18. CONTACT INFORMATION
Name: Gabriela Ramírez-Darris
Phone: