1. Developing Your Business Plan
Show Me The Money!

2. What is an Entrepreneur?
An entrepreneur is a person who organizes, operates and assumes the risk for a business venture.

3. What is a Business Plan?
A business plan is a document that describes a new business and a strategy to launch that business.

4. Why Do You Need A Business Plan?
The primary functions of a business plan are:
Set goals & objectives for the
business to follow (road map)
To attract potential investors
To acquire financing
To attract quality employees

5. Components of a Business Plan
Cover Page
Marketing Plan
Executive Summary
Operations Plan
Company Description
Schedule of Startup Funds
Product /Service Plan
Projected Income Statement
Mission and Vision Statements
Management Team Plan
(Owner’s credentials – resume)
Market Analysis
Supporting Documents

6. What is an Executive Summary?
is an overview.
The purpose of an executive summary is to summarize the key points of a document for its readers, saving them time and preparing them for the upcoming content.

7. What is a Company Description?
The company description section of the business plan outlines the company’s background information and basic business concept.

8. What is a Product/Service Plan?
In the product and service
plan section of the
business plan, you
present the nature
of your business and
the unique features
of the product or service.

9. What is a Mission/Vision Statement?
The vision statement and mission statement
state the
guiding
principles by which a company functions.
vision statement a declaration of the scope and purpose of a company
mission statement a declaration of the specific aspirations of a company, the major goals for which it will strive

10. What is a Market Analysis?
This section provides analysis of the conditions and trends
in an industry, the target
market (or customer
profile) of the business,
and a detailed analysis
of the competition

11. What is a Marketing Plan?
A marketing plan discusses how a company plans to make its customers aware of its products or services. It also describes the market niche, pricing, company image, marketing tactics, a media plan, and a marketing budget.

12. What is an Operations Plan?
This section details the operations of the business from acquiring materials and supplies to the distribution of the products and/or services to customers.

13. What is a Financial Plan?
This section details the
plan for use of start-up
funds, as well as
projections for the future
of the business.

14. What is a Management Team Plan?
The management team plan presents your qualifications (as well as those of any partners you may have). You must describe how you (or your team) have the capabilities to execute your
business plan.

15. Characteristics of a Good Business Plan
Although business plans vary in styles, content and format, all business plans should be:
Neat
Organized
Professional
Well-written & well-designed
Thorough; highlighting important
aspects of the business

16. Characteristics of a Good Business Plan
Every business plan should have a cover page, a title page, a table of contents, and supporting documents.
Make a research plan and gather data.
Set up a notebook to organize data.
Write a first draft.

17. Common Mistakes in Preparing Business Plans
projecting exaggerated growth levels
trying to have expertise in all areas
claiming performance above industry averages
underestimating the need for capital

18. Review Questions What are two functions of the business plan?
What is an executive summary & what is it’s purpose?
What is a common mistake made in writing a business plan?