1. Pulling the Plan Together Create A Finished Business Plan 15-1Copyright © 2011 Nelson Education Ltd. chapter 1515 Prepared by Ron Knowles Algonquin College & Jennifer Rouse Barbeau Canadore College

2. Chapter Overview Chapter 15 will:  Guide you in the final assembly of your business plan building blocks.  Assist you in writing your plan for maximum clarity and impact.  Assist you in compiling and presenting the executive summary, table of contents, and appendices.  Help you present the completed plan. 15-2Copyright © 2011 Nelson Education Ltd. chapter 1515

3. Learning Opportunities  Gather all the information you have together into one coherent unit, which becomes a working showcase for your business.  Study a sample business plan to see how one group of entrepreneurs defined and presented their business.  Match or surpass the sample business plan in value-added information, research, and effectiveness.  Complete a PERT chart to organize the work ahead.  Put your finished business plan to work with passion. 15-3Copyright © 2011 Nelson Education Ltd. chapter 1515

4. Getting Started Before you begin writing your business plan:  Think about the need of your target audience.  Think about your elevator pitch.  Get your mentor and advisory team on board.  Consider how your plan will showcase your passion and confidence.  Gather all the competed Action Steps.  Consider starting with the material you feel most comfortable with. 15-4Copyright © 2011 Nelson Education Ltd.

5. 1: Use Words Writing Your Business Plan: 1: Use Words Use words to introduce your strategies for:   Marketing Production Management 15-5 Hook your readers with clear & exciting descriptions about:   Creating a business   Assessing the competition   Designing a marketing plan   Targeting customers   Finding the right location   Building a team Copyright © 2011 Nelson Education Ltd.

6. Your target readers are:  Bankers  Credit managers  Venture capitalists  Vendors  Small business and commercial credit lenders 15-6 Include financials such as:  Income statements  Cash-flow projections  Projected balance sheets  Ratio analyses Copyright © 2011 Nelson Education Ltd. 2: Use Numbers & Facts Writing Your Business Plan: 2: Use Numbers & Facts

7. 15-7Copyright © 2011 Nelson Education Ltd. 3: Include Support Information Writing Your Business Plan: 3: Include Support Information

8. Some General Guidelines Outside Assistance  Write the plan yourself  Have the plan reviewedReminders  A business plan does not guarantee success  The plan should be easy to read  No grammatical errors  Make the plan easy for your reader to write notes  Include how the reader can reach you 15-8Copyright © 2011 Nelson Education Ltd.

9. The Cover Letter Summarize your plan in a way that will achieve the most good.   Introduce the excitement of your plan.   Tell why you are sending the plan.   Your letter needs to give a good impression. Remember that: 1. 1.The reader will judge your plan based on this letter. 2. 2.A good cover letter will make its reader want to become involved in your venture. 15-9Copyright © 2011 Nelson Education Ltd.

10. Sample Table of Contents (Box 15.3) 15-10Copyright © 2011 Nelson Education Ltd.

11. Executive Summary The executive summary   Serves as an introduction to the business plan.   Acquaints the reader with the subject of the material that follows.   Provides “hard” numerical data and facts (which lenders prefer).   Normally appears right after the table of contents.  after  Is written after the plan is completed. 15-11Copyright © 2011 Nelson Education Ltd.

12. Description of the Business Section I: Description of the Business Part A: Business Description   An example is provided in Box 15.5.   To get started, complete Action Step 65. Part B: The Market and the Target Customer   An example is provided in Box 15.6.   To get started, complete Action Step 66. Part C: The Competition   An example is provided in Box 15.7.   To get started, complete Action Step 67. Part D: Marketing Strategy   An example is provided in Box 15.8.   To get started, complete Action Step 68. 15-12Copyright © 2011 Nelson Education Ltd.

13. Part E: Location   An example is provided in Box 15.9.   To get started, complete Action Step 69. Part F: Management   An example is provided in Box 15.10.   To get started, complete Action Step 70. Part G: Human Resources   An example is provided in Box 15.11.   To get started, complete Action Step 71. 15-13Copyright © 2011 Nelson Education Ltd. Description of the Business Section I: Description of the Business

14. Financial Section Section II: Financial Section Now you’re ready to organize your numbers into 4 standard areas: 1.Opening and projected balance sheets 2.Cash flow projection 3.Projected income statement 4.Supporting financial information and analysis 15-14Copyright © 2011 Nelson Education Ltd.

15. What is a PERT Chart? 15-15Copyright © 2011 Nelson Education Ltd. Pert stands for: Program Evaluation & Review Technique.  A PERT Chart serves as a script.  It will also tell you & your team members how long certain jobs should take.

16. Sample PERT Chart 15-16Copyright © 2011 Nelson Education Ltd.

17. Chapter 15 shows you how to create a finished business plan:   Business Plan: a portable showcase for your small business 15-17Copyright © 2011 Nelson Education Ltd. Business Plan Business Plan Building Block

18.   How will your business idea contribute to society in general?   In what way does your product or service differ from that of your competitors?   What are the critical success factors for your business?   How would your customers define your quality and level of customer service? 15-18Copyright © 2011 Nelson Education Ltd. Your Business Plan Checklist for Your Business Plan

19.   In completing your business plan, ask yourself: Have I been consistent in my thinking that the quality of sales staff fits the image I wish to convey? Has money been set aside for appropriate training?   What social responsibility practices do you intend to follow?   If your business is successful, what is your long- term growth plan?   Will you achieve your personal vision? 15-19Copyright © 2011 Nelson Education Ltd. Your Business Plan Checklist for Your Business Plan

20. Good Luck! Work Smart & Enjoy the Adventure 15-20Copyright © 2011 Nelson Education Ltd.