1. Mr. Young Business Management Crafting a Winning Business Plan

2. Mr. Young Business Management The Business Plan Basics Defines your business Identifies your goals Serves as your companies resume

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4. Turn your idea into a Million-Dollar Startup Settle on one business idea Validate your idea Execute Find a large market Make it a must-have, not a nice-to- have Mr. Young Business Management

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6. Why Take the Time to Build a Business Plan? It 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!

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8. Our Definition of a Business Plan It is a document that convincingly demonstrates that your business can sell enough of its product or service to make a satisfactory profit and be attractive to potential backersIt is a document that convincingly demonstrates that your business can sell enough of its product or service to make a satisfactory profit and be attractive to potential backers It is a selling documentIt is a selling document It is sold to all backers: bankers, investors, partners, employeesIt is sold to all backers: bankers, investors, partners, employees

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10. Goals of Business Plan Consider important aspects and decide whether to “go or no go” Initial planning document for a new business Serves as a tool to communicate the idea of the new venture to potential investors, bankers, key employees Serves as a record to monitor and compare results

11. Mr. Young Business Management Two Essential Functions Business Plan – a written summary of: An entrepreneur’s proposed business venture Its operational and financial details Its marketing opportunities and strategy Its managers skills and abilities

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13. Two Essential Functions Guides the company by charting its future course Defines it strategy Attracts lenders and investors who will provide needed capital

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15. Who Needs to Write/See the Business Plan? Most banks loaning money Most banks loaning money Investors or partners who have some doubts about your abilities/integrity Investors or partners who have some doubts about your abilities/integrity Highly required or important potential employees Highly required or important potential employees Anyone wondering if they should take the risk Anyone wondering if they should take the risk

16. Mr. Young Business Management How Can a Business Plan Help a Company? Obtain bank financing Seek investment funding Arrange strategic alliances small/large companies Obtain large contracts

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18. How Can a Business Plan Help a Company? Attract key employees Attract key employees Completing mergers and acquisitions Completing mergers and acquisitions Motivates management team Motivates management team Causes everyone to be working toward the same goal Causes everyone to be working toward the same goal Lays out financial, marketing and production goals Lays out financial, marketing and production goals