BUSINESS PLAN 101 INTRODUCTION An overview of the

BUSINESS PLAN 101 - INTRODUCTION An overview of the why, what, how, and when of a business plan. Just the basics.

INTRODUCTION “Setting goals is the first step in turning the invisible into the visible. ” ― Tony Robbins This presentation will give you a basic understanding of what a business plan is and why you should get started on yours today!

WHAT IS A BUSINESS PLAN? WHAT “A blueprint for organization and action. ” • Defines where you are. • Helps you determine where you want your business to go. • Identifies the tools you need along the way. • Develops a path to get there with accountability and measurable actions

HOW DO I GET STARTED? “The secret to getting ahead is getting started. ” ― Mark Twain Understand your product or service Know what you have and what you want to offer Identify your target market Companies and individuals that will benefit from your product or service Create a VISION statement Develop a value proposition Benefits that your target market will receive What you want your business to look like in the future

WHY DO I NEED IT? WHY “Even if you’re on the right track, you’ll get run over if you just sit there. ” ― Will Rogers So you can stay on track with your vision Manage Your Time Measure Progress Shows you opportunities to iterate and pivot and get back on track. Provides a path to being effective and productive every day Incorporate Accountability Holds you accountable to accomplish daily goals for you and your business

WHEN SHOULD I CREATE IT? “The future depends on what you do today. ” ― Mahatma Gandhi A business plan is a work in progress. It is a significant piece of the puzzle and can lead you down a path of success. R TH BU ILD Spend time at the beginning to ensure you have all of your ducks in a row. The path may change over time, however, it’s a good place to start. Even a successful business needs a road map to the future. A plan will help manage your success and keep the momentum going. There are unexpected turns E IV in every business. A good V R SU IVE plan will provide you insight to avoid them as your business grows and changes.

WHERE TO NEXT? NEXT “Never forget why you started. ” Now that you know what to expect, let’s get started. In Business Plan 102, we will begin the building process. • Define your product/service • Identify your customer • Develop a value proposition.