Business Plan Preparation Aerospace Engineering Frank Moyes Leeds

Business Plan Preparation Aerospace Engineering Frank Moyes Leeds College of Business University of Colorado Boulder, Colorado Frank Moyes 1

Why Write a Business Plan? n Road Map n n Action Plan n n Establish goals to make sure that are on track and heading in the right direction Small steps lead to large results Sales Tool n Attract investors, vendors, customers, partners, employees “If we don’t have a plan for ourselves, we will be part of someone else’s. ” Joan Lunden 2

Ask Yourself 3 Questions Will any one buy it? n Can it make money? n What is my competitive advantage? n Frank Moyes 3

Will Anyone Buy It? Need - what problem are you solving? n Size, growth & trends of YOUR market n Target customer – Who will buy it? Why? n Frank Moyes 4

Can I Make Money? n High Margins n Low prices are not the answer Clear Revenue Model n Positive cash flow n Frank Moyes 5

What Is My Competitive Advantage? Who is the competition? n How can I differentiate? n How can I sustain the advantage? n Frank Moyes 6

Questionable Competitive Advantages “We will be first to market. ” n “We have filed a patent. ” n “We have the best quality. ” n “We have lower costs than the competition. ” n Frank Moyes 7

Business Plan Elements n n n n n Executive Summary Product or Service Description Industry and Marketplace Analysis Marketing Plan Operations Plan Development Plan Management Competitive Advantage Financial Projections Offering, Funding, Valuation Frank Moyes 8

Course Overview n Course reference n n n Class structure n n First – lecture Second – in-class assignment Team meetings with instructor Research n n n EMEN 4825 Business Plan Preparation ESBM 4830 Business Plan Preparation Interviews with experts about the concept Customer surveys about the product/service In the Fire sessions Frank Moyes 9

Resources & Tools n http: //leeds-faculty. colorado. edu/moyes n n n Lawrence & Moyes, Writing a Successful Business Plan, 2009 Financial Projections Model v 6. 8. 9 John Mullins, The New Business Road Test, FT Prentice Hall Frank Moyes 10