Business Plan Preparation Frank Moyes Leeds School of
Business Plan Preparation Frank Moyes Leeds School of Business University of Colorado Boulder, Colorado Framework for the Business Plan 1
Tonight’s Agenda n Present concepts & select teams n Review Writing a Successful Business Plan Research - importance of validation n Team meetings n Framework for the Business Plan 2
Team Dynamics All team members must meet at least once per week to review progress and create plan n Set time and place for weekly meeting n Assign responsibility for assignments n Set completion dates n Framework for the Business Plan 3
Process When One Team Member Not Pulling Weight 1. 2. 3. 4. 5. Team meets for frank discussion of what is the problem & decides how to resolve it Team brings problem to Instructor who will make suggestions on how to resolve Instructor meets with entire team to try to resolve Instructor meets with team member who is the cause of the problem and tries to resolve Team fires team member Framework for the Business Plan 4
Market Research n Primary n n n Interviews - talk to people Customer surveys – talk to customers Secondary – research market & industry Framework for the Business Plan 5
Interviews n Each team member talk to 5 people n n Complete Call Reports (must be typed) Remember 2 questions must ask at the end n n What question haven’t I asked that I should? Who else should I talk to? Framework for the Business Plan 6
Customer Surveys Do customers recognize that they need your product/service? n Are features compelling? n Criteria for buying decisions? Who influences the decision? n How much will they pay? n Why would they not buy? n Do they understand the benefits? n Framework for the Business Plan 7
Secondary Research n Market is n n n Big enough & growing Positive trends You can enter n n Understand competition Competitive environment favorable to new entries Framework for the Business Plan 8
Market Research - Conclusion n Validation of your venture n n n There is good market You can compete Evidence that customer n n Needs the product/service Will buy it Framework for the Business Plan 9
Business Plan Elements n n n n n Executive Summary Product or Service Description Market & Industry Analysis Marketing Plan Operations Plan Development Plan Management Competitive Advantage Financial Projections Offering, Funding, Valuation Framework for the Business Plan 10
Business Plan Elements n Executive Summary Framework for the Business Plan n Last to be written 11
Business Plan Elements n Product/Service Description Framework for the Business Plan n Features and Benefits 12
Business Plan Elements n Market & Industry Analysis Framework for the Business Plan n Segments Size and Trends Competition 13
Business Plan Elements n n Marketing Plan n n Framework for the Business Plan Target Customer Positioning Pricing Advertising & Promotion Distribution Sales 14
Business Plan Elements n Operations Plan Framework for the Business Plan n n Scope of Operations On-going Operations 15
Business Plan Elements n Development Plan Framework for the Business Plan n Key Milestones 16
Business Plan Elements n Management Framework for the Business Plan n n Organization Team 17
Business Plan Elements n Competitive Advantage Framework for the Business Plan n Sustainable 18
Business Plan Elements n n Financial Projections n n n Framework for the Business Plan Income Statement Balance Sheet Cash Flow Risks 19
Business Plan Elements n Offering, Funding & Valuation Framework for the Business Plan n n Valuation of Business Request for Funding 20
Next Week n MARKET & INDUSTRY ANALYSIS n n n n Opportunity/Need Segmentation Value Chain Financial COMP’s COMPETITIVE ADVANTAGE Hand-in Interview list – 20 names Gene Hayworth – Leeds School librarian No review of business plan examples Framework for the Business Plan 21
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