Click to edit Master title style Creating A

Click to edit Master title style Creating A Business Plan Joshua Orlinsky

Who we are - SCORE Broward • Nonprofit. Established 56 years ago • Very strong chapter with continuous business community involvement • Cadre of 70 volunteers • 2, 500 face-to-face mentoring sessions/yr. • 5, 500 South Florida entrepreneurs/yr. attend our workshops

Webinar/Workshop Guidelines • This webinar is being recorded • Upon completion you will receive an email with: § The url to a recording of this webinar § A. pdf copy of this presentation § Any supporting documents I refer to § Ask questions as we go by using the “Q&A” button on your screen

Introduction • My name is Josh Orlinsky • I founded and own Equiturn Business Solutions, Inc. , Equiturn Capital, LLC & Equiturn Pharma Solutions, LLC • I have been doing management consulting for 12 years • My company focuses on capital raising, finance, sales, marketing and management strategies for established companies and startups

Business Success Rates Planning is key! • 2 Year Success Rate • 5 Year Success Rate

What is a business plan? • Looking ahead and determining the directions you want to take your business • A business plan can be: – A formal written document – Doodles on the back of a napkin – The results of brainstorming on a white board – Bullet points in an e-mail • The key is to have a plan that you as an owner/manager can initiate actions on to achieve.

Key Benefits of a Business Plan • Internal blueprint for strategy, improvement, direction & growth • Explain business to potential investors, business partners, customers, or suppliers • Often times needed for debt financing • Useful to share for strategic partnerships • Attract key people to the business

Getting Started

1. Value Proposition • How your product or service solves/improves problems • What benefits customers can expect • Why customers should buy from you over your competitors It introduces you to prospective buyers and helps you make a strong first impression. That's why it is so important to have a powerful one.

Value Proposition Example Apple has great value propositions for every product, but one that is particularly impressive is its statement for the Mac. Book. In this witty example, Apple emphasizes how lightweight its product is (its biggest differentiator), while also speaking to how advanced its technology is. That Apple. . . always "light years ahead" (even in marketing. )

2. Customer Segmentation Customer segmentation is the process of dividing customers into groups based on common characteristics so companies can market to each group effectively and appropriately. In business-to-business marketing, a company might segment customers according to a wide range of factors, including: • • Industry Number of employees Products previously purchased from the company Location

3. Channels Outlets: 1. Phone 2. Live Chat 3. Email 4. Social Media 5. Video-Assisted 6. Self-Service

4. Customer Relationships Customer relationship management is an approach to managing a company's interaction with current and potential customers. It uses data analysis about customers' history with a company to improve business relationships with customers, specifically focusing on customer retention and ultimately driving sales growth.

5. Revenue Streams

6. Key Resources

7. Cost Structure

Click to edit Master title style Writing a Business Plan

Business Plan Table of Contents 1. Executive Summary 2. Company Description 3. Market Analysis 4. Competitive Analysis 5. Management & Operational Structure 6. Marketing & Sales Plan 7. Financial Summary & Projections

Executive Summary • A description of your product or service and the problem your business solves • A description of your target market • Competition • Financial Overview • Your Team • Funding Needs • Future Milestones • Evidence of Financial Stability

Company Description

Market Analysis

Competitive Analysis – Some Questions to Ask • What are their strengths? Price, service, convenience, extensive inventory are all areas where you may be vulnerable. • What are their weaknesses? Weaknesses are opportunities you should plan to take advantage of. • What are their basic objectives? Do they seek to gain market share? Do they attempt to capture premium clients? See your industry through their eyes. What are they trying to achieve? • What marketing strategies do they use? Look at their advertising, public relations, etc. • How can you take market share away from their business? • How will they respond when you enter the market?

Management & Operational Structure Key Elements to Include • • • Organizational Structure Legal Structure Ownership Information Board of Directors Profiles of Management Team Number of Employees Operational Strategy Process Streamline Strategy Management Reporting

Marketing & Sales Plan Explain how you’ll find and create customers by defining your marketing and sales strategies. For marketing, discuss your communications strategy as well as how and where you’ll share your messaging. Make sure to understand your target demographics and customer segmentation. For sales, focus on who will handle sales (and how you’ll train any outside help) and what tactics you’ll use to identify, attract, and convert leads.

Financial Summary & Projection Key Components: - Revenue Projections Cost of Goods Sold Projected Expenses Cashflow Summary Debt Servicing Unplanned Expenses Profitability Targets Finish your business plan with information about your company’s financial health and future. You can include expected gross income or other financial predictions, but keep them grounded in reality. This is a good place to include income statements, cash flow reports, and balance sheets to outline your assets and liabilities. If you’re seeking funding, this section is critical and must be as current, accurate, and detailed as possible.

Follow-Up • In the next 24 hours you will receive an email: § The url to a recording of this webinar § A. pdf copy of this presentation § List any documents the presenter is promising to send – booklets, articles, referral sources.

Next steps • Continue your search for knowledge through other SCORE’s workshops/webinars and mentoring/counseling services: www. broward. score. org

Want to talk to someone? • Schedule a mentoring/counseling session with a SCORE volunteer – Usually a 45 -60 -minute session – You tell the volunteer what you want to talk about • • Ideas you want to bounce off someone with business experience Opportunities you have Challenges you have Specific questions on sales, marketing, finance, HR, business planning. Funding, and other business sectors – Volunteer gives you his/her feedback, suggestions, observations – Our mentoring volunteers have a 90% client satisfaction rating

Make an appointment for a counseling session! There is never a charge.

How I can help • I am a business education volunteer • My volunteer time is committed to these educational workshops/webinars • If you have a quick question or would like to talk to me my contact info is: – Joshua Orlinsky – Equiturn Business Solutions, Inc. – www. equiturnsolutions. com/capital – Phone 954 -296 -6056 – Email: jorlinsky@equiturnsolutions. com