Business Plan

1. Business Plan What goes into a business plan? What does it take to start a business? What kind of business would you want to start?

2. Over view of this unit: • We will talk about what goes into a business plan and talk about each part of it in depth. • We will look at real life companies and different aspects of their business. • You will get the chance to work alone or in a group to develop a business plan for a company you will create!

3. First things first… • What will your company do? • Sell a product? • Tom’s Shoes • Home Depot • Target • Wal-Mart • Apple • Offer a service? • Google • Massage therapists • Web Design • You must decide what it is that your business is actually going to sell. It could be one product. It could be multiple. It could be several services, or it could be a blend of products and services.

4. Let’s look at industries on the rise… • The Best Industries for Starting a Business Right Now • There are some interesting companies out there… • eNthem of San Francisco • I Do Now I Don't • Lucky Break Wishbone • Prairie Tumbleweed Farm • Sarah's Smash Shack • Sniff Dogs

5. Gotta have a name! • A company obviously must have a name… • Some cool company names I’ve come across: • StumbleUpon • Pinterest • Google • Hulu • Sew Sew Lovely • Yoforia • Any cool names you’ve heard of? • Business Name Examples • Tips on Creating a Name • This company actually comes up with business names for people

6. Motto or Slogan • Most companies have a motto or catch phrase • “Think Different” • Apple • “Have It Your Way” • Burger King • “Zoom Zoom” • Mazda • “Eat Fresh” • Subway • “Live in Your World, Play in Ours” • Sony Playstation • “I’m Lovin’ It” • McDonald’s • “You Can Do It. We Can Help.” • Home Depot • 5 tips for writing an effective slogan • 10 Best Slogans according to INC.com

7. Mission Statement & Vision • Every company has both! • Your mission is what you do best every day, and your vision is what the founder ultimately envisions the business to be. • Mission-daily focused. What’s your purpose? • Vision-future focused. How high do we want to reach? • Video: what's the difference?

8. Mission Statement • Mission Statement How To: 5 slides from Inc.com • MissionStatements.com-examples of mission statements from real companies. • Other examples: • Mastercard • PepsiCo

9. Vision Statement • A vision statement for a new or small firm spells out goals at a high level and should coincide with the founder’s goals for the business. Simply put, the vision should state what the creator(you) ultimately envisions the business to be, in terms of growth, values, employees, and contributions to society. • Then, develop strategies for moving your business toward that vision. • Video: Vision Statement How To • Examples: • Coca Cola

10. Ready to Write Your Vision Statement? • Step #1 Write a list of facts about your business.List your goals, strengths, benefits and so on. • Step #2 Now write a statement about what you want your business to become in the future. What does it look like? Is it global? What are you doing for your customers? • Step #3 Combine your statement and the items in your list that stand out, create your vision statement.  Remember, this is only an exercise, you may write and rewrite your vision statement ten times before you hit on one that resonates with you.  Remember, your vision statement is an essential part of your business plan. Imagine creating a business without it. Many do and they’re short lived. Imagine trying to make a decision about hiring, about your business model, about marketing without knowing what it is exactly that you want your business to be and where you want it to go... You can’t.

11. Strategy • A business strategy encompasses many things. We will consider questions like: • Is your company local or global? • Small or big? Small staff, big staff? • Who is your target market? • How will your business meet customer needs and expectations? • What is your competitive advantage? Intro Strategy!