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SESSION-2 Business Plan Development

SESSION-2 Business Plan Development. Objectives: To define what the business plan is , and who prepares it To understand the scope and value of the business plan to investors, lenders, employees, suppliers, and customers

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SESSION-2 Business Plan Development

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  1. SESSION-2Business Plan Development Objectives: • To define what the business plan is, and who prepares it • To understand the scope and value of the business plan to investors, lenders, employees, suppliers, and customers • To identify information needs and sources for each critical section of the business plan • To present examples and a step-by-step explanation of the business plan • To present helpful questions for the entrepreneur at each stage of the planning process

  2. What is Business Plan? • BP is ….. • a written document prepared by the entrepreneur that describes all the relevant external and internal elements involved in starting a new venture • Useful for new venture or for the expansion of the existing business

  3. A Good Business Plan is... • complete • short • integrated • prepared for the audience • organized

  4. Who should write the plan? • Entrepreneur, with: • Lawyer • Accountant • Financial consultant • Marketing consultant • Engineer, etc. • or: Professional consultant • Source of information: • Gov. Agency • University • Association • Internet • etc.

  5. How is BP evaluated? • Suppliers: • to supply components or finished goods, the number of materials, etc. • Customers: • products, quality, quantity, after sales service, etc. • Lenders/Bank: • the ability to pay back the debt, potential risk, etc. or 4 Cs of credit (character, cash flow, collateral, equity contribution) • Investors: • pay back period, ability to generate income (return), etc.

  6. Information needs: • Production and operation information needs: • location, manufacturing operations, raw material, equipment, labor skills, space, overhead • Marketing information: • market potential, STPD (Segmentation, Targeting, Positioning, Differentiation) • Financial information needs: • Sales forecasting, capital expenditures, direct operating expenses, etc.

  7. Outline of BP: • Introductory Page • Executive Summary • Environmental and Industry Analysis • Description of Venture • Production Plan • Operational Plan • Marketing Plan • Organizational Plan • Assessment of Risk • Financial Plan • Appendix

  8. I. Introductory Page Name and Address Name of the entrepreneur(s), telp number, e-mail address, student ID Nature of Business Statement of Financing Needed Statement of Confidentially Report

  9. IV. Description of Venture • Product(s) and or Service(s) • Size of Business • Office Equipment and Personnel • Background of Entrepreneurs

  10. Let’s do it! • Finalize the business idea, etc. • Finalize the organization structure • Compose Chapter Iand IV

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