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A Brief Introduction to Business Plans
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Introduction
• Can be for new start up, business expansion, for external or internal use
• Looks at all aspects of a business– Goals, vision, objectives– Marketing and Sales– Production and cost structure– Financing particularly cash flow– Organizational structure
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Goals, Vision, Objectives
• Vision Statement– What is the desired future state
• Mission Statement– Why are we here, why do we exist
• Values– What type of corporate culture
• Leadership– Who are the key people– Can be more important than financial analysis
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Marketing Analysis
• Look at the 4 P’s
• What product are we offering, how is it better different
• What is the short term and long term volume estimates
• What type of pricing is available
• Who are we selling to, region, demographic etc.
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Present Assessment
• SWOT analysis
• Strategic Plans
• Short term financials
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Product/Service
• Define the product or service• Types/costs of investments to deliver
product or service• Operational costs• Consider required return on investments• Cost structure of product v. volume• Reality check costs with pricing model• Key milestones for implementation
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Financial analysis
• Pro forma balance sheets, income statements, and cash flow analyses
• Critical ratios, current, quick
• Cost of capital
• Sources of capital
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Management
• Organizational structure
• Key personnel
• Organizational chart
• People and talent required
• Compensation structure
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Executive Summary
• How to sell the idea in 250 words or less
• Review objectives
• Summarize Marketing and Sales
• Summarize cost structure
• Brief review of financial high points
• Emphasize entrepreneurship