Scribd Logo
Upload

Welcome to Scribd!

  • 124 views

    Entrepreneurship: Writing An Effective Business Plan: Crafting A Roadmap To Success

    Uploaded by

    Arpit Anil Vora
    This document provides an overview of key components to include when writing an effective business plan, including an executive summary, market analysis, management team, financial plans, risks, and scheduling. It emphasizes that a business plan should be a formal, persuasive document that convinces readers of the viability of a new venture and converts their ideas into a profitable business. It also warns of "seven deadly sins" to avoid, such as a plan being poorly prepared or not clearly explaining why customers would want the product or service.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd

    Entrepreneurship: Writing An Effective Business Plan: Crafting A Roadmap To Success

    Uploaded by

    Arpit Anil Vora
    124 views24 pages
    This document provides an overview of key components to include when writing an effective business plan, including an executive summary, market analysis, management team, financial plans, risks, and scheduling. It emphasizes that a business plan should be a formal, persuasive document that convinces readers of the viability of a new venture and converts their ideas into a profitable business. It also warns of "seven deadly sins" to avoid, such as a plan being poorly prepared or not clearly explaining why customers would want the product or service.

    Original Title

    Business Plan

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PPT, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document provides an overview of key components to include when writing an effective business plan, including an executive summary, market analysis, management team, financial plans, risks, and scheduling. It emphasizes that a business plan should be a formal, persuasive document that convinces readers of the viability of a new venture and converts their ideas into a profitable business. It also warns of "seven deadly sins" to avoid, such as a plan being poorly prepared or not clearly explaining why customers would want the product or service.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    124 views24 pages

    Entrepreneurship: Writing An Effective Business Plan: Crafting A Roadmap To Success

    Uploaded by

    Arpit Anil Vora
    This document provides an overview of key components to include when writing an effective business plan, including an executive summary, market analysis, management team, financial plans, risks, and scheduling. It emphasizes that a business plan should be a formal, persuasive document that convinces readers of the viability of a new venture and converts their ideas into a profitable business. It also warns of "seven deadly sins" to avoid, such as a plan being poorly prepared or not clearly explaining why customers would want the product or service.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 24

    Entrepreneurship

    Writing an Effective Business


    Plan: Crafting a Roadmap
    to Success
    Small Business vs. High-Growth Ventures
    Small Business High-Growth
    Venture
    Preferred Funding Owner’s Own Other People’s
    Source Money Money
    When Firm’s In Cut Costs Sell More
    Trouble
    What’s More Sales Marketing
    Important
    Personal Control Retain Involve Key
    Preference Autonomy Others
    Focus Efficiency Effectiveness
    Metastrategy Imitation Novelty7-2
    Boundary Resources
    Creating a place for your business – The money, product knowledge, etc,
    in location and in people’s minds that make up the business

    Your Small Business

    Exchange
    Intention Moving resources/products/
    The desire to start a business services in exchange for money

    The BRIE Model


    7-3
    “There is real magic in enthusiasm. It
    spells the difference between
    mediocrity and accomplishment.”
    --Norman Vincent Peale, 1961

    7-4
    Business Plan
    • A formal, written expression of the
    entrepreneur’s vision for converting
    ideas into a profitable, going business
    • It is a document describing all relevant
    internal and external elements and
    strategies for starting a new venture.
    • The entry card for serious
    consideration by venture capitalists,
    banks, and other sources of funding

    7-5
    A Living Document
    • A business plan changes often as a
    new business develops.
    • Do just enough business planning to
    get the new company started.
    • Refine the plan with information
    gathered from running the new
    venture.

    7-6
    Model of Successful
    Business Planning

    Prepare a Continue to
    Start the Refine the
    relatively grow the
    business business plan
    simple plan business

    7-7
    Business Plan Components
    • What is the basic idea?
    • Why is the new product appealing—
    and to whom?
    • How will the idea be realized?
    • Who are the entrepreneurs?
    • How much funding is needed? What
    type of funding? How will it be used?
    How will you realize a return?

    7-8
    Who reads it???

    7-9
    A Successful Plan
    • A serious document prepared by
    serious people
    • Orderly
    • Succinct
    • Persuasive

    7-10
    Executive Summary
    • Your elevator pitch
    • Provides a brief, clear, and
    persuasive overview of the
    new venture
    • Target 2 to 3 pages

    7-11
    Business Plan Sections
    • Background and • Financial
    purpose information
    • Marketing • Risk factors
    • Competition • Harvest or exit
    • Development, • Scheduling and
    production, and milestones
    location • Appendices
    • Management

    7-12
    Background, Product, and
    Purpose
    • What is the nature of the idea
    driving your company and how did it
    arise?
    • What does the product have to
    offer?
    • What is the basic nature of the
    company?
    • What is the company’s mission?

    7-13
    Market Analysis
    • What have you done to identify the
    market?
    • How large is the market?
    • How will products or services be
    promoted?
    • What do you know about competing
    products and companies?
    • How will the product or service be
    priced?
    7-14
    Market information

    7-15
    Development, Production, and
    Location
    • Location
    • Manufacturing operations
    • Raw materials
    • Equipments
    • Labour skills
    • Overhead

    7-16
    Management Team
    • Do team members have the
    experience, expertise, skills, and
    personal characteristics needed?
    • Do team members having good
    working relationships?

    7-17
    Financial Plans and
    Projections
    • Proforma balance
    sheet
    • Proforma income
    statement
    • Cash flow statement
    • Break-even analysis

    7-18
    Critical Risks
    • Price cutting by competitors
    • Unforeseen industry trends
    • Sales projections not achieved
    • Costs exceed estimates
    • Schedules not met
    • Difficulties raising financing
    • Unforeseen trends

    7-19
    Harvest and Exit
    • Management
    succession
    • Exit strategies

    7-20
    Scheduling and Milestones
    • Formal • Product displays
    incorporation • Agreements
    • Completion of • Moving into
    design production
    • Completion of • Receipt of orders
    prototypes • First sales
    • Hiring of initial • Profitability
    personnel

    7-21
    The Intangibles
    • The extra “something”
    • Pay attention to organization, clarity,
    word choice, and style
    • Have good writers read your plan
    • Revise according to their suggestions

    7-22
    Seven Deadly Sins
    • Plan is poorly prepared
    • Plan looks too slick
    • Executive summary is too long
    • Development stage of product is unclear
    • Fails to answer “Why would anyone ever
    want to buy one?”
    • Doesn’t state management qualifications
    • Financial projections are wishful thinking

    7-23
    The Presentation
    • Remember: This is important!
    • Prepare, prepare, prepare
    • Choose content carefully
    • Persuade, don’t overwhelm
    • Show enthusiasm tempered with reality
    • Rehearse
    • Don’t overlook the basics
    • Respond positively to questions

    7-24

    You might also like