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October 28-30, 2011 Peter H. Hackbert Moore Chair in Entrepreneurship and Management

Sullivan Foundation Service and Social Entrepreneurship Fall Retreat One-Page Business Plan. October 28-30, 2011 Peter H. Hackbert Moore Chair in Entrepreneurship and Management Director, Entrepreneurship for the Public Good Program Berea College, Berea, KY 40404.

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October 28-30, 2011 Peter H. Hackbert Moore Chair in Entrepreneurship and Management

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  1. Sullivan Foundation Service and Social Entrepreneurship Fall Retreat One-Page Business Plan October 28-30, 2011 Peter H. Hackbert Moore Chair in Entrepreneurship and Management Director, Entrepreneurship for the Public Good Program Berea College, Berea, KY 40404

  2. Imagine Flying A 747 Without A Flight Plan!

  3. Imagine Building A House Without A Blueprint!

  4. What if I could show you a way… An innovative and simplified approach to “clarifying and developing strategic ventures plans / projects”

  5. Pass out the Handout

  6. Focus - The Ultimate Power Tool You get what you focus on. Whatever you focus on expands. Where focus goes, attention flows. The Power of Focus

  7. Why Plan It is a . . . P R O C E S S that provides . . . Justification Evidence Reasons that are . . . Clear Verifiable Convincing resulting in a . . . Visible Blueprint Operating Plan that. . . Increases the probability of success

  8. What do “our stakeholders” want to hear?

  9. The Focus Must Answer Three Simple Questions Where are we headed? What will it take to get there? How will we measure success or failure?

  10. One Page Business Plan What are we building? Why are we building it? What will we measure? How will we build it? What work will it require?

  11. The Enterprising Kitchen – Case Study 1 A Sample One Page Strategic Plan

  12. Vision Statement: TEK Within the next 5 years grow TEK into a $700K social enterprise which manufactures soaps while simultaneously providing employment training for 25 low-income / immigrant women in poverty utilizing a blend of business and social services techniques.

  13. Mission Statement: The Enterprising Kitchen TEK provides transitional employment in a safe, secure, supportive work environment. - The Enterprise Kitchen

  14. Objectives: TEK • Achieve 2012 natural soap sales of $700,000 • Gain $150,000 for growth plan in Q4. • Secure foundation grants $70,000 to build capacity • Expand assistance to 30 women in Q1 ‘12. • Increase glycerin soap sales 10% in Q1 ‘12. • Lower cost of goods 10% in 2012. • Recruit 2 B of Ds, 5 volunteers in 2012. “Objectives define what we will measure. Well written objectives can be graphed because they contain a numerical value.”

  15. Strategies: TEK • Strengthen relationships with national accounts of wholesalers… • Expand local retailer accounts in Chicago… • Build brand at Natural Products Expo • Develop corporate gifts for social responsible businesses, investors… • Expand “word-of-mouth marketing”

  16. Plans: TEK • Implement new price model…in Q1. • Create inventory tracking system…in Q2. • Re-design soap packaging in Q2. • Develop new packaging in Q3. • Invent new corporate gifts in Q4.

  17. 10 Steps To TEK Success • Accept accountability • Assess your situation • Envision your future (Vision) • Determine your purpose (Mission) • Set your measurable goals (Objectives) • Plan your direction (Strategies) • Prioritize your work (Action Plans) • Refine and polish your plan • Execute and measure results • Celebrate your success

  18. Pass out the New Years Handout

  19. Assessment

  20. Assessment If we were meeting here one year from today, looking back over that year, what has to have happened during that period for you to feel happy with the progress of your organization?

  21. The Vision Statement What are we building?

  22. Vision Statements • Short one or two paragraph statements • Communicates excitement and passion • Should be expansive and idealistic • Paints a graphic picture of your not-for-profit when it’s fully developed • Aren’t analytical, dull or boring • Describes your dream your way

  23. Vision Statements answer these types of questions: • What will this venture look like in 1, 3, 5 yrs? • What type of company is this? • What markets do we serve? • What is the geographic scope? • Who are target customers? • What are our products and/or services? • What sales goal are we striving for?

  24. Exercise: Turn to the person sitting next to you…. Answer • What will this venture look like in 1, 3, 5 yrs? • What is the geographic scope? • Who are target customers? • What are our products and/or services?

  25. The Vision Statement Template Within next _ months/years develop (unit name) into a (geographic scope)successfulmanagednon-profit organization providing (describe specific services or functions) for / to (describe target customers / recipients of your service )

  26. Create Your Vision Write your vision statement using your own style to describe your vision and choose words that are comfortable and meaningful to you.

  27. The Mission Statement Why does this venture exist?

  28. Mission Questions • From our member’s perspective, what is our chapter’s purpose? • What is the essence or focus of our chapter? • Why do our members attend and participate? • What passion drives us to build this organization? • What is our unique service proposition?

  29. Determine the single most important thing: “THE lowest-fare airline.”

  30. Sample Mission Statements: Powerful & Catalyzes Action Ashoka: Shape a citizen sector that is entrepreneurial, productive and globally integrated, and to develop the profession of social entrepreneurship around the world. Interface Carpets: Become the first truly sustainable industrial enterprise on Earth Newman's Own Organics: Good Tasting Products That Just Happen To Be Organic. The Elephant Sanctuary: "A Natural-Habitat Refuge Where Sick, Old and Needy Elephants Can Once Again Walk The Earth In Peace and Dignity."

  31. Create Your Mission Write your mission statement in the space above. Remember, the best mission statements are short and memorable. Eight words or less.

  32. Objectives What will we measure?

  33. Objectives are very powerful • Provide quantitative pulse of venture • Focus resources on specific results • Hold people & organizations accountable • Define success in measurable manner • Measure end results of work effort • Give people/organizations specific targets • Minimize subjectivity & emotionalism

  34. SMART Objectives • Specific outcome or result • Measureable – a graphable # or % • Attainable – realistic yet challenging • Relevant to the organization’s vision • Time framed within one year or less

  35. What do you want more of… over time? What do you want less of…over time? Objective must be graphable!

  36. Objective Writer 101a Verb + Noun + Date = Objective • Increase the number of hot meals delivered from 125 to 200 per day by 12/31/11. • All visitors will learn connections…by May ‘12 • Double majors from 4 to 8 by AY 2011-2012. • Strengthen recruitment by 15% in AY 11-12. • Improve rate of return of “evals” in ’12. • Increase participants to 200 by 2012.

  37. Types of Objectives

  38. Objectives Workspace What’s working or not working? What do we want more of or less of? What are the key success indicator/metrics?

  39. Strategies How will we build this venture?

  40. What are strategies? Broad statements, covering multiple years that: • Set the direction, philosophy, values • Establish guidelines for evaluating important decisions • Set limits on what a venture will do/not do • Provides a blueprint or roadmap for building and managing the unit

  41. Types of Strategies

  42. Fill-in-the-blank Strategies: • Become regionally known for _____. • Focus on _____, _____, and _____ recipients. • Develop a frugal mindset by _____ & ______. • Promote volunteer programs by____ & _____. • Create specialized training by______ & _____. • Attract & retain key employees by ___ &___. • Use strategic alliances to ____, ____, &____. • Use guerrilla marketing to test ___________. “Fill-in-the-blank strategy statements help you to quickly understand the concept of strategies, yet still requires extensive thinking and crafting to be well written.”

  43. A strategy is simply a plan for achieving an objective. Allow your objectives to inspire your strategies. Creating Strategies

  44. Formulate Your Top 9 Strategies 1. 2. 3. 4. 5. 6. 7. 8. 9.

  45. Plans What is the work to be done?

  46. Actions Plans are … • Definition of specific actions/work to be done • Capacity building or infrastructure projects • Related / aligned to strategies and objectives • Assign names & dates to assure accountability

  47. Sample Plan Statements… • Form Advisory Board in Q3, 11. • Create AC Unit AY 11-12 plans in Spr. ‘11. • Secure 75 Mountain Day students Feb 14, ‘12. • Submit manuscript drafts in Spr. ‘12. • Complete program lineup by May ‘12. • Continue contract work thru Aug. ‘12. • Develop welcome indicators tools in May ‘12.

  48. No Work = Same Results Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec

  49. Project D Project C Project B Project A Work bends the curve Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec

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