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Business Plan Preparation Introduction Frank Moyes Leeds School of Business University of Colorado Boulder, Colorado Tonight’s Agenda BIC & TTO concept presentations Discuss Concepts Introductions Course organization & syllabus Writing a business plan Frank Moyes [email protected]

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Business Plan PreparationIntroduction

Frank MoyesLeeds School of BusinessUniversity of ColoradoBoulder, Colorado


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Tonight’s Agenda

  • BIC & TTO concept presentations

  • Discuss Concepts

  • Introductions

  • Course organization & syllabus

  • Writing a business plan


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Frank Moyes

[email protected]

Office Hours: Koelbel 440

Tuesday 10:00 to 12:00 noon

Wednesday 3:00 to 5:30pm

And by appointment

George Deriso: [email protected]

Websitehttp://leeds-faculty.colorado.edu/Moyes

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Communications


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Materials

  • Lawrence and Moyes, Writing a Successful Business Plan, 2008 (download from Resource section of Instructor’s website)

  • Moyes and Lawrence, Financial Projections Model (download from Resource section of Instructor’s website)


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Objectives of the Course

  • Understand what is a business plan & when to write one

  • Learn to write a viable business plan

  • Experience the process

“Everything is vague to a degree you do not realize till you have tried to make it precise.”

Bertrand Russell


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Course Structure

  • Weeks 1: Is This a Real Business?, F2F-R

  • Week 2: Select concept & teams

  • Weeks 3 & 6: Is This a Real Business?

  • Week 5 to 12: Introduce sections of the B Plan

  • Weeks 4 to 12: In the Fire sessions

  • Week 14: Present business plan & hand in

  • Jan 2009: Competition


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Grading

  • Face to Face Research

  • In the Fire

  • Team Assignments

  • Peer Evaluations

  • Individual Participation


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Business Plan Sections

  • Executive Summary

  • Company Overview

  • Product/Service Plan

  • Market & Industry Analysis

  • Marketing Plan

  • Operations Plan

  • Development Plan

  • Management

  • Competitive Advantage

  • Financial Plan

  • Funding


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Why Write a Business Plan?

  • Road Map

    • Establish goals to make sure that are on track and heading in the right direction

  • Action Plan

    • Small steps lead to large results

  • Sales Tool

    • Attract investors, vendors, customers, partners, employees

“If we don’t have a plan for ourselves, we will be part of someone else’s.” Joan Lunden


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A Good Business Plan

  • Explains how you are going to do it

  • Provides evidence that customers want to buy

  • Tells a story - creates excitement

  • Addresses the critical elements

  • Should be painful to write


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Critical Elements of a Business Plan(& You Must Address)

Strong market

Attractive industry

Compelling Need

Clear value proposition

Sustainable competitive advantage

Understanding of profitability & cash flow

Management


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Why Not Write a Business Plan?

  • Lack experience

  • Information

    • Time & cost to get causes too great a delay

    • Can’t get

  • Situation changes too quickly

  • Founder has great experience, successful track record & has a “gut feel” for the business


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“Writing a business plan

is a life changing event.”


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Is This a Real Business?

Objective: set the stage

Face to Face research

Secondary research

Present to entrepreneurs & investors Week 6 Oct 15



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Concept & Team Selection Process

  • ASAP email Business Concept Description as a Word attachment to Instructors

    • Must have your name & concept name in file name and on the attachment

  • One day later instructor to will approve concepts

  • Sept 17 (Wed) Complete formation of teams


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Concept Description

  • Brief description

  • Why is there an opportunity/need?

  • What is the product/service?

  • Who is the target market?

  • What are the benefits to the target market?

  • Who is the competition? Your competitive advantage.

  • Profitability.


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Assignments for Next Week

  • Review MBAX 6100

  • Download Writing a Successful Business Plan

  • Decide on a concept & select team, email Instructors for approval

  • Hand in F2F-R Step 1: Gut Check


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