1 / 8

ENTREPRENEURSHIP II

ENTREPRENEURSHIP II. Babs Bailey Carryer spring 2002 Business plan overview First steps for the new venture. Who needs a business plan?. Majority of Inc 500 companies had business plans This is not your father’s family business

elton
Download Presentation

ENTREPRENEURSHIP II

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. ENTREPRENEURSHIP II Babs Bailey Carryer spring 2002 Business plan overview First steps for the new venture

  2. Who needs a business plan? • Majority of Inc 500 companies had business plans • This is not your father’s family business • Forces you to express the essence of the value proposition, the deal, the opportunity…

  3. Business plans • Difference between business plan and vosg: • More detail • Blueprint for action and implementation • Vosg is go-nogo predecessor of business plan

  4. What they should cover • Creating or adding value to customer or end user • Solving significant market problem • Robust market and money-making characteristics • Good fit with founders and management team

  5. Challenges • Obsolete as soon as they are written • Selling documents • Flexible and adaptable to changing market conditions • Balance need for positive spin with legal considerations and regulations • Numbers don’t matter, but economics do

  6. Logisitics • Hire an outside professional • Dos and don’ts • Segment the sections: • Industry, competition, marketing strategy, finances, management, deal • Heart and soul of business and plan is: • analysis of market opportunity • competitive analysis • strategies that result, • so start here

  7. Audience • Funders: some rules with VCs • Get to no quickly • Be vague about what other vcs you are talking to • Don’t ever meet with an associate or junior member twice without a partner • Never say no to an offer price • Don’t stop sellling till the money is in the bank • Never lie

  8. Business plan outline • Executive summary • Description of business • Industry and market • Competition • Strategy • R&D, technical development • Management • Finances and the deal

More Related