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Writing a Winning Business Plan

Writing a Winning Business Plan. A business plan is a strategy for creating, launching and managing a new venture. It answers the questions of What, Why, Who, When and Where. Most important, it answers the question of How.

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Writing a Winning Business Plan

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  1. Writing a WinningBusiness Plan

  2. A business plan is a strategy for creating, launching and managing a new venture. It answers the questions of What, Why, Who, When and Where. Most important, it answers the question of How.

  3. Success begins with a great opportunity. A viable opportunity exists when: • You have intimate knowledge of the industry (products, services, competitors, customers’ needs, missing pieces) • You meet an important need or want that currently is not being met in the market • You can execute a viable business in the industry (robust market, healthy margins, early cash flow, high profit potential, a strong team, customer ready to buy)

  4. Components of the Plan • Cover Page • Table of Contents • Executive Summary • Business Description • Industry Analysis • Management Plan • Marketing Plan • Financial Plan • Implementation Plan

  5. Cover Page • Name of new business • Name of founders • Contact information • Date of plan

  6. Table of Contents • Includes major sections and page numbers • Includes sub-sections and page numbers

  7. Executive Summary • 1 to 3 pages in length • Brief description of business and summary of competitive advantage • Brief overview of management plan • Brief overview of marketing plan • Brief overview of financial plan including sales and profit projections

  8. Business Description • Mission, vision and values • Products and/or services • Unique competitive advantage • Legal structure and ownership

  9. Industry Analysis • Definition and health of industry • Barriers to entry and exit • Power of buyers and suppliers • Complementary/substitute products • Analysis of major competitors • Current trends relevant to business • Impact of technology and innovation • Key factors for industry success

  10. Management Plan • Members of the management team • Structure of organization and roles • Acquisition/sourcing of materials • Production/assembly of products • Packaging and distribution • Customer service strategy

  11. Marketing Plan • Market segments/customer profiles • Target customers and/or companies • Channels for product distribution • Sales and marketing strategies • Pricing and market positioning

  12. Financial Plan Financing the venture Projected financial statements Cash flow analysis Break-even analysis

  13. Financial Planning Confirms there is viable economic model for the business Uncovers risks that will need to be managed Builds investor confidence (easier to finance and lower financing costs) Improves negotiation position of the entrepreneur

  14. Financial Summary Financing required – amount raised and future requirements Timing of financing (stages and milestones) Projection of financials over 3-5 year period (by month or quarter year 1) Past financial history if any ROI expectations

  15. Implementation Plan • Major objectives for the first year of operation • Specific action plans for achieving each objective

  16. Sample business plans can be viewed on the following websites:www. bplans.comwww.businessplans.org

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