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Presentation by Blanche M. Johnson, Ph.D. February 2004 That First Lasting Impression A Business Plan is often the first contact entrepreneurs have with a funding source. Funding sources, e.g., VCs, “angels”, bankers, all review Business Plans.
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Blanche M. Johnson, Ph.D.
• Due diligence performed by a funding source starts with the Business Plan.
• A powerful, first class Business Plan
leads to a meeting with a funding source.
#1 Who will be reading the Plan? Who is my audience?
• Financial Investors are your audience IF…
you have expertise to develop/market your product BUT need money for employees and equipment
• Business Partners are your audience IF…
you need technical expertise to develop your product or marketing/distribution to reach customers
#2 What do I want to accomplish with this Business Plan?
• Capture the interest of the audience with the unusual opportunity presented.
• Provide sufficient data to convince the audience your business is worthwhile.
• Show realistic economic returns justifying the requested funding/partnership.
#3 How can I write this Business Plan to accomplish these objectives?
Address these core elements:
• Present an overview of the niche markets your product serves, show how you will market your product, compare your product to competitive products, show revenue/profit/cash flow.
• Present the amount and types of funds needed and what is the financial return to the investor or partner for funds/partnering.
• Present a concise Summary of the key points from each Section of the Business Plan.
e.g., individuals, businesses, government, overseas? Where are customers located?
Purpose: To convey to your audience a stable company (or your plan to set up a stable company) run by experienced and committed managers.
• Provide a description of your company – how long established, where located, number of employees, revenue generated (if any).
• Present description of each of the key managers responsible for the business; provide information about their direct and relevant experience, education/training and ownership interest (if any).
• Summarize the operating plan that supports how the company is organized to meet product/service projections.
Purpose: to support information presented in the Business Plan
• Full Financial Statements
• Management Resumes
• Photos/drawings of product, brochures
• Competitive Analyses
• Industry Comparables for Investors’ Exit:
Show how others have made $$$$$ whose performance is similar to your business model
Goal: get a first meeting w/ funding source
• Description of plans for a business
Goal: put in writing your plans for the business
• Road map for employees and Board
Goal: restate plans for an ongoing business
• Hopkins Homewood Campus library
• TEDCO; www.myownbusiness.org, incubators