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Business Plan Preparation Introduction. Frank Moyes Leeds School of Business University of Colorado Boulder, Colorado. Tonight’s Agenda. Introductions Course organization & syllabus Writing a business plan Discuss your ideas. Frank Moyes frank.moyes@colorado.edu

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business plan preparation introduction

Business Plan PreparationIntroduction

Frank MoyesLeeds School of BusinessUniversity of ColoradoBoulder, Colorado

Business Plan Preparation: Introduction

tonight s agenda
Tonight’s Agenda
  • Introductions
  • Course organization & syllabus
  • Writing a business plan
  • Discuss your ideas

Business Plan Preparation: Introduction

communications
Frank Moyes

frank.moyes@colorado.edu

Office Hours: Fleming 115(165)

Wednesday 3:00 to 5:30pm

Thursday 4:00 to 6:00pm

And by appointment

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

0

Communications

Business Plan Preparation: Introduction

materials

0

Materials
  • Lawrence and Moyes, “Writing a Successful Business Plan”, 2006
  • Moyes and Lawrence, “Financial Spreadsheets for the Business Plan”

Business Plan Preparation: Introduction

objectives of the course
Objectives of the Course
  • Understand what is a business plan & when to write one
  • Write a plan for viable business
  • Experience the process

Business Plan Preparation: Introduction

course structure
Course Structure
  • Weeks 1 & 2: Evaluate opportunities
  • Week 3: Select concept & team
  • Weeks 4 & 5: Market & Industry Analysis
  • Week 6 to 13: Lecture on a Plan section
  • Weeks 9 to 14: Hand-in and present sections of the business plan for feedback
  • Week 15: Present business plan & hand in

Business Plan Preparation: Introduction

class structure
Class Structure
  • Instructor to describe a section of the business plan
    • Slides posted on eCollege after lecture
  • In the Fire sessions – weeks 5 to 14
  • Begin Week 4

Business Plan Preparation: Introduction

grading
Grading
  • Individual
    • Resume
    • Concept
    • Participation
    • Peer evaluation
  • Team Assignments
    • In the Fire sessions
    • Written assignments
    • Final Business Plan & Presentation

Business Plan Preparation: Introduction

business plan elements
Business Plan Elements
  • Executive Summary
  • Company Overview
  • Product/Service Description
  • Market & Industry Analysis
  • Marketing Plan
  • Operations Plan
  • Development Plan
  • Management
  • Competitive Advantage
  • Financial Plan
  • Funding

Business Plan Preparation: Introduction

why write a business plan
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 to 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

Business Plan Preparation: Introduction

a good business plan
A Good Business Plan
  • Living document
  • Creates excitement
  • Tells a story
  • Compelling description of the vision & strategy
  • Not a substitute for action

"You can't overestimate the need to plan and prepare. In most of the mistakes I've made, there has been this common theme of inadequate planning beforehand. You really can't over-prepare in business!“ Chris Corrigan

Business Plan Preparation: Introduction

why not write a business plan
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

Business Plan Preparation: Introduction

slide14

“Writing a business plan

is a life changing event.”

Business Plan Preparation: Introduction

slide15

Discuss Ideas

Business Plan Preparation: Introduction

from student to entrepreneur approach to generate ideas
“From Student to Entrepreneur” Approach to Generate Ideas
  • Doing what you love
  • What bugs you
  • Use your experience
  • Recycle business concept
  • Steps, pain points & solutions
  • Developed by Neal Lurie, MBA 2004

Business Plan Preparation: Introduction

concept team selection process
Concept & Team Selection Process
  • Conduct Idea Exercise (download from website) (http://leeds-faculty.colorado.edu/moyes/html/resourses/Idea%20Exercise.pdf)
  • Email resume to instructor before Sept 6 as Word attachment (must have your name & Resume on file name)
  • Discuss your concept in class Sept 6 (use Concept Summary as a framework for explaining your concept)

Business Plan Preparation: Introduction

concept team selection process continued
Concept & Team Selection Process (continued)
  • Email Concept Summary as a Word attachment to instructor by 1:00pm on Sept 8 (Friday) (must have your name & Concept name in file name)
  • Instructor to email all students which concepts with the greatest potential thathave been selected on Sept 11 (Monday)
  • Students whose idea are selected will form a teams of 4 on Sept 13 in class

Business Plan Preparation: Introduction

concept description
Concept Description
  • Brief description
  • Why is there an opportunity/need?
  • What is the product/service? How will it be produced or delivered?
  • Who is the target market?
  • What are the unique benefits?
  • Who is the competition? What advantages do you have over the competition?
  • Profitability
    • Revenue model
    • Contribution margins

Business Plan Preparation: Introduction

assignments for next week
Assignments for Next Week
  • Resume: email to instructor
  • Review ESBM 3700 materials on Opportunity Recognition
  • Identify an opportunity to discuss in class

Business Plan Preparation: Introduction