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Tomahawk Main Street & UW-Extension, Lincoln County After Hours Seminar . How to Develop an Effective Business Plan Art Lersch University of Wisconsin – Extension, Lincoln County February 24, 2010 Tomahawk, WI. Learning Objectives. Business plan outline
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How to Develop an Effective Business Plan
University of Wisconsin – Extension, Lincoln County
February 24, 2010
Table of Contents
Section I. Executive Summary
Section II. Business Description/Goals & Objectives
Section III. Background Information
Section IV. Organizational Matters
Section V. Market Description/Assessment
Section VI. Marketing Plan
Section VII.The Financial Plan
“Introduce your unique business to the world!”
Make it as lofty as possible!
Tell your table mates in less than a minute why they should come to your business rather than the competitor down the street or in the next town over.
“University of Wisconsin – Extension Lincoln County provides knowledge and resources to offer people opportunities for positive change where they live and work.”
“An EEO/AA employer, University of Wisconsin Extension provides equal opportunities in employment and programming, including Title IX and American with Disabilities (ADA) requirements. Please make requests for reasonable accommodations to ensure equal access to educational programs as early as possible preceding the scheduled program, service or activity.”
Focus the story on the local situation, but also add current and projected regional and/or national trends!
What are the current trends, both favorable and unfavorable, in the industry under which your business is classified?
How do you know that the demand is really there?
Determine what market you want to serve, and then provide something it wants!
What does the market you are already serving want the most?
It looks great, but is anyone really there?
Source: Tomahawk Comprehensive Plan, 2006
Source: Tomahawk Comprehensive Plan, 2006; Business District Market Overview, UW Extension, 1999
Map courtesy of Bill Ryan, UW-Extension Center for Community & Economic Development
Take a few minutes to describe to your table partners in as great detail as possible your business target market.