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ONE IDEA CHANGES EVERYTHING! BUSINESS FEASIBILITY/BUSINESS PLAN OVERVIEW NOVEMBER 15, 2013. Consider what the judges are looking for Pueblo location Growth potential Primary job creation Relative low risk Feasibility Well thought out and well written business plan.

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one idea changes everything business feasibility business plan overview november 15 2013
ONE IDEA CHANGES EVERYTHING!

BUSINESS FEASIBILITY/BUSINESS PLAN OVERVIEW

NOVEMBER 15, 2013

how can i improve my chances of being selected as a finalist

Consider what the judges are looking for

    • Pueblo location
    • Growth potential
    • Primary job creation
    • Relative low risk
    • Feasibility
    • Well thought out and well written business plan
How can I improve my chances of being selected as a finalist?
pueblo location

Prize eligibility

    • Does the business have to be started in Pueblo County?
      • YES!
    • Do I have to be a Pueblo County Resident?
      • NO!
    • Do I have to start the business to be eligible for prizes and venture capital?
      • YES
Pueblo location
growth potential

Why is growth potential important?

    • This demonstrates long term demand for your product or service
    • Investors want to know if they can expect a return
  • How do investors get a return?
    • You will need to negotiate with venture capitalists what they receive for their investment
  • Will I have to give up some equity in my business?
    • Probably, to receive venture capital – this is negotiated with the venture capitalist investors.
Growth potential
primary job creation

What is a primary job?

    • A primary job is one that brings money from outside of Pueblo.
      • PEDCO defines people with primary jobs as those who work for a company that derives most of its revenue from outside the community, thus bringing additional funds to the city.
    • Job creation is important for Economic Development
      • Economic development is an important objective of the Pueblo Entrepreneurship Competition
Primary Job creation
relatively low risk

What is risk?

    • Risk is the likelihood that you might lose your investment
  • How is risk lowered?
    • Lower risk by increasing chances of success
      • Provide verification of demand
      • Demonstrate that cost estimates are reasonable
      • Demonstrate experience in the field
      • Demonstrate ability to run the business
RELATIVELY LOW RISK
feasibility

What is feasibility?

    • Feasibility means that the idea will work, long term, and be profitable.
  • How do I demonstrate feasibility?
    • Show that demand is adequate and sustainable
      • Adequate means in large enough quantity
      • Sustainable means that it will last indefinately
    • Show that you are able to meet demand
      • Identify resources needed, and that you can assemble them appropriately
        • Resources include money, people, buildings/location, equipment, methods, suppliers, information, materials, and supplies
Feasibility
business plan business description and marketing plan competitor evaluation

Business information

    • Description of business
    • Mission statement
    • Product and/or service information
  • Marketing plan
    • Overall objectives
    • Customer needs, market size
    • Distribution
    • Pricing strategy
    • Sales/promotion strategy
    • Sales projections, 3 scenarios
  • Competitor evaluation
    • Key competitors, relative strengths and weaknesses
Business plan – business description and marketing plan, Competitor Evaluation
business plan operations

Location

Layout

Equipment

Materials and supplies

Inventory and accounting methods

Tasks, skills, jobs, wages

Licenses, certifications needed

R&D

Intellectual property

Personnel, HR issues

Board of Directors

Organization Chart

Business plan - operations
business plan financial

Sources & uses of funds

  • Capital equipment list
  • Break even analysis for a steady-state month
  • Pro-forma statements
    • (3 scenarios) X (3 year min)
    • Income statements
    • Balance Sheets
    • Cash flow statements
Business Plan Financial