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Comprehensive Guide to Business Plan Development and Objectives

This session outlines the essential elements of a business plan and the objectives behind its creation. It explains the significance of a business plan for various stakeholders, including investors, lenders, and employees. Participants will learn how to identify critical information needs, sources, and how to structure their business plan effectively. Additionally, the session provides examples and step-by-step guidance, along with questions tailored for entrepreneurs at different planning stages. This knowledge is crucial for anyone embarking on a new venture or expanding an existing business.

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Comprehensive Guide to Business Plan Development and Objectives

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  1. SESSION-2Business Plan Development Objectives: • To define what the business plan is, and who prepares it • To understand the scope and value of the business plan to investors, lenders, employees, suppliers, and customers • To identify information needs and sources for each critical section of the business plan • To present examples and a step-by-step explanation of the business plan • To present helpful questions for the entrepreneur at each stage of the planning process

  2. What is Business Plan? • BP is ….. • a written document prepared by the entrepreneur that describes all the relevant external and internal elements involved in starting a new venture • Useful for new venture or for the expansion of the existing business

  3. A Good Business Plan is... • complete • short • integrated • prepared for the audience • organized

  4. Who should write the plan? • Entrepreneur, with: • Lawyer • Accountant • Financial consultant • Marketing consultant • Engineer, etc. • or: Professional consultant • Source of information: • Gov. Agency • University • Association • Internet • etc.

  5. How is BP evaluated? • Suppliers: • to supply components or finished goods, the number of materials, etc. • Customers: • products, quality, quantity, after sales service, etc. • Lenders/Bank: • the ability to pay back the debt, potential risk, etc. or 4 Cs of credit (character, cash flow, collateral, equity contribution) • Investors: • pay back period, ability to generate income (return), etc.

  6. Information needs: • Production and operation information needs: • location, manufacturing operations, raw material, equipment, labor skills, space, overhead • Marketing information: • market potential, STPD (Segmentation, Targeting, Positioning, Differentiation) • Financial information needs: • Sales forecasting, capital expenditures, direct operating expenses, etc.

  7. Outline of BP: • Introductory Page • Executive Summary • Environmental and Industry Analysis • Description of Venture • Production Plan • Operational Plan • Marketing Plan • Organizational Plan • Assessment of Risk • Financial Plan • Appendix

  8. I. Introductory Page Name and Address Name of the entrepreneur(s), telp number, e-mail address, student ID Nature of Business Statement of Financing Needed Statement of Confidentially Report

  9. IV. Description of Venture • Product(s) and or Service(s) • Size of Business • Office Equipment and Personnel • Background of Entrepreneurs

  10. Let’s do it! • Finalize the business idea, etc. • Finalize the organization structure • Compose Chapter Iand IV

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