Unit 2 Lesson 2 The Business Plan Contents (I):

• Business Plan Introduction


  The business plan introduction serves as the “birds-eye view” of your plan
• Business Concept


  A business concept should have the essence of the business in a short but powerful manner
• Business Model


  A business model is a formula on how the business plans to make money out of business
• Four Areas of Business Modelling


  • Raising revenue
  • The cost of the enterprise products and other costs of doing business
  • Major investments of the enterprise
  • Financing the investment
• Business Goals


  • The business goals show the long-term and future prospects of the enterprise
  • Composed of the vision, mission, objectives, key results area, and performance indicators
• Goals and Objectives

  • Goals tell you wherever you want to go; objectives tell you precisely the way to get there
  • Goals will increase your effectiveness; objectives back your goals, and cause you to be more economical
  • Goals are usually represented in words; objectives usually go together with numbers and specific dates
• Factors related to Business Goals

  • Specific Goal Setting
  • Self-Efficacy
  • Need for Achievement
  • Ambition
  • Willingness to Learn
  • Adaptability and Flexibility
  • Willingness to Take Risk
  • Interpersonal Skills
• Always think of a goal that is measurable. By establishing measurable goals, you'll be able to track your progress and acknowledge right away once your efforts are going off target
• Writing Goals and Objectives

  • Placing print and airing radio ads to gain awareness
  • Attract first-time customers by offering a discount on their first visit
  • Cultivate prospects by implementing a permission-based weekly email to 2,500 targeted contacts
  • Convert 10 percent of prospects to clients, using email reminders
• The executive summary summarizes the necessary details of the business plan for its readers
• The executive summary is timesaving for readers, for they are able to get the gist of the business plan
• Contents of the Executive Summary For startup Business

  • The business opportunity
  • Taking advantage of the opportunity
  • The target market
  • Business model
• Contents of the Executive Summary

  • Marketing and sales strategy
  • The competition
  • Financial analysis
  • Owners/Staff
  • Implementation plan
• In writing your executive summary, you already need to capture the audience's attention immediately so that they are motivated to read the remainder of the document
• You need to end your business plan’s executive summary with a strong and clinching closing sentence that will justify why your proposed business is a winning one
• Types of Stakeholders

  • Resource Mobilizers
  • Technology Providers and Applicator
  • Government and Top Management
  • Operations and Support Team
• Each of the proponents has something to contribute, and they can be divided based on their capabilities, skills, and interests
• Business goals should be

  • Measurable
  • Attainable
• A business plan introduction serves as the “birds-eye view” of your plan
• A business concept emphasizes the value of the product to be offered to the target customers who would most likely buy it
• A business model is a formula on how the business plans to make money out of business
• The business goals show the long-term prospects of the enterprise
• The executive summary provides the key points of a document for its readers, saving them time and getting them ready for the entire content
• On writing an Executive Summary

  
  

  Focus on providing a summary.

  Keep your language sturdy and positive.

  Keep it short.

  Polish your executive summary.

  Put yourself in your readers’ place.
• The business proponents contain information about the stakeholders of your business.