Business plan

• Business plan

  • guides through each stage if starting and managing your business
  • use as a roadmap
• 7 types of business plan

  • start up plan
  • strategic plan
  • feasibility plan
  • operations plan
  • expansion plan
  • what-if plan
  • one page plan
• pick a business plan format that works for you:

  • no right or wrong way to write a business plan
  • important is that your plan meets needs
  • traditional business plan and lean start up plan
• traditional business plan:

  • more common
  • go into detail
  • "let the paper talk"
• Lean startup plan

  • usually one page
  • contains main points
• start up plan

  • gives potential investors hopes of funding
  • initial plans that businesses can adjust as the company grows
• strategic plan

  • internal purposes only
  • to know what to achieve in a certain timeline
• soft analysis - do it before
• feasibility plan

  • seeking a new business venture such as producing a new product
  • used only if there's an existing market / current product
• operations plan

  • also called annual plan (yearly)
  • focuses on mapping out day to day operational activity
• expansion plan

  • expanding
  • when there is a high demand, you expand
• what if plan

  • plan b
  • needed for worst case scenario
• one page plan

  • explains company's product
• traditional plan parts:

  • executive summary
  • company description
  • market analysis
  • organization and management
  • service or product line
  • marketing and sales
  • funding request
  • financial projection
  • appendix
• executive summary

  • face of business
  • important details
  • summary of important points
  • include: mission statement, product or service, basic info, employees, location
• company description

  • who you want to target
  • competition
• market analysis

  • understanding of target market
  • advances
• organization and management

  • who will run it
  • use charts
• service or product line

  • man power
  • consumables
• marketing and sales

  • advertising
• funding request

  • outline funding requirements
  • clearly explain funding for 5 years
• financial projection

  • supplement your request
  • convince reader that your business is stable
• appendix

  • supporting documents or others
• lean start up format

  • key partnerships
  • key activities
  • key resources
  • value proposition
  • custom relationships
  • customer segment
  • channel
  • cost structure
  • revenue streams
• key partnerships

  • note other businesses or service you'll work with
• key activities

  • was to gain competitive advantage
• key resources

  • resource you'll leverage to create value for your customer
• value preposition

  • clear statement about the unique
  • why to pick
• custom relationships

  • describe how customers will interact
• customer segment

  • target customers
• channel

  • ways to promote
• cost structure

  • define strategy
• revenue stream

  • how to gain profit