Download - Communicating your business idea
![Page 1: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/1.jpg)
Presented by David Vane
www.sbgn.co.uk
![Page 2: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/2.jpg)
Purpose of the Business planThe aim is to produce a business plan that will help you to develop a profitable, sustainable business.
It gives you a clear way to explain to funders (bank, VC, Bridging the Gap etc) why they should invest in your business.
It provides a method of reviewing your business.
Its not just a device to persuade your funders!
![Page 3: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/3.jpg)
If you don’t get it right!
![Page 4: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/4.jpg)
Before you start…Do your research –
Is it a good idea?Has someone already done it?Do people want it?Is someone else doing itHow will people know about it?Will it make money?
![Page 5: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/5.jpg)
1. Management Summary
Do it last!So we will come back to it….
![Page 6: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/6.jpg)
2. BackgroundWhat is the point?
– credibility for everything, do you have enough knowledge, skills, experience? Eg Gardening business – do you have any experience of this?
What should you include – -relevant experience, qualifications, evidence, motivation
How should you present it? -First person (photo) “people buy people” to sell yourself
![Page 7: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/7.jpg)
3. Products or service What is the point?
- Clear, defined idea about product or service
What should you include? - Simple explanation , features and benefits, all aspects of delivering (travel, postage, returns, breakages…)
How do you present it? - Concise bullet points, visuals if available
![Page 8: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/8.jpg)
4. Target Market - customersWhat is the point?
- Give a clear idea of who will buy your product or service?
What Should you include? - Ideal Customer – where, who, what, when etc
How do you present it? - Concise, bullet points (table?)
![Page 9: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/9.jpg)
5. CompetitionDo you understand the market place in which
you will trade?
Direct and Indirect competition, what makes you different (USP)
Table? Name – description – their USP and how you are different?
![Page 10: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/10.jpg)
6. Marketing and PromotionHow will you find your customers? How to
communicate your feature and benefits
What methods, which media, how to assess results,
Consider for each product for service and for each target customer
![Page 11: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/11.jpg)
7. Pricing and CostingProduce a realistic and sustainable pricing
structure? Eg supermarket Lidl - Aldi ASDA – Waitrose – Which are you?
How did you decide on pricing? Cost? Cost +? Value? Time?
An explanation
![Page 12: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/12.jpg)
8. Sales ForecastTo show the growth, profitability and
sustainability of the business
Estimation of sales over one / two years (considering seasons, growth & business model (employing to increase sales, franchise)
Explanation…
![Page 13: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/13.jpg)
9. Start up CostsDemonstrate that you can afford to start the
business.
Everything and Your contribution?
Table (with explanations if necessary)
![Page 14: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/14.jpg)
10. Personal Survival BudgetShows how you will survive while the
business is developing.
All personal expenses – mortgage, food, other jobs, part time work, partner’s income
Table
![Page 15: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/15.jpg)
11. Admin and LegalDemonstrating that you understand the risks
in your business and what you are doing to mitigate them
Public Liability, Health & Safety…
Bullet points with explanations
![Page 16: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/16.jpg)
12. Cash FlowBe realistic!
See Lee Scott’s session …
![Page 17: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/17.jpg)
Management SummaryDo it last! (but it goes at the beginning)
To explain succinctly the rest of the business plan. If you don’t get this right it will affect the way that people view the rest of the business plan
A micro summary of the rest of the plan (3-4 lines from each section as a guide)
![Page 18: Communicating your business idea](https://reader030.vdocument.in/reader030/viewer/2022032421/55a848dc1a28ab93108b478b/html5/thumbnails/18.jpg)
And finally…
Take your time and have someone else check it!
Thank you!