how to write a business plan
DESCRIPTION
This presentation walks you through the fine points in making a business plan that will get you really want.TRANSCRIPT
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How to write a Business Plan?@
International Entrepreneurship Challenge (Dec 2007)
Pradeep ChopraCo-founder, OMLogic Pvt. Ltd.
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99 out of 100 businesses don’t stick to their original plans
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“Plans are , Planning is
”- Dwight Eisenhower
UselessPriceless
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What is a Business Plan?
A business plan is a written description of your
business’s future. It’s a document that
describes what you plan to do and how you
plan to do it.
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Why Business Plan?
• Operating and Financial Plan• Your map and compass for the future• Sell yourself on your business• Sales Pitch
– Investors– Partners– Customers– Employees– Competitions (Brand Building)
• MAKE MORE MONEY
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Plan Your Plan
• Purpose• Business Objectives• Financial Goals• Resource estimation and allocation
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Elements of a Business Plan
• Executive Summary• Company Summary• Market Opportunity• The Product/Service• Marketing Strategy• Competitive Analysis• Operations• Financial Components
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Executive Summary
• Most Important Part• 1 Min Test• 1 Page Long• Concise Explanation
how
Present =====> Future
• Written LAST
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Company Summary
• Company Ownership• Company History• Management Team (Most Important)
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Market Opportunity
• The Problem• Customer Needs
– Definable– Meaningful– Sizable– Reachable
• Your Solution
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The Product/Service
• Your Product/Service• Value for Customers• Competitive Advantages
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Marketing Strategy
• Product• Pricing• Promotion• Place
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Competitive Analysis
• Strengths• Weaknesses• Opportunities• Threats
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Operations
• Implementation/Development Strategy• Logistics• R & D
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Financial Components
• Cash Flow Statement• Income Statement• Balance Sheet
3 years with 1st year in detail
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Most Common Mistakes
• Unrealistic• No clear plan for progress• Failing to describe the product in layman’s terms• Lack of market research• Lack of competitor research• Incomplete financials• Lack of valuation and exit strategy
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Start Planning…
