1. Business Plan Writing

2. Business Plan Writing About Kevin Business Consultant Director of Entrepreneur Center at Ohio Northern University (ONU) Adjunct Lecturer at ONU on Principals of Entrepreneurship Adjunct Professor at Bristol University (online learning) 3. Business Plan Writing Now what? 4. Business Plan Writing Now what? 5. Business Plan Writing Now what? 6. Business Plan Writing Now what? 7. Business Plan Writing Now what? 8. Business Plan Writing Now what? You write a business plan. My idea is People will buy because Ill do it like this. My future plans are 9. Business Plan Writing Why Write a Business Plan? Its a diagnostics tool to test the feasibility of the business, not the idea. It helps others, who have not had the time you have had, to see your vision. It makes business startup manageable and effective. It establishes measurable benchmarks. It keeps you in the game. 10. Business Plan Writing Now what? 11. Business Plan Writing Now what? 12. Business Plan Writing Now what? 13. Business Plan Writing Now what? 14. Business Plan Writing Now what? 15. Business Plan Writing Now what? Step 1. Use what you know. If its Word, use it. If its Google Docs, use it. If its a notepad and pen, use it. Step 2. Use one of the free templates from SCORE, the SBDC, or the SBA. Heck, use all three! And answer the questions that each templates asks. DONT TRY TO CREATE A BIZ PLAN! If the question or subject doesnt make sense for you plan, ignore it. Step 3. Start with what makes sense. Every business needs to make money, so start with the financials. 16. Business Plan Writing Know thy expenses 17. Business Plan Writing Know thy expenses Fixed Expenses = What it costs to run this business Rent Utilities Subscriptions Salaries Loan payment..$500 Insurance payment$200 Total $700 18. Business Plan Writing Know thy expenses Variable Expenses = What it costs to make a sale Time to create Raw material Commissions Depreciation Gasoline $10 per trip 19. Business Plan Writing Know thy expenses If making 1 takes 1 hour Than the sale price is $7.95 + material cost. 20. Business Plan Writing Business Plan Financials Personal Financial Statement 21. Business Plan Writing Cash Flow Shows timing of money coming in and timing of money going out The timing is crucial to demonstrate ability to meet obligations Does not relate to profitability Negative cash flow may be normal for start-up 22. Business Plan Writing Profit and Loss Statement AKA the Income Statement Measures a companys sales and expenses during a specified period of time. Shows you the money. 23. Business Plan Writing Profit and Loss Statement P&L statement contains uniform categories. net sales cost of goods sold gross margin expenses and net profit. 24. Business Plan Writing Personal Financial Statement What do you own? Who do you owe? Can we get anything out of you if you default? 25. Business Plan Writing The Balance Sheet Liabilities + Owners EquityAssets 26. Table 11.2 Kendon Corporation Balance Sheet for the Year Ended December 31, 2015 27. Table 11.2 Kendon Corporation Balance Sheet for the Year Ended December 31, 2015 28. Business Plan Writing Business Plan Financials 29. Business Plan Writing Business Plan Financials Dont be afraid to ask for help 30. Business Plan Writing The Marketing Plan Who will buy? Identifiable Sizeable Obtainable 31. Business Plan Writing The Marketing Plan Market Research Sources: Secondary Primary Local Chamber of Commerce Colleges and Universities Libraries Federal and State government SBDC SCORE Market Research firms Other businesses Surveys Observations 32. Business Plan Writing The Marketing Plan 33. Business Plan Writing The Marketing Plan 34. Business Plan Writing The Marketing Plan 35. Business Plan Writing The Marketing Plan 36. Business Plan Writing What are the Regulations for this industry? (Remember, it is best to error on the side of caution.) Licensing- Federal, State, County and City? Zoning - Can you operate your business where you want? Insurance - Do you need special insurance? Taxes - Are their additional taxes on your product? Sin taxes? Environmental - Toxins, proper waste disposal for your product or by products? Community Standards - Will your business be accepted? The Operation Plan 37. Business Plan Writing The Operation Plan Ownership / Management Structure 38. Business Plan Writing The Operation Plan 39. Business Plan Writing The Operation Plan 40. Business Plan Writing The Operation Plan 41. Business Plan Writing The Operation Plan 42. Business Plan Writing The Operation Plan Risk Assessment / Disaster Recovery 43. Business Plan Writing Startup Funds 44. Business Plan Writing Resources Fill in the blanks business plan http://tinyurl.com/no4q7p5 Business plan templates (SCORE) http://tinyurl.com/pqv8tps Guide to writing business plans (SBA) http://tinyurl.com/9x83dkk Free sample business plans http://tinyurl.com/6dl25db