pulling the plan together create a finished business plan 15-1copyright © 2011 nelson education...

Pulling the Plan TogetherCreate A Finished Business PlanCreate A Finished Business Plan

15-1Copyright © 2011 Nelson Education Ltd.

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Prepared byRon KnowlesAlgonquin College

& Jennifer Rouse BarbeauCanadore College

Chapter OverviewChapter 15 will:

Guide you in the final assembly of your business plan building blocks.

Assist you in writing your plan for maximum clarity and impact.

Assist you in compiling and presenting the executive summary, table of contents, and appendices.

Help you present the completed plan.


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Learning OpportunitiesGather all the information you have together

into one coherent unit, which becomes a working showcase for your business.

Study a sample business plan to see how one group of entrepreneurs defined and presented their business.

Match or surpass the sample business plan in value-added information, research, and effectiveness.

Complete a PERT chart to organize the work ahead.

Put your finished business plan to work with passion.


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Getting Started

Before you begin writing your business plan:Before you begin writing your business plan:Think about the need of your target audience. Think about your elevator pitch. Get your mentor and advisory team on board.Consider how your plan will showcase your

passion and confidence. Gather all the competed Action Steps.Consider starting with the material you feel

most comfortable with.


Writing Your Business Plan:1: Use Words1: Use WordsUse words to introduceyour strategies for:

MarketingProductionManagement

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Hook your readers with clear & exciting descriptionsabout: Creating a businessAssessing the competitionDesigning a marketing planTargeting customersFinding the right locationBuilding a team

Copyright © 2011 Nelson Education Ltd.

Your target readers are: Bankers Credit managers Venture capitalists Vendors Small business and

commercial credit lenders

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Include financials such as:

Income statements Cash-flow projections Projected balance sheets Ratio analyses


Writing Your Business Plan:2: Use Numbers & Facts2: Use Numbers & Facts

Resumes Maps Diagrams

Photographs Tables Reprints from

industry journals

Letters from customers and

vendors Credit reports

Personal financial

statements


Writing Your Business Plan:3: 3: Include Support InformationInclude Support Information

Some General GuidelinesOutside AssistanceOutside Assistance

Write the plan yourselfHave the plan reviewed

RemindersRemindersA business plan does not guarantee successThe plan should be easy to readNo grammatical errorsMake the plan easy for your reader to write

notes Include how the reader can reach you


The Cover LetterSummarize your planin a way that will achieve the most good.

Introduce the excitement of your plan. Tell why you are sending the plan. Your letter needs to give a good impression.

Remember that:1. The reader will judge your plan based on this letter.2. A good cover letter will make its reader want to become

involved in your venture.


Sample Table of Contents (Box 15.3) Page(s) Table Of Contents i Executive Summary 1 I. Description Of The Business 1-12

The Service We Provide The Market And Our Target Customer The Competition Marketing Strategy Our Location Management Human Resources

3 4 6 8 10 11 12

II. Financial Section A. Projected Cash Flow B. Projected Income Statement C. Projected Balance Sheet D. Other Financial Information

16-21 16 18 19 21

Appendixes


Executive SummaryTheThe executive summaryexecutive summary Serves as an introduction to the business plan.

Acquaints the reader with the subject of the material that follows.

Provides “hard” numerical data and facts (which lenders prefer).

Normally appears right after the table of contents.

Is written afterafter the plan is completed.


Section I: Description of the BusinessDescription of the BusinessPart A: Business Description An example is provided in Box 15.5. To get started, complete Action Step 65.

Part B: The Market and the Target Customer An example is provided in Box 15.6. To get started, complete Action Step 66.

Part C: The Competition An example is provided in Box 15.7. To get started, complete Action Step 67.

Part D: Marketing Strategy An example is provided in Box 15.8. To get started, complete Action Step 68.


Part E: Location An example is provided in Box 15.9. To get started, complete Action Step 69.

Part F: Management An example is provided in Box 15.10. To get started, complete Action Step 70.

Part G: Human Resources An example is provided in Box 15.11. To get started, complete Action Step 71.


Section I: Description of the BusinessDescription of the Business

Section II: Financial Section Financial Section

Now you’re ready to organize yournumbers into 4 standard areas:

1. Opening and projected balance sheets2. Cash flow projection3. Projected income statement4. Supporting financial information and analysis


What is a PERT Chart?


Pert stands for:Program Evaluation & Review Technique.

A PERT Chart serves as a script. It will also tell you & your team members how long certain jobs should take.

Sample PERT Chart

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Week Task 1 2 3 4 5 6 Befriend a banker. x x x x x x Order letterhead. x Select site. x Get business name. x Register company. x Select ad agency. x Have lunch with lawyer. x Make appointment with accountant. x Prepare vendor statement. x Make utilities deposit. x Review promotional material. x Survey phone system. x x x Order phone system. x Hold open house. x


Chapter 15 shows you how to create a finished business plan:

Business Plan: a portable showcase for your small business


Business Plan Business Plan Building Block

How will your business idea contribute to society in general?

In what way does your product or service differ from that of your competitors?

What are the critical success factors for your business?

How would your customers define your quality and level of customer service?


Checklist for Your Business PlanYour Business Plan

In completing your business plan, ask yourself: Have I been consistent in my thinking that the quality of sales staff fits the image I wish to convey? Has money been set aside for appropriate training?

What social responsibility practices do you intend to follow?

If your business is successful, what is your long-term growth plan?

Will you achieve your personal vision?


Checklist for Your Business PlanYour Business Plan

Good Luck!Work Smart & Enjoy the AdventureWork Smart & Enjoy the Adventure


pulling the plan together create a finished business plan 15-1copyright © 2011 nelson education...

Documents

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