tips for developing a successful business plan · 2018-10-08 · tips for developing a successful...
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Tips for Developing a Successful Business Plan
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Hi!!!!!!
Who am I
I am Omar Chambers
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Hi!!!!!!
Who are you ?
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Success
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1. the favorable outcome of something attempted
2. the attainment of wealth, fame, etc
3. an action, performance, etc, that is characterized by success
4. a person or thing that is successful
5. obsolete any outcome
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What is a business plan? A business plan is a documented statement of business goals, describes how they are attainable, and your plans for attaining them. • Strategy (e.g. Setup, costs or marketing) • Staffing
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Types of business plans • Business plan for a startup • One-page business plan • Feasibility plan • Internal plan • Operations plan or annual plan • Strategic plan
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1.Executive Summary 2.Mission Statement 3.Vision 4.Company Summary 5.Keys to Success 6.Start up Summary 7.Competitive Comparison 8.Marketing Strategy 9.Financial Projects and Financing 10.Conclusion
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Executive Summary
Brief outline of the Business plan
Tip
Capture the relevant points / Make sure reader can rapidly become acquainted with your Dream/Goal • State the Purpose clear • State why it will be Successful
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Mission Statement
Your purpose / Describes why you are in business. It helps to filter what is important
Tip • Meaningful • Don’t be afraid to share your mission • Can be updated as you grow or change focus • Identify who you want to serve
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Vision
Your objective (Privately lol). Where you are heading
Tip • Meaningful / Clear • Don’t be afraid to share your Vision • Can be updated as you grow or change focus • Identify exactly where you want to be
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Company Summary
Detail description of your setup. Allows you to match your company’s setup with your strategy
Tip • Location (is it strategic) • Store / building (is it efficient) • Staffing (do you have the right staff) • Departments ( work flow)
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Keys to Success
What will bring you success. What Inspired you. Why should people do business with you
Tip • List your Strategy
(does it make sense)
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Competitive Comparison
SWOT of your competitors SWOT of your Business
Tip • Be objective • Don’t relay on your own feeling • Do research • Find similar foreign markets
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Marketing Strategy
Detailed document of your plan to attract business. Plan Quarterly and Year. Outline your targets
Tip • Follow current trends • See what your competitor is doing • Think outside the box • Move out of your shell • Seek Professional Help • Network
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Marketing Strategy
Tip
Omar 3ps
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Marketing Strategy
Tip
People
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Marketing Strategy
Tip
Product
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Marketing Strategy
Tip
Place (Location)
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Financial Projects and Financing
What you hope to make (in what time) What you plan to Own (when) What you plan OWE (for how long)
Tip
• Seek professional help (useful and informative) • Be realistic (don’t dream) • Be conservative
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Questions?
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Link International Group
67 Fort Street Artemis House PO Box 1978, Grand Cayman KY1-1505
Cayman Islands T 1(345) 623.0030 W www.linkgroup.ky