www.dynamicbusinessplan.com to the lecture from mr. mogens thomsen, thomsen business information i...

www.DynamicBusinessPlan.com

To the lecture from Mr. Mogens Thomsen, Thomsen Business Information

I am proud you will use this material for your education.

Here you find a suggestion for structuring of your entrepreneurship education. The power points follow this pattern:

• Introduce the students to what is going to happen in this entrepreneurship module• You must create a good learning environment for the students• Discuss entrepreneurship in general terms with students• Help students create an idea and turn it into a business idea• Introduce a project plan on how to start a business – the business plan• Trust that the students can create a business plan using www.dynamicbusinessplan.com• Coach the students while creating the business plan• Make the students present the business plan for you and others

Read more about the entrepreneurship education concept: “Unleashing the Entrepreneurial Spirit” at www.dynamicbusinessplan.com/entrepreneurship


Agenda:1. Presentation of the entrepreneurship module

2. Development of a business idea

3. Introduction to writing a business plan

4. Where to find help?

5. Form groups and choose the type of business to start

Entrepreneurship module, XX UniversityLecture: Mr./Mrs./Miss xx


Entrepreneurship module- How to start your own business


Targets of entrepreneurship module

Objectives for students• Feel that they dare start a business when the time is right • Acquire an understanding about starting a business• Understand drafting of the business concept• Encounter problems and solve them• Be able to present their business in a persuasive way

Learning outcomes• Be able to write a business plan• Create an establishing and operating budget in a spreadsheet • Show they have solved problems / challenges• Plan and execute a presentation of business plan


The task: Plan start of business

1. Choose type of business

2. Make a business plan

3. Present the business plan

The proces

• Common introduction

• Individual advice in study groups - app. 60 min.• ”Stand by advice”• Hand over the business plan to lecture• Present the business plan in class


Quality of the business plan

Relevant topics in the plan shall be supported by data.

Three types of data:

• Factual data- when one table cost 500 $, two must cost 1000 $

• Estimated data - two customers said they will buy - therefore 20 might also buy ..

• Allegations - I just believe it is like that …


Presentation of business plan

Max. 10 min. oral presentation + OHP / PP / blackboard to the class and to the lecture/ invited entrepreneurs.

The following must be included:• What does the company sell?

• Which and how many customers?• How to come in contact with the customers?• Turn over year one?• Profit year one?

• Need for financing?

Questions from class and lecture/ invited entrepreneurs


Rating of the project

The entrepreneurship module will be accepted if:

• The business plan has a certain depth (Factual and estimated data)

• The presentation gives the audience a clear picture of your business.• The presentation shows that you have considered your decisions• It is OK if the conclusion is not to start the business


Teaching material

Go to:• www.DynamicBusinessPlan.com

Here you will find:• Template for a Business plan - word• Establishing budget - excel• Operating budget – excel• Online business plan information

Reading:• Book: The Dynamic Business Plan


Entrepreneurship in our country

• Definition of an entrepreneur• Entrepreneurs in your family?• Top three entrepreneurs in the country?• What makes a good business?• Room for more entrepreneurs in the country?• Government effort to promote entrepreneurship


Development of business idea- work in study groups

• Discuss the use of a mobile phone:- two years ago- to day- in three years

Can you ways to profit of the mobile market in three years?

• What type of business do you prefer the most?• Where do you find most customers to day?• Where do you find most customers in two years?• Each group discus their business idea• Each group create a business idea in group work


Three steps to start a business

Three ingredients must be present to start a business:

+ Be creative (combine known things in a new way: an idea)

+ Be innovative (the found idea must be useful for customers)

+ Entrepreneurship (carry out the useful idea in real life, action!)

= Start of a new innovative business

A business plan helps you describe the new business


Business plan- items you must know about:

Download business plan template: www.dynamicbusinessplan.com/downloads


Personal resources

• Your family network• Economy• Education in the field• Know-how about the product/the services• My weak points in relation to the business• My working tasks in the business• Future prospects for business size


Product or service

• Products/lines/service – 1 - 2- 3• Differences compared to your competitors• Purchase frequency/product life span • Calculation of product/service• Price of product• Purchase price • Name of contractors• Kind of distribution of the product• Other businesses in this trade


Market – who will buy?

• The typical private customer• The typical business customer• Geographical limits• Realistic number of customers• Average consumption in cash per customer• Important competitors• Competitive parameters on the market• Possibilities on the market for your business• Threats that may destroy the possibilities


Sales and Marketing

• Direct mail• Internet• Customer visit• Telephone sale• Advertising• Publications• Signposting• Presentation material• Trade Fair• Public Relation (PR)• Opening market activity


Management and Organisation

• Name of business/address/phone no/ • Legal status of business• Owners• Bank• Accountant• Business policies• Accountancy and administrative routines• Write letters• Telephone reception• Insurance subscriptions• Business partners /consultants


Business Development

• Business appearance in three years?• The product or service in three years?• Customers in one and in three years?• Financial forecast for year three?• Other goals with your business?


Budgets and Financing

• Establishing budget• Operating budget• Cash Flow budget

• Financing+ Necessary establishing capital+ Necessary liquidity= Total funding needs


Annual accounts - profit & loss

Turnover/sale‑ Used goods /variable costs= Gross profit ‑ Fixed costs‑ Interest- Depreciation = profit = your salary

• Personal tax is paid on the basis of the company´s profit• Accounts and budgets are always without VAT/sales tax


Profit & loss statement - Accounts for a small building company, 2014

Turnover/sale 442.000‑ Use of goods 145.860 = Gross profit 296.140 ‑ Fixed costs 97.116 ‑ Interest 0= Profit = Your salary 199.166


www.DynamicBusinessPlan.com - core business plan knowledge


Business Plan answers

www.dynamicbusinessplan.com/three-important-budgets


First work task: Decide your business idea

Task:

• Decide which kind of business you will start ?

• Describe the business in four lines and hand it over to the lecture at the first meeting

Inputs:

• Build on your own experience - business as leisure

• Build on what you find interesting, fun or challenging

• You could assume you have specific education or contacts


Second work task:Individual coaching in study groups

The study group gets the chance to talk lecture for app. 60 minutes.

The lecture and the study group will among other things discuss:

• What will your business sell?

• Which and how many customers?

• How do you get in contact with customers?

• Turnover year one?

• Cost year one?


Teaching material – once again

Go to:• www.dynamicbusinessplan.com

You will find:• Template for a Business plan - word• Establishing budget - excel• Operating budget – excel• Online business plan information

Reading:• The book: The Dynamic Business Plan

www.dynamicbusinessplan.com to the lecture from mr. mogens thomsen, thomsen business information i...

Documents

business slide

business plan trust

business idea

type of business

business plan relevant

project plan

thomsen business information

problems challenges