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Business Plan
Essentials for
Social Entrepreneurs
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Agenda
• Preparation
• Gathering information
• What to cover and how
to organize
• Success factors
• Something extra
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Preparing
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Why Undertake Writing a Business Plan
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Poll
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How In Depth Does It Need to Be: That Depends
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Time Span
3 years
sometimes 5
depending on need
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Who Will Be Involved and How
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Questions
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Gathering
Information
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Why Research the Feasibility of Your Business
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Where to Look for Information
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What to Look for
• Market size
• Market needs and characteristics
• Market segments and underserved niches
• Market trends
− Industry − Regulatory
− Technology − Political
− Sociological − Economic
• Competition
• Data to help make budget assumptions/
financial projections
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Compare Yourself to the Competition
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Questions
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Structure of the
Business Plan
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Business Plan Sections
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Company/Business Description Section
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Vision/Mission
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Vision
• The dream
• This is about what could be
• It’s squishy, subjective
• It’s your rallying cry
• Use powerful, simple yet memorable
phrases that capture the essence of
your vision
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Examples of Great Vision Statements
• John Kennedy: land a man on the moon and safely return him
to earth by the end of this decade
• Coca Cola: benefits and refreshes everyone it touches
• Avon: to be the company that best understands and satisfies the
product, service and self-fulfillment needs of women – globally.
• Microsoft: a personal computer in every desk top running Microsoft
software
• Dell: listens to customers and delivers innovative technology
and services they trust and value
• Amazon: to be earth's most customer centric company; to build
a place where people can come to find and discover anything
they might want to buy online
• Google: we provide access to the worlds’ information in one click
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Mission
Answers
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Example of Great Mission Statements
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Developing Your Mission and Vision
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Marketplace Analysis
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Marketplace Analysis
Competition:
• Who else offers your product/service? Where?
• Who buys from your competitors?
What are their plans for growth?
• How important are your target customers to the competition?
What share of market do you have vs.
the competition per customer segment?
• Compare strengths and weaknesses to you:
− Product performance
− production/service delivery
− Experienced personnel
− Location
− Brand awareness
− Etc.
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Marketing Strategy
• Define Market
− Demographic − Psychographic
− Geography − Purchasing habits
− Life / business style − Buying sensitives
• Product description
• Marketing objective
• Positioning: What’s your value proposition?
• Pricing
• Distribution channels
• Communications tactics: direct mail,
advertising, promotion, trade shows,
word-of-mouth, etc.
• Public relations
• Strategic alliances that help
penetrate the market faster
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Operations
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Organization Plan
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Values and Social Responsibility
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Tool: Value Impact Chain
Source: Social Impact Assessment and Building Your SROI, Cathy Clark Faculty Advisor, GSVC Director, Research
Initiative on Social Entrepreneurship Columbia Business School
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Tool: Value Impact Chain
−
What would
have
happened
anyway
= Impact
Source: Social Impact Assessment and Building Your SROI, Cathy Clark Faculty Advisor, GSVC Director, Research
Initiative on Social Entrepreneurship Columbia Business School
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Exit Strategy
• Go public
• Acquisition/merger
• Sale
• Buy-out
• Franchise
• Hand down
• Close
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Financials
• Income statement
• Cash flow statement
• Balance sheet
• Other
− Source and use of funding
− Startup costs
− Breakeven analysis
− Assumptions
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Financials
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Risk & Contingency
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Appendix
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Executive Summary
• Solve a problem
• Turn the problem into an opportunity
• Define the market and its potential
• Analyze the competition and
state your advantage
• Describe the company’s products
• Strategize on the best way
to market your product
• Portray solid management expertise
• Summarize financials and spell out
how much you need and for what
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Questions
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Success Factors
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Questions to Ask Yourself
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Questions Others Will Ask
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Dotting the “i” and Crossing the “t”
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Questions
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Something Extra
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Nondisclosure Agreement (NDA)
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5 Ways to Name
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Identify Your Reasons For Starting a Business
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Determine the Additional Support You’ll Need
• Take classes
• Join industry groups
• Join networking groups
• Network
• Join peer-to-peer
mastermind or CEO
Roundtables
• Read books and magazines
on entrepreneurs and
entrepreneurial techniques
• Find a mentor or advisor
• Use a coach
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Set Your Own Direction
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Getting Ready to Grow: The Tools You’ll Need
• Email me at
info@ventureneer.com for
this ebook.
• Include Getting Ready to
Grow in the subject line
• Find out more about
Ventureneer’s 8 week class:
Business Plan Essentials
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Suggested Reading
• Harvard Business Essentials Entrepreneur’s Toolkit: Tools and Techniques to Launch and Grow Your New Business
• Values-driven Business: How to Change the World, Make Money and Have Fun by Ben Cohen and Mal Warwick
• stengelsolutons.com
– Ten Tips for Developing a Meaningful Market Analysis
– Ten Tips to Getting Valuable Feedback Online
• Stengel Solutions Handouts (to be emailed)
– Hungry for Feedback That Will Really Grow Your Company? Create the Perfect Survey
– Redefine (Define) the Company Vision/Mission
– Sample business plan
• WSJ.com
– Why Business Plans Don’t Deliver: The five most common flaws—and how to fix them
http://online.wsj.com/article/SB10001424052970204830304574133501980701202.html
• Entrepreneur.com
– How to Research Your Business Idea
http://www.entrepreneur.com/startingabusiness/businessideas/evaluatingyouridea/article70518.html
– How to Name Your Business
http://www.entrepreneur.com/startingabusiness/startupbasics/namingyourbusiness/article21774.html
– Full Dream Ahead
http://www.entrepreneur.com/magazine/entrepreneursstartupsmagazine/2004/february/68924.html
• MyOwnBusiness.com
http://www.myownbusiness.org/s2/index.html
• Business Week
http://allbusiness.businessweek.com/business-planning-structures/business-plans/437-1.html
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Questions
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