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19 Cards in this Set
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is a written document that describes in detail how a business usually a start-up - defines its objectives and how it is to go about achieving its goals |
business plan |
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lays out a written roadmap for the firm from each of a marketing, financial, and operational standpoint |
business plan |
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The length of the business plan varies greatly from business-to-business. All of the information should fit into a |
15 to 20 pages document |
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Elements of Business plan |
Executive summary Products and services Market analysis Marketing strategy Financial planning Budget |
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This section outlines the company and includes the mission statement along with any information |
Executive summary |
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The company can outline the products and services it will offer, and may also include pricing, product lifespan, and benefits to the consumer |
Products and services |
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A firm needs a good handle of the industry as well as its target market. It will outline who the competition is and how it factors in the industry, along with its strengths and weaknesses. It will also describe the expected consumer demand |
Market analysis |
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This area describes how the company will attract and keep its customer base and how it intends to reach the consumer. |
Marketing strategy |
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Financial statements, balance sheets, and other financial information may be included for already-established businesses |
Financial planning |
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Any good company needs to have a budget in place. This includes costs related to staffing, development, manufacturing, marketing, and any other expenses related to the business. |
Budget |
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Types of business plans |
Traditional business plans Lean start-up business plans |
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is the most common. They are standard, with much more detail in each section. These tend to be much longer and require a lot more work. |
Traditional business plans |
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on the other hand, use a standard structure even though they aren't as common in the business world. These business plans are short-as short as one page-and have very little detail. |
Lean start-up business plans |
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This will give you something concrete by which to monitor and assess the progress you make. |
Provide a road map |
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It's an emotional roller coaster of mass excitement and sharp shots of anxiety. Amid all this and with an ever mounting in-tray of "to do's", you can fast lose track of what's important |
Understand what to focus on |
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To support your growth will require an injection of funding |
Raise finance |
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The usefulness of a cash flow forecast doesn't end there though. Managing your cash position, as you may have already gathered, is fundamental to the long term future of your business |
Manage your business effectively |
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To understand what it will take to get your dream off the ground. Following a business plan can help you to map out the growth of your company and give confidence you confidence when you need it. |
Fueling Ambitions and Mapping growth |
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Main components of a business plan |
-Title page -Table of contents -Executive summary -Company overview -Product and service offerings -Competitive and market analysis -Sales and marketing plan -Ownership structure and management plan -Operating plan -Financial plan -Appendix |
