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78 Cards in this Set
- Front
- Back
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Identifies key areas of your business so you can maximize the time you spend on generating incom |
Business Plan |
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Helps you start and keep your business on a successful path |
Business Plan |
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A weitten document that defines the goals of your business and describes how you will attain those goals |
Business Plan |
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Sets objectives, defines budget, engages partners, and anticipates problems before they occur |
Business Plan |
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Less emphasis on critical details. Used to test your assumptions, concept, and measure the interest of potential investors |
Mini-plan |
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Almost total emphasis on details. Used continuously to review business operations and progress. |
Working Plan |
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Emphasis on marketability of the business concept. Used to give information about the business to bankers, venture capitalists, and other external resources. |
Presentation Plan |
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Essential Components of a Business Plan |
-Overview of the Business -Marketing Plan -Financial Management Plan -Operations and Management Plan |
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Describes the business, including its products and services |
Overview of the Business |
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Describes the target market for your product and explains how you will reach that market |
Marketing Plan |
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Details the costs associated with operating your business and explains how you will pay for those costs, including the amount of financing you may need |
Financial Management Plan |
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Describes how you will manage the core processes of your business, including use of human resources |
Operations and Management Plan |
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Must help investors understand and gain confidence on how you will meet your customers' needs |
Business Plans |
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7 common parts of a Business Plan |
-Executive Summary -Business Concept -Market Analysis -Management Team -Marketing Plan -Financial Plan -Operations and Management Plan |
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A 3-5 page introduction to your Business Plan |
Executive Summary |
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Critical, because many individuals (including venture capitalists) only read this part |
Executive Summary |
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(part) your business name and location |
Executive Summary |
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(part) A brief explanation of customer needs and your products or service |
Executive Summary |
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(part) the ways that the product or service meets or exceeds the customer needs |
Executive Summary |
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(part) An introduction of the team that will execute the Business Plan |
Executive Summary |
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(part) subsequent paragraphs that provide key details about your business, including projected sales and profits, unit sales, profitability, and keys to success |
Executive Summary |
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(part) Visuals that help the reader see important information, including highlight charts, market share projections, and customer demand charts |
Executive Summary |
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Shows evidence that a product or service is viable and capable of fulfilling an organization's particular needs |
Business Concept |
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Articulates the vision of the company, how you plan to meet the unique needs of your customer, and how you plan to make money doing that |
Business Concept |
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Discusses feasibility studies that you have conducted for your products |
Business Concept |
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Discusses diagnostics sessions you had with prospective customers for your services |
Business Concept |
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Captures and highlights the value proposition in your product or service offerings |
Business Concept |
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Defines the target market so that you can position your business to get its share of sales |
Market Analysis |
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Defines your market |
Market Analysis |
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Segments your customers |
Market Analysis |
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Projects your market share |
Market Analysis |
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Positions your products and services |
Market Analysis |
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Discusses pricing and promotions |
Market Analysis |
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Identifies communications, sales, and distribution channels |
Market Analysis |
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Sections of Management Team |
-Organizational Structure -Management Team -Working Structure -Expertise -Skills Gap -Personnel Plan |
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Highlights the hierarchy and outlines responsibilities and decision-making powers |
Organizational Structure |
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Highlights the track record of the company's managers |
Management team |
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You may also offer details about key employees including qualifications, experiences, or outstanding skills, which could add a competitive edge to the image of the business |
Management Team |
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Highlights how your management team will operate within you defined organizational structure |
Working Structure |
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Highlights the business expertise of your management and senior team |
Expertise |
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You may also include special knowledge of budget control,personnel management, public relations, and strategic planning |
Expertise |
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Highlights plans to improve your company's overall skills or experrise |
Skills Gap |
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In this section, you should discuss opportunities and plans to acquire new information and knowledge that will add value |
Skills Gap |
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Highlights current and future staffing requirements and related costs |
Personnel Plan |
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Details what you propose to accomplish, and is critical in obtaining funding to pursue new initiatives |
Marketing Plan |
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Explains (from an internal perspective) the impacts and results of past marketing decisions |
Marketing Plan |
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Explains the external market in which the business is competing |
Marketing Plan |
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Sets goals to direct future marketing efforts |
Marketing Plan |
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Sets clear, realistic, and measurable targets |
Marketing Plan |
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Includes deadlines for meeting those targets |
Marketing Plan |
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Provides a budget for all marketing activities |
Marketing Plan |
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Specifies accountability and measures for all activities |
Marketing Plan |
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Translates your company's goals into specific financial targets |
Financial Plan |
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Clearly defines what a successful outcome entails |
Financial Plan |
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Provides you with a vital feedback-and-control tool |
Financial Plan |
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Anticipate problems |
Financial Plan |
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The most essential part of your business plan |
Financial Plan |
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It shows investors the timeframes you have scheduled to make profits |
Financial Plan |
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Important assumptions |
Financial Plan |
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Key Financial Indicators |
Financial Plan |
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Break-even analysis |
Financial Plan |
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Projected Profit and Loss |
Financial Plan |
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Projected cash flow |
Financial Plan |
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Projected balance sheet |
Fianncial plan |
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Business ratios |
Financial plan |
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Long-term plan |
Financial Plan |
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Financial Planning Options |
-Short-term forecast -Budget -Strategic Forecast -Cash Forecast |
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Projects either the current year or a rolling 12-month period by month |
Short-term forecast |
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This type of forecast should be updated at least monthly and become the main planning and monitoring vehicle |
Short-term forecast |
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Translates goals into detailed actions and interim targets |
Budget |
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Should provide details, such as specific staffing plans and line-item expenditures |
Budget |
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Should generally be frozen at the time they are approved |
Budget |
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Incorporates the strategic goals of the company into projections |
Strategic forecast |
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Breaks down the budget and 12-month forecast into more detail |
Cash forecast |
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The focus of these forecasts is on cash flow, rather than accounting profit, and periods may be as short as a week in order to capture fluctuations |
Cash forecast |
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Outlines how your company will operate |
Operations and Management |
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Organizational structure of the company. Provides a basis for projected operating expenses and financial statements |
Operations and Management |
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Expense and capital requirements to support the organizational structure |
Operations and Management |
