The accompanying page of text talks about your firms competitive advantagewhat makes your product or service or firm uniqueand how your competitive advantage gives you an opportunity to win sales from these firms. They were great salespeople, and yet they were not making a profit. Highlights. The goal of this section is to describe your firms product or service in order to help the reader understand what you are selling and how it could help your target cus¬tomers. • A special form of informational plan posted on the Internet is the proof-of-¬concept Web site. The Product(s) or Service(s). The exact issues raised by business experts, bankers, lawyers, and investors are often specific to your plan, but the themes they consider in assessing risks are actually quite common. However it is important to make sure that the numbers can be supported by a trustworthy source. A business case is often used to lay the foundation for something that is believed to be successful by performing an in-depth analysis of the entire project or process. II. The Company and the Concept. Plans, once done, get revisited. One is when outsiders expect it. Board of Directors. Strategy slide: This focuses on a one or two line explanation of your strategy as it relates to your making profits (your overall strategy). Typically the first two subsections are the vision statement and mission statement of the business, which were discussed earlier. Business plans can also be used as a way of establishing a baseline against which a firm can measure its performance. Regulatory and Legal Issues. The key is to get as much feedback as possible before sending it out in hopes of money, sales, or people. Uncertain sales (especially conversion rates): The conversion rate is the percentage of people who buyout of the total population of people you approach. Successful firms invariably possess (or develop) all four types. Operational plans are designed to be used as working documents within a business. When the plan does not clearly specify the key paybacks to readers, it fails to sell them on the idea. Usually the presentation provides an overview of key points of the business plana chance to sell your ideas and, most of all, a chance to sell yourself. What is impressive? Advertising and Promotion. • Copies of signed contracts, letters of intent or commitment, or contingency con¬tracts from customers or investors (useful to show acceptance). Entrepreneurs need to have a variety of versions of their businesss story available. For investors, growth rates and profit margins are important because those determine their earnings. For our project business case example we’re going to imagine a growing company that is … Employment and Other Agreements and Stock Option and Bonus Plans. This helps you keep tabs on individual copies. The table identifies the major competitors for your market by name and location. Key Management Personnel. For bankers, it is the payback (note that this is NOT the payback criterion for investing) of the loan or line of credit, so cash flows and collateral issues are important. • Finances: Describes the deal being offered investors and the schedule for payouts. Test marketing is selling your product or service in a limited area, for a limited time. The Team. So far you have covered the product and the customer. Expect really tough questions. Remember, the elevator pitch is often the first real insight people have about your business, so it is essential to have a pitch that flows and sells for you. In writing business project reports, the SWOT analysis is usually applied in order to properly assess the strengths, weaknesses, opportunities, and threats of a business project. One might be a securities disclaimer. You want to be able to give the pitch or concept dozens, even hundreds, of times. Working around approvals usually hinges on sell¬ing services or products that are part of the business but do not require specific approval. Both approaches are common. The market section talks about your customerswho they are and what they are like, who else is pursuing them, and how you plan to get or keep your customers. Make sure you know the names of all the people in the room, and their position, so if there is a part of the plan you think might be of interest to them, you can mention it. When they ask tough questions, try not to get nervous, upset, angry, or defensive. For example, a stu¬dent was developing a wireless cell phone headset. Zena is a strategic thinker and brings a practical, straight-forward approach to marketing and social media. • Business: Describes the current stage of the business and when major milestones of starting, sales, or profitability will be met . Once you have written the complete business plan, you are positioned to create special-purpose versions of the plan to meet the needs of a wide variety of people important to your business. Presentation business infographic template with 5 options. 279,000+ Vectors, Stock Photos & PSD files. It is very common to have multiple target audiences. Examples of advertising materials, displays, coupons, or the like are useful and typi¬cally mentioned here, but details are put in an appendix. Jane and John had a good idea, a good sense of their market, and a good location. 2. Months to Breakeven. Creating a business plan is the acknowledged best way to build external legitimacy for your firm. The disclaimer is needed to comply with Securities and Exchange Commission (SEC) rulings. Legal and Organization Structures (1/2-1 p.). In a business, one critical risk is not knowing as much as your competition does. Brief your team on a new business project with this accessible presentation template, covering project goals, description, competitive analysis, technology, resources, procedures, schedule, and related documents. This is called external legitimacy. It is better to have less material and know it backwards and forwards than to have material in the plan you do not totally understand. A screening plan can also be a useful way to get into the planning process. Include a line on the slide with the request from the listener (Loan of $25,000, Line of Credit of $100,000, Investment of $50,000). There are even Web sites that make it possible for you to get a preliminary analysis of your plan. Give this line in your most confident and sales-oriented manner and mention that you believe you have shown this in todays presentation. Partnership - business man shaking hands with effect digital network link connection graphic diagram, digital global technology with cityscape background, Creative image of many business people conference group meeting. You handle this by creating handouts with the new information. Successive sentences describe the positions and duties of workers at each level below. The full (or classic) business plan contains a maximum of 25 single-spaced pages of text and 15 pages of financials and appendixes. Product/Service and Industry At the time, the student claimed there were no competitors, but most people familiar with the industry knew there were several wireless headsets using the increasingly well-known Bluetooth wireless protocol. Investors Retu rn. The good news is that much of those broad strokes have already been outlined in your business case, where you proposed the project and explained its expected commercial benefit. These days, more start-up businesses are doing business plans than in the past, which increases the importance of your doing one to stay competitive and look as legitimate as the other competing start-ups.9 In your head or on paper, sooner or later most busi¬nesses need to do a plan. 6. The nine parts of the full business plan are detailed below. topic. This might include the major competitive advantages of the firm, its position in the industry, and its attitudes toward customers, competitors, and the environment. 100+ business presentation templates available as a free PDF download. Having experience in sales is always useful, as is experience managing projects or people. When you are serious about your business or when a lot of money of your own or someone elses is at stake, creating a business plan is perhaps the most critical activity you can undertake. Then you point up what your firms projected or achieved profit margins are, I and how Y0nI business model helps make this possible. • Management: Describes the entrepreneur and start-up team in terms of expertise and track record. This is about 100 words and would take about a minute to say. The Company MARKET RESEARCH AND ANALYSIS Customers. CellTunes makes song ordering faster and easier than ever before-you hear it, you got it! It also describes the organizational structure of the firm. Fixed, Variable, and Semivariable Costs. Business PowerPoint Templates Backgrounds HD . The Market The last part of the company background describes the businesss competitive advantage and the way that it goes about making its profits and achieving its mission ¬its business model. These days, small businesses are rarely alone, and the quality of the professionals surrounding you tells people a lot about how good you might be. 1. Target customers are described in terms of demographics (such as age, gender, education, income, experience), their relation to the product or service (will they use it themselves, gift it, resell it, etc. Consider doing this section with one page of text and a one-page table. Just like a project worksheet and a project proposal outline, it is of utmost importance for you to create a project brief whenever you would like to present a particular project to clients.Project briefs can also be a part of your project plan or a project proposal. The best plans explain how investors will be assured that management will be respon¬sive to investor concerns. Be ready with com¬parisons to competitors and their offerings. The summary is probably the single most important written part of the business plan for two reasons. 7. Short biographies of the key personnel replace resumes, and the site may also have price or product lists or testimoni¬als. As a result, a key employee/partner plan (also called a sum¬mary plan, concept plan, or idea plan) can be drawn up to include all the mate¬rials of an informational plan, plus the market section and critical risks subsection of the regular business plan. Help listeners understand why you are excited about the business, proud of it, and ready to stake your reputa¬tion and assets on it. The business plan presentation, like the plan itself, has a very clear tradition about how it is supposed to be done. ), their past expe¬rience with your kind of product or service (new user, prior user of competitors prod¬uct, prior user of your product), and what they are looking for when buying your product or service. Often in test marketing efforts, you give buyers incentives in return for information that helps you profile your actual target customer. It has been checked to make sure all pages are included and cleanly printed. 4. This slide presents the key people with the one or two skills they have that are most persuasive in proving their expertise or their contribu¬tions to the business. So you can easily see how visionary their vision statement was. Every business faces risks in the real world, so every business plan needs to spend some time addressing them. All relationships carry an element of liking. If readers want to know more about something that is not in the plan, they can ask you for the additional information. If you have specific goals or objectives for your business (e.g., Third year sales of $50,000, or Picked-up by a major national chain by year 2), they go in a subsection after the mission statement. • Market: Describes the size and characteristics of the customer group and how it will buy the product or service (e.g., in person, online, catalog). DESIGN AND DEVELOPMENT PLANS Development Status and Tasks. These descriptions often include pictures or graphics that help readers visualize the product or service. The Business Plan Story: Starting Small and Building Up MANUFACTURING AND OPERATIONS PLAN Operating Cycle. Be ready to explain where you get your assumptions, your numbers, and your ideas. The business description or overview and background can be coupled with the next section which covers the vision, mission, values or principles, objectives and goals of your business. CRITICAL RISKS, PROBLEMS, AND ASSUMPTIONS. is the one element that nearly everyone will read first when they receive a plan. Covers should be sturdy to protect the plan from the inevitable coffee stains. Your goal here is to head off the most threatening questions by showing you are working on the problems. These situations can cause investors, bankers, and other readers to evaluate a plan negatively? Having been successful in another line of business is a good second choice. Target Market and Proiections. The purpose of a project report is to serve as a basis for decision-making and in determining whether the project is being carried out according to plan. XII. Letters from manufacturers or consulting engineers confirming the viability and production costs of your product go a long way to alleviating fears in this area. The Appendixes Plans are typically delivered as an 8-1/2- by 11-inch docu¬ment, which has been carefully and repeatedly checked to eliminate spelling and gram¬mar mistakes. Related Service Providers If there is any experience lacking, you need to get it yourself or hire it through partners, employees, or consultants working with you. The following pages will help you understand the thinking behind business plans and how to make and present your own. For example, being able to say, In my five years at Hobbyco, my sales increased an average of 50 percent a year shows your sales abilities are improving, which is good. Geographical Location. Showing how you plan to pro¬tect and perhaps even make additional profits from your intellectual property (e.g., through licensing patents or trademarks) strengthens the plan, as does talking about new ideas for increasing sales, which typically appears in the research and devel¬opment section. Some parts will be so easy that you can instantly know how everything works. If you have partnerships or alliances with names the listeners would know and respect, these can be included (often as corporate logos) and briefly mentioned. The Industry. 3. If there are plans to expand the facilities, mention them. Is it time to move your business accounts from paper to digital? 3d technology concept of success and business. Having these improvements ready requires some preparation on your part. Preselling involves introducing your product to potential customers and taking orders for later delivery. Some examples of good taglines encompassing the firms vision statement are: • Kelliher/Samets/Volk Advertising (Burlington, Vermont): Creating wow ideas for clients who want to soar. Is a business plan absolutely essential? This is because funding sources typically start their decision process with clear ideas about the industry and the profit levels they want to pursue. Being able to name customers (especially repeat customers) really builds up this section. The business plan tells a story that starts in the here and now and builds believably toward a better future. A schedule of the major milestones or benchmarks the company plans to achieve is often included in the financials section, typically after the assumptions page. The value of preselling, pilot tests, or test marketing cannot be stressed enough. This is given here, along with a description of the facility that focuses on how it meets the strategic and sales goals of the business. • Plans for an existing business: Occasionally, entrepreneurs start a business before they write a plan for it. It follows up with the purpose of the service-helping people obtain the song. The 7 Slides of Classic Business Plan Presentations. Other good sources include the free consultants from the Service Corps of Retired Executives (SCORE), available via score.org or your local Small Business Development Center (sba.gov/sbdc). When they do that, trying to match your sales plan features or com¬petitive advantage, what are you keeping in reserve to help you fight back? In addition to the full business plan described above, there are five other special-purpose types of plan. Al Kemp of Impact Technical Publications offers a free Business Case Primer that covers the areas you should focus on when writing a business … (3-4 minutes), 3. The five types of business planning presentations are (1) vision statements, (2) mission statements, (3) elevator pitches, (4) executive summaries, and (5) business plans. Informational plans typically consist of company and organization sections. Where the type of busi¬ness is well established, such as a dry cleaner or word processing service, the market is well defined and well known, and the entrepreneur comes to the business with expe¬rience in the industry, the amount of necessary description drops dramatically. These can be mailed to people reading your plan, or handed to them at the presentation. It is also common to explain how the customer uses the product or service or how it fulfills some need or desire or solves a problem for the customer. An executive summary is the key component of the written business plan because it Every business plan is a bit like fiction. Sample Project Plan Describe the Major Phases of the Project Often businesses have a circle of out¬siders involved. When it works, a written business plan is the way to get on the schedule of someone who can provide the money, the expertise, or the markets you seek. India is the seventh largest country by areas and second most populous country in the world. • Company name (usually in large type, with a logo if you have one). • Fantastic Gift Baskets (Raleigh, North Carolina): The family at Fantastic Gift Baskets puts the same care and love into designing our gourmet gift baskets as you would if you had the time!18 Location Anything you can do to help readers experience and understand the product or service helps demystify it. If the product or service has protection through a proprietary technology or from patent, trademark, or copyright, you men¬tion it here. This section should make clear how many employees there are and whether they are full time or part time, permanent or seasonal, family or nonfamily. Usually these special-purpose plans use a subset of the total plan. Often a picture is included. Make sure you explain the benefits customers would receive, and talk about the customers personal experience in trying out, buying, and using the product. For all types of business plans, a set of financial reports or projections is expected. For small businesses with an owner-manager and an employee or two, it is easier to just give the description in words. When you have only a moment to talk, your vision statement or a tagline youve developed is the way to go. These can include pro¬tections through patents and intellectual property protection or relationships with powerful partners. Costs. The financial statements expected include: (1) income statements (also called a P&L for profit and loss) and its assumptions, (2) cash flow and its assumptions, and (3 balance sheet and its assumptions. It talks about the history and vision of the restaurant and includes a detailed operational plan covering everything from table layouts to techniques for minimizing waste. It builds on the value benefits being sought by your customers and shows how these are turned into promotional efforts, pricing and incentive programs, distribution techniques, and location. It usually consists of two subsectionsone that provides an overall description of the business and another focusing on its product or service. Sponsored. The best test of the conversion rate is through test marketing or preselling. Existing firms have assets to pro¬tect, such as the customer list, the firms name, and any intellectual properties it has developed (e.g., a patented way of performing work, a trademark, a copy¬righted report, a recipe protected as a trade secret). • Results of marketing studies or pilot sales efforts (useful for showing market acceptance) . The goal of appendixes is to provide sup¬porting information that helps detail or support the key selling points of your plan. Have family and friends listen to it. Beautiful young woman jumping with megaphone isolated over red background. The kinds of benefits these different groups look for in a plan are given in Table l. The other circumstance under which a business plan is needed is for internal understanding. This section gives a brief description of the business-its age and location, as well as the markets it serves or plans to serve. The pitch ends with where the business is now-seeking money from seed investors. Get exclusive resources straight to your inbox. The reason was that they did not plan their business all the way through. If you have schedules for seasonal hiring and if you have standards for hiring, they get mentioned in this section. Typically the critical risks and the deal will each take about one page each. In either case, the key information is the number of customers approached and the percent who bought. This includes the industrys SIC (Standard Industrial Classification) and NAICS codes, the size of the industry (in number of firms and sales), and some indication of the historical trend of growth, stability, or decline (how much it is growing, how long it has remained stable, or by how much sales overall is it declining over time). Pioneering products also face a hurdle around manufacturing ¬can they be manufactured at a cost that leaves a chance for profit? Even when it doesnt lead to any specific business, this information about your business should be memorable enough so that the listener can tell others about your business. The plan is important, but what is even more important is the understanding you get from the planning process. Business project planning overview presentation. The language should be upbeat and positive, and where there are numbers that support the operation of the business model, such as a 25 percent profit margin, 98 percent customer satisfaction, or double-digit growth, those should be included. Knowing the conversion rate, a reader then takes your projected market size, applies the conversion rate (probably something like 50-75 percent of the claimed rate just to play it safe), and then estimates what the total sales might be. Providing a comparison of the two is often a good idea. (1 minute), 4. The goal for the key personnel subsection is to inspire that confidence in your reader. THE ECONOMICS OF THE BUSINESS Gross and Operating Margins. It should be neat and orderly, with perfect spelling and grammar. Plans for any business whose product or service is new, even revolu¬tionary, or in which the entrepreneur is new to the industry, are the ones that really need these 25 pages. In such cases, the written plan is followed by a chance for you to make a formal presentation of your plan and answer questions about it. • Contact information (owner names, company address, telephone and fax numbers, e-mail and Web site addresses). These form a foundation for the plan, so the projections about future markets, sales, and profits should clearly build on these historical facts. • BabyGenie.com (Fort Lauderdale, Florida): The mission of BabyGenie.com is to become one of the best online resources for young mothers and repeat parents. Mission statements can get long. Give the best presentation possible with these templates/ backgrounds. Market and Target Customer. Ideally, you should have a circle of advisers who can review the plan and help iden¬tify the critical risks and your coverage of them. Even so, the financial section remains its usual length, although the appendixes may be sparse. This circle might include successful entrepreneurs you know, lawyers, or accountants. Who are your key personnel? What investors will care about is how your personal history, work experience, skills, strengths, and education will help you succeed in the business. Support • Plans for a new entrant business: When your product or service already exists but your firm is the first of its kind in your market, it is considered a new entrant business. Listeners might be customers or investors, but either way, the goal is to sell them on the idea and their need for it. If you will take three or more years to show a profit, it makes sense to give projec¬tions for five years.
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