Date post: | 12-Jan-2016 |
Category: |
Documents |
Upload: | lilian-williams |
View: | 215 times |
Download: | 2 times |
1
How to Prepare a Business Plan
Presented by Roger PierceNewcomerStartup.com
2
Control & freedom No job security anymore Pursue your passion Earn money Change the world
◦2.7 Million self-employed in Canada
Why startup?
3
Focus! Organize your thoughts and actions Raise financing Guide your team Proactive not reactive Determine costs
Why create a Business Plan?
4
1. Clear2. Well-researched3. Short (10 pages)4. Comprehensive5. Proofed by experts6. Written by you7. Updated every 2 years
Ingredients of a great plan
5
Cover Page Business name, contact information
Executive Summary Highlights of the plan (1 page)
Business ProfileYour business objectives Growth expectations and strategy
Ownership and Management
OwnershipManagement and advisors Professional advisors (lawyer, accountant)
Business Environment Analysis
History Industry overviewIndustry position
Marketing Plan
Target market CompetitorsCompetitive advantagesSales and marketing plan
Inside a Business Plan
6
OperationsLocation Equipment/TechnologySuppliersCost centresHuman resourcesSalesCustomer Service/Support
Financial StatementsBalance SheetIncome StatementCash Flow Forecast Financing needs (Startup Budget)Banking arrangements
Personal Financial StatementNet worth Employment history
AppendixResearch reportsFloor plans & diagrams
Inside a Business Plan
7
Creating your plan:
ResearchThinkDecideEnter
8
Passion Ambitions in life Work preferences Personal priorities Your skills
What about you?
9
Personal goals Financial goals What will your business achieve? Who will it serve?
Set goals
10
Research your idea◦Customers
Surveys Interviews Focus Group
◦Competition Industry research Trends
Market Research
11
What you will sell What does it do Benefits Suppliers Price Costs
Product description
12
Where will your business operate Who will run it
◦Hiring employees Processes to make a product or deliver a service
Decide operations
13
Calculate Startup Budget◦Capital costs +◦Operating costs (x 6 months)
Revenue & expenses for financial statements
How much money do you need?
Capital Cost Operating Costs
Equipment Heat
Renovations Telephone
Inventory Wages
Building Advertising
14
Savings Friends & family Banks Investors Gov’t Programs Customers & suppliers
Where you’ll get the money
15
1. Professional advisors (banker, lawyer, accountant, coach)
2. Peer advisors (entrepreneurs, mentors, colleagues)
3. Paid help (employees, suppliers, freelancers)
Who will help you in business
16
When will you open for business Planned promotions First customers Schedules Testing your systems
Launch information
17
Underestimate revenue Overestimate expenses Ask several experts to proof it Spell check Run “what if?” scenarios Leave it, return, edit
Test your plan
18
Canadabusiness.ca Bizpal.ca CFA.ca Entrepreneur.com Enterprisetoronto.com NewcomerStartup.com
Helpful websites
19
How to Prepare a Business Plan
THANK YOU!
Newcomerstartup.com/downloads