Lecture "Designing business plan - Unit 1: Introduction to Business plan" presentation of content: What is Business plan, the Business plan, a plan must pass three tests, why take the time to build a Business plan, key elements of a Business plan.
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Nội dung Text: Lecture Designing business plan: Unit 1 - Ngô Quý Nhâm
- DESIGNING BUSINESS PLAN
Ngô Quý Nhâm
Foreign Trade University
NGO QUY NHAM
- Course content
F Introduction to business plan
F Market Analysis
F Business Positioning
F Marketing plan
F Organization plan
F Financial plan
4-2
NGO QUY NHAM
- Unit 01
Introduction to
Business Plan
NGO QUY NHAM 4-3
- What is Business Plan?
NGO QUY NHAM 4-4
- The Business Plan
F A written summary of:
§ An entrepreneur’s proposed business venture
§ The business opportunities and strategy
§ Business strategy
§ The operational and financial details
§ The managers’ skills and abilities.
F A business plan is the best insurance
against launching a business destined to
fail or mismanaging a potentially successful
company.
NGO QUY NHAM
- The Business Plan:
Two Essential Functions
1. Guiding the company by
charting its future course
and defining its strategy for
following it.
2. Attracting lenders and
investors who will provide
needed capital.
NGO QUY NHAM
- A Plan Must Pass Three Tests
1. The Reality Test – proving that :
§ A market really does exist for your product or
service.
§ You can actually build or provide it for the cost
estimates in the plan.
2. The Competitive Test – evaluates:
§ A company’s position relative to its competitors.
§ Management’s ability to create a company that will
gain an edge over its rivals.
3. The Value Test – proving that:
§ A venture offers investors or lenders an attractive
rate of return or a high probability of repayment.
NGO QUY NHAM
- Why Take the Time to
Build a Business Plan?
F Although building a plan does not
guarantee success, it does increase
your chances of succeeding in business.
F A plan is like a road map that serves as a
guide on a journey through unfamiliar,
harsh, and dangerous territory. Don’t
attempt the trip without a map!
NGO QUY NHAM
- NGO QUY NHAM
- Key Elements of a Business Plan
F Executive Summary
F Company Description
F Industry Analysis
F Market Analysis
F Business Strategy
F Description of Products/Services
NGO QUY NHAM
- Key Elements of a Business Plan
F Marketing Plan
F Management Team and Company
Structure
F Operation Plan
F Projected Financial Statements
F Loan or Investment Proposal
F Appendices
§ Summary of Feasibility Analysis, including
customer reaction to the products or
services
NGO QUY NHAM
- Business Planning Process
Step 1
Identify a
business Idea.
Step 2 Favorable Step 3 Favorable Step 4
result / result /
proceed proceed
Screen/test the Conduct full Prepare a written
idea to determine feasibility business plan
its preliminary Unfavorabl analysis Unfavorabl
feasibility e result / e result /
stop or stop or
revaluate revaluate
idea idea
Step 2
Present the
business plan
NGO QUY NHAM
- Guidelines for Preparing
a Business Plan
F Remember: No one can create your plan for you.
F Potential lenders want to see financial
projections, but they are more interested in the
strategies for reaching those projections.
F Show how you plan to set your business apart
from competitors; don’t fall into the “me too”
trap.
F Identify your target market and offer evidence
that customers for your product or service exist.
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NGO QUY NHAM
- Tips on Preparing a Business Plan
F Make sure your plan has an
attractive cover. (First impressions
are crucial.)!
F Rid your plan of all spelling and
grammatical errors.
F Make your plan visually appealing.
F Include a table of contents to allow
readers to navigate your plan easily.
F Make it interesting.
NGO QUY NHAM
- Tips on Preparing
a Business Plan
F Your plan must prove that the business will make
money (not necessarily immediately, but
eventually).
F Use spreadsheets to generate financial forecasts.
F Always include cash flow projections.
F Keep your plan “crisp” – between 25 and 40
pages long.
F Tell the truth – always.
NGO QUY NHAM
- Presenting the Plan
F Demonstrate enthusiasm, but don’t be
overemotional.
F Know your audience thoroughly.
F “Hook” investors quickly with an up-
front explanation of the venture, its
opportunities, and its benefits to them.
F Hit the highlights; focus on
the details later.
F Keep your presentation
simple – 2 or 3 major points.
NGO QUY NHAM
- Presenting the Plan
(continued)
F Avoid overloading your audience with
technological jargon.
F Use visual aids.
F Close by reinforcing the nature of the
opportunity.
F Be prepared (with details) for potential
investors’ questions.
F Follow up with every investor to whom
you make your presentation.
NGO QUY NHAM
- Conclusion
F There are no guarantees for success.
F Creating a business plan will be valuable
primarily because of the process itself.
F The business planning process may
provide insight to increase the chances
for success.
F The business plan: Entrepreneurs
benefit; lenders and investors demand it!
NGO QUY NHAM 4 - 18
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