Update your Plan

IDENTIFY YOUR OBJECTIVES

OUTLINE YOUR BUSINESS PLAN

REVIEW YOUR OUTLINE

WRITE YOUR PLAN

HAVE YOUR PLAN REVIEWED

UPDATE YOUR PLAN

3 - Four interdependent factors critical to every new venture, that business plan should assess (Source:Sahlman, William. “How to Write a Great Business Plan.” Article 114-121)

1. The People
2. The Opportunity.
3. The Context.
4. Risk and Reward.

4 – Nine Questions about the business every business plan should answer (Source:Sahlman, William. “How to Write a Great Business Plan.” Article 114-121)

1. Who is the new venture’s customer

2. How does the customer make decisions about buying this product or service

3. To what degree is the product or service a compelling purchase for the customer.

4. How will the product or service be priced?

5. How will the venture reach all the identified customer segments

6. How much does it cost (in time and resources) to acquire a customer?

7. How much does it cost to produce and deliver the product or service?

8. How much does it cost to support a customer?

9. How easy is it to retain a customer

5- Questions about the competition every business plan should answer: (Source:Sahlman, William. “How to Write a Great Business Plan.” Article 114-121, The Opportunity section)

1. Who are the new venture’s current competitors?
2. What resources do they control? What are their strengths and weaknesses?
3. How will they respond to the new venture’s decision to enter the business?
4. How can the new venture respond to its competi-tors’ response?
5. Who else might be able to observe and exploit the same opportunity?
6. Are there ways to co-opt potential or actual competitors by forming alliances?

6- Questions about the cash flow implications of pursuing an opportunity (Source:Sahlman, William. “How to Write a Great Business Plan.” Article 114-121, The Opportunity section)

1. When does the business have to buy resources, such as supplies, raw materials, and people?
2. When does the business have to pay for them?
3. How long does it take to acquire a customer?
4. How long before the customer sends the business a check?
5. How much capital equipment is required to support a dollar of sales?

7- Briefly describe each Section of Business Plan ( Source:Ernst and Young LLP. “Outline for a Business Plan.” Article 1997: 122-129)

The Executive Summary should not be a mere listing of topics contained in the body of your

business plan but should emphasize the key issues presented.

A critical point that must be communicated in the Executive Summary is your company’s distinctive

competence—the factors that will make your business successful in a competitive market.

Дата добавления: 2015-11-16