a simple guide to the effective business plan
DESCRIPTION
Are you starting a new business? You NEED a business plan! A business plan is a guide for YOU. Learn about the basic parts of a business plan.TRANSCRIPT
Wri$ng an Effec$ve Business Plan
Amelia Lobo, MBA
ISED Ventures
ISED Ventures envisions vibrant Iowa communi$es where individuals and families have the opportunity to build financial stability and
success.
• Financial Educa$on & Counseling • Felicia Chumley, Advisor
• Small Business Educa$on & Support • Women’s Business Center • Amelia Lobo, Director • Fernando Aveiga, Business Advisor
• www.isedventures.org • Facebook: facebook.com/isedwomensbusinesscenter
Services • Personal financial management
• Pillars of Financial Success • Individual help on budge$ng, dealing with debt, and improving your credit
report
• Free tax prepara$on • Must make less than $57,000/year • No business loss • Personal taxes plus Schedule C (Sole Proprietor/LLC) • Review of prior years/late filing
• Small Business • Educa$on: Business Planning/Special classes • One-‐on-‐one counseling
The Business Plan
The Execu$ve Summary • 2 Pages, tops • The value proposi$on • What you do • How you make money • Why customers will pay
• Wri\en to share with investors? • Include the $$ ask
• Write the summary last
Market Opportunity Compe$$on
Your Team Business Model
• Target Market=Who are you going to sell to? • Who are they? • Loca$on/income/Taste/Age/Sources of influence
• How many are they? • Sources: industry associa$ons, census data, other business owners
Market Opportunity
• Who are they? • What do they sell? • How much market share do they
have? • Why will customers choose your
product or service instead of theirs?
• What are the barriers to entry? • Indirect compe$tors
Compe$$on
• Func$onal Areas-‐ who is responsible for • General Management • Financial Management • Marke$ng • Sales • Human Resources
• Member experience • Outside advisors
Your Team
• Detailed descrip$on of all revenue streams • Product sales • Adver$sing • Licensing • Cost structure
• Salaries, rent, inventory, maintenance
• Also, include names of key suppliers or distribu$on partners
• List & jus$fy assump$ons and provide a jus$fica$on for them
Business Model
Financial Projec$ons
Cash Flow Income & Expense Balance Sheet
The Exit Strategy • How are investors going to recoup investment? • Business Sale? • Going Public?
• Your business has value but you have to prepare to transi$on out • Sale to employees? • Others?
Upcoming Educa$onal Opportuni$es
• BusinessLaunch! • 10 Week Business Planning Class • Starts Feb. 25th • 5:30-‐8:30PM (Tuesdays) • $300/scholarships available
• BusinessPrep! • Ongoing-‐ required for Business Launch! • Self-‐Evalua$on • $10
• Understanding the Healthcare law and the SHOP marketplace for small business • March 5th and 8th • Free
• Other classes listed on our website
Contact us ISED Women’s Business Center
www.isedventures.org 515-‐283-‐0940
[email protected] [email protected]
Facebook: www.facebook.com/isedwomensbusinesscenter Join our newsle\er for informa$on on business opportuni$es,
upcoming classes and other resources.