business plan karisha devlin agricultural business specialist
TRANSCRIPT
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Business Plan
Karisha DevlinAgricultural Business Specialist
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Agenda Introduction The importance of a business plan Key elements of a business plan Tools Computer time & questions
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What is a Business Plan?
Written document that: Defines your business Identifies your goals and mission Serves as your business “resume”
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Why is a Business Plan Important?
Roadmap for your business Gives you a better chance for success Required by financial institutions Helps communicate goals and objectives Forces you to look at whole business Stimulates development of new/future
business opportunities
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Elements of a Business Plan
Executive summary Farm description Strategic plan Production & operation Marketing plan Personnel plan Financial plan
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Executive Summary
Doorway of business plan A one-page overview of business Placed in the front, but done last Summarize key points Content depends on purpose of plan
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Farm Description
Business type and size Location Facilities History Ownership structure
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Strategic Plan
Mission statement Goals Business Strategy Where you want the business to go
and how to get there SWOT
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Mission Statement
A description of what you and/or your business hope to do and be
Values Vision Purpose
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Goals and Objectives
Goals Dream with a deadline Desired outcomes for your business Short term (within one year) Long term (2-5 years)
Objectives Strategies for reaching goals
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Production and Operation
Crop system Livestock system Other enterprises
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Marketing Plan
Marketing strategy Marketing resources Promotion and distribution Inventory and storage management
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Personnel Plan
Family and hired labor Management team Consultants Personnel management
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Financial Plan
Financial statement Balance sheet Income statement Cash flow statement
Long range projections Projected profitability Capital required Asset management
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Tools
Books Agricultural Business Specialist
Examples Assistance
Software FINPACK Business Plan