professional development programsfp.ucdavis.edu/files/159427.pdfprofessional development program...

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Professional Development Program

Business Plan

Presented by:

Joe Molina

Business Plan

Organizational

Component

Marketing Plan

Components

Financial

Projections

Mission and Vision

Statement

Company description

Structure , Operations and

Management

PRODUCT

COMPETITION

CUSTOMER

Start up Cost – one Time

Projections – 1 Year

PROMOTION

BUSINESS PLAN

PROCESS

Projections – 3 Years

DISTRIBUTION

1 Year Goals

8 SOCRATICHigh Performance

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Reasons for Writing a Plan

To serve as the guide

Lenders and investors

A business plan is the key to Knowing where your Business Stands at all times


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Lenders & Investors

What is the Difference?

What are they looking for?


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What You Need to Know

Before You Write Your Plan

Where Are You Headed? -- GOALS

When Do You Want to Get There? – Time line

What it will take


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The Planning Process

Cover Sheet

Table of Contents

Executive Summary

Part 1: Organizational Plan

Part 2: Marketing Plan

Part 3: Financial Documents

Part 4: Supporting Documents

What are the parts of a Business Plan?


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Part I: Organizational Plan

Summary Description of the Business

Products and/or Services

Intellectual Property

Location

Legal Structure

Management and Personnel

Insurance Considerations


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Part II: Marketing Plan

Overview & Goals of Your Marketing Strategy

Market Analysis: Target, Competition, Trends

Marketing Strategy: (Advertising and Promotion)

Customer Service and Sales

Implementation of Strategy: In-house/Outsourced

Assessment | ROI |Effectiveness

What is the Process?


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The “KEY WORD” Approach

Who

When

Where

What

Why

How

How much

Unique

Benefit to Customer


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Your Marketing Goals

Marketing, sales, advertising, public relations and promotions work together to enhance your image and impact.

So think about the big picture first –

Before you start paying for ad space or running events……….


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Basic Marketing Questions

WHO do you want to appeal to?

WHAT are you trying to sell?

WHERE is your market?

WHEN are your potential customers likely to buy?

HOW can you reach them?


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Marketing Questions….

WHO………….Market and Competition

WHAT………..Quantity & Price

WHERE………Location

WHEN………..Days, seasons

HOW………….Cash, credit, accounts


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Marketing Must

2. Know Your Niche

Define your customers.

Describe demographics /psychographics.


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Marketing Must

3. Create Your Pitch.

Describe your product as benefits.

Make it come alive.

Appeal to individual needs?wants?.


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Marketing Must

4. Price for Profit

Know what your competition is charging all the time.

Include all your expenses to cover your true costs (not only cost of goods).

Don’t forget that your price must cover your cost + your profit.


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Strategies for Success

Customer Alliances Concentrate on customers and quality

Corporate Alliances Build links to large corporations

Flexibility Respond quickly to changing market needs

Geek Speak Use Internet resources


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Part III: Financial Documents

The “Quantitative” Part of Your Plan

Sources & Use of Funds

Tax Documents

Pro forma Financial Statements

Historical Financial Statements

Financial Statement Analysis


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Sources & Uses of Funds

How Much money do you need?

Summary of Financial Needs

Use of Loan Fund Dispersal Statement

How will you spend it?


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Part IV: Supporting Documents

Records that support statements & decisions made in the

organizational, marketing, & financial plans.

Personal Resumes

Owners’ Financial Statements

Credit Reports

Reference Letters

Location Analysis

Legal Documents (Leases, Contracts, Agreements,

etc.

Sources of Demographics and Psychographics


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So, that’s it