Summary Lecture 6.3: Authoring the Business Plan

-
31 Flashcards & Notes
33 Students
  • This summary

  • +380.000 other summaries

  • A unique study tool

  • A rehearsal system for this summary

  • Studycoaching with videos

Remember faster, study better. Scientifically proven.

Summary - Lecture 6.3: Authoring the Business Plan

  • 1 No single “right” format


  • • Although business plans and investor presentations tend to cover the same topics, there’s not a universally applicable format 
    • Always check to see if there is a preferred format for a given audience (competitions, grant makers, investors, etc.)
  • 2 Suggested format from SBA


  • What are the 9 elements of the business plan format suggested by U.S. Small Business Administration (SBA)? 
    1. Executive Summary 
    2. Company Description 
    3. Market Analysis 
    4. Organization & Management 
    5. Marketing & Sales 
    6. Service or Product Line 
    7. Funding Request 
    8. Financials 
    9. Appendix
  • 3 1. Executive Summary


  • What are the 9 components of the Executive Summary?
    • The mission statement 
    • History of the business 
    • Names of founders and the functions they perform 
    • Location of business 
    • Description of facilities 
    • Products manufactured/services rendered 
    • Banking and investment relationships 
    • Summary of company growth including financial or market highlights 
    • Summary of management’s future plans 
  • 4 2. Company Description

  • What is a Company Description?
    A High level look at how all of the different elements of your business fit together , including marketplace needs that you are trying to satisfy and your primary success factors 
  • What are some examples of primary success factors?
    – Ability to satisfy your customers’ needs 
    – Highly efficient methods of delivering your product or service 
    – Outstanding personnel 
    – Key location

  • 2. Company Description 

    • High level look at how all of the different elements of your business fit together 
    – Nature of your business as well as primary factors that you believe will make your business a success 
    • Marketplace needs that you are trying to satisfy 
    – Include the ways in which you plan to satisfy these needs using your products or services. Finally, list the specific individuals and/or organizations that you have identified as having these needs.. 

    • Primary success factors (for example): 
    – Ability to satisfy your customers’ needs 
    – Highly efficient methods of delivering your product or service 
    – Outstanding personnel 
    – Key location
  • 5 3. Market Analysis


  • What is meant by industry description and outlook?
    – Description of your primary industry 
    – Current size of the industry 
    – Historic growth rate, trends and characteristics related to the industry as a whole 



  • Why is it important to perform competitive analysis?
    – Identify your competition by product line or service as well as by market segment 
    – Assess their strengths and weaknesses 
    – Determine how important your target market is to your competitors 
    – Identify any barriers which may hinder you as you are entering the market
  • What sort of Regulatory restrictions should you look for? 
    – Current governmental regulatory requirements 
    – As well as any changes that may be upcoming

  • • Industry description and outlook 
    – Description of your primary industry 
    – Current size of the industry 
    – Historic growth rate, trends and characteristics related to the industry as a whole 
    • What life cycle stage is the industry in? 
    • What is its projected growth rate? 
    • What major customer groups are within the industry? 

    • Competitive analysis 
    – Identify your competition by product line or service as well as by market segment 
    – Assess their strengths and weaknesses 
    – Determine how important your target market is to your competitors 
    – Identify any barriers which may hinder you as you are entering the market 

    • Regulatory restrictions 
    – Current governmental regulatory requirements 
    – As well as any changes that may be upcoming 
  • 6 4. Organization & Management

  • How can you illustrate your organizational structure?
    by creating an organizational chart with a narrative description
  • What information should you include when describing ownership?
    – Include legal structure and ownership details 
  • What should you include in Management profiles?
    key people in your company and their backgrounds

  • • Organizational structure 
    – Create an organizational chart with a narrative description 
    • Ownership information 
    – Include legal structure and ownership details 
    • Management profiles 
    – Discuss key people in your company and their backgrounds
Read the full summary
This summary. +380.000 other summaries. A unique study tool. A rehearsal system for this summary. Studycoaching with videos.