business plan writing for young entrepreneurs

年青人如何成功創業2009 年 12 月 16

日

• This document has been prepared by Tsoi Ming To (“Mingles”) solely for use in the visual presentation to a private group of audience. It is not intended for general distribution to the public and may not be reproduced or redistributed.

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E-mail: mingles@entrepreneur.hk

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王允祈 Winki

萬寧電視廣告12-Nov-2009 播出

YouTube > 150,000

Winki 也可能將廣告拍攝變成事業

打工仔 與 老闆在風暴來臨的一天出發

Employee

Praying forhigher signals

Entrepreneur

Prayingforall

signalscancelled

Entrepreneur

Self-employer

Employeemore

less

Different Mindsets• Entrepreneur

– Just do it– Face the failure– 24/7 online– Passionate– Long term– Multi-disciplines– Capital growth– No regret– Achievement > $

• Entrepreneur– Just do it– Face the failure– 24/7 online– Passionate– Long term– Multi-disciplines– Capital growth– No regret– Achievement > $

Employee Don’t make

mistakes Avoid risks Stop and rest Hide away Daily worker Specialized Stable salary Only for money

Employee Don’t make

mistakes Avoid risks Stop and rest Hide away Daily worker Specialized Stable salary Only for money

Employee or Entrepreneur?

• Most people wish to start their business but finding many excuses not to start:

No money Family burden No personal network Not smart enough No time No supporting partners Too risky Too old

Cashflow Quadrant

• Being Employed

• It’s a job

the Cashflow Quadrant is the trade mark of Robert T. Kiyosaki as extracted from the book, Rich Dad’s Guide to Financial Freedom

Self employed

It’s your own job

Start your business

Someone work for your

Invest your money

Money works for you

TM

Can you be an entrepreneur?Two sets of basic skillsTwo sets of basic skills

1. Are you willing to start and take the risks?

Entrepreneurship, French word“to undertake” ; “to do things with your own hands”

A startup must have a lot of risks.

It’s not for someone who want safe and stable payroll

2. Can you sell?No resources but your idea and presentation devices

Be able to organize your idea, then sell it to yourfamily, friends and anyone else

Created by Kevin Au of the CUHK Center for Entrepreneurship

What is Entrepreneurship?

Created by Kevin Au of the CUHK Center for Entrepreneurship

To pursue opportunitywithout regard to resources currently in hand

opportunitya market, preferably large and fast growing

resources currently in handentrepreneurs find resources

as they pursue the opportunityvs.

managers look at the amount of resources at hand and decide what opportunity to pursue

In-born Entrepreneur• A desire to achieve• Hard work• Nurturing quality• Acceptance of responsibility• Reward orientation• Optimism• Orientation to excellence• Organization• Profit orientation

extracted from Business Horizons, Sep-Oct 1986 edition, by John G. Burch

TimingTiming

Acquired Entrepreneur

extracted from Business Horizons, Sep-Oct 1986 edition, by John G. Burch

OpportunitiesOpportunities

PeoplePeople

InformationInformation Access to capitalAccess to capital CompetitionCompetition

Life style Entrepreneurs

• 1 to 2 times of growth in 10 years• The entrepreneur spotted a “pain point”, an under-served

market, and developed an independent business based on personal skills and knowledge

• The entrepreneur runs the firm in a way that suits his life style and interest, earns good money, and shows little interest to grow the firm

Created by Kevin Au of the CUHK Center for Entrepreneurship

Life style EntrepreneurLife style Entrepreneur

Life style EntrepreneurLife style Entrepreneur

Life style Life style Entrepreneur? Entrepreneur? NoNo

Foundation Entrepreneurs• Thomas Neir, Founder of Pacific Coffee

– He was transferred to HK as a regional financial manager. Coffee at that time was from fast-food shops and instant coffee package. People had a hard time finding quality coffee.

– He opened his first store at the Bank of America Tower, Central, in 1993

– Tom is not a life style entrepreneur becausehe opened 3 more shops in 1994, andgrew Pacific Coffee to be sold at$200M+ in 2005

Created by Kevin Au of the CUHK Center for Entrepreneurship

• 5 times in 5 years; 10-30 times in 10 years (see diagram)

• The founder are able to scale up their business to reap a much larger benefit

• This kind of entrepreneurship contributes more to the society in creating jobs and other economic impact

• All college graduates should go beyond life style entrepreneurship

Foundation Entrepreneurs

Created by Kevin Au of the CUHK Center for Entrepreneurship

Hi-growth Entrepreneurs• 10 times in 5 years; 100-300 times in 10 years• The founder usually opens up a new market or industry

– YouTube, Yahoo!, Blackberry, Tencent (QQ)

• Many people ask how they can predict the future. They ask the wrong question because

The only way to predict the future is to create one yourself!

Created by Kevin Au of the CUHK Center for Entrepreneurship

Entrepreneurs from Occupation

• Athlete– 李寧– 李寧有限公司(Li Ning Co. Ltd.)

– lining.com

• Doctor– 曹貴子– 康健醫務中心(Town Health Centre)

– townhealth.com

Sports Medical

香港本地個案分析倚天香港有限公司衡睿有限公司

個案一倚天香港倚天香港

紀念品設計生產

Eva 以往是從事會計的工作，而 Andrew是在加拿大唸電腦工程的，兩人原本跟紀念品市場沒有關係的。

於是兩人就產品設計、定價、目標客戶群、供應商等方面進行更全面的資料搜集，因而建立了以雨傘為機構宣傳紀念品的獨特經營模式。

在一次偶然的機會，一位由日本回來的朋友，返香港順道帶來一些很好質料的雨傘，令兩位年青人著迷。

經過一番資料搜集、市場分析後，發現以雨傘為紀念品的市場，暫時仍未有很多競爭，而且以較傳統的模式經營，缺乏設計心思，訂單額亦要求較大，售後服務欠缺。

• 雨傘，其實是流動的宣傳工具，比較起日曆、筆座等文具有更佳的曝光率。

• 而且張開的雨傘，面積較大，容易吸引注意，亦擁有更大的設計空間。

• 質量好的雨傘較耐用，宣傳的訊息更長久，亦是品牌的優質象徵。

「香港青年創業計劃」最後批出 HK$90,000 貸款給倚天香港， Eva 及 Andrew 亦自行籌組 HK$90,000 資金。

經營一年後，已吸引一些跨國公司垂青，如銀行、化妝品、汽車公司等的訂單。

由於雨傘是季節性的用品，所以「倚天」亦開展其他類別的紀念品市場，如頸繩、水晶、購物袋及筆等。

「倚天」的目標，是希望能成為類似利豐集團的模式，以創意設計及高效率的營運，成為專門化的紀念品設計生產公司。

個案二衡睿

回收及環保顧問

一位在香港大學唸環境工程，另一位在科技大學唸環境科學，兩位都是本地大學的碩士畢業生，原本是安穩地在機構任職工程師，但覺得身為年青人，應創一番事業。

滿腦子都是創業的點子，但始終不是很熟悉其他市場，唯獨是環保工業，是兩人的專業知識。

於是兩位年青人專心鑽研環保市業在香港的發展空間，發現垃圾其實都是很值錢的東西。雖然有了目標方向，但欠缺啟動資金。

有一天， Felix在家吃飯時，看見墊底的報紙刊載了「香港青年創業計劃」的資料，之後與 Alex 商討，在截止申請前兩星期才報名參加，並開始撰寫計劃書。

• 回收垃圾是一門資本投入較多的生意，一些設備動輒也是十多萬元。

• 雖然「香港青年創業計劃」最終只能批出 HK$80,000 貸款給衡睿，但是因為得到這項鼓勵，令 Alex及 Felix更有決心自行籌組資金。

• 重大的設備投資，包括壓縮垃圾機、貨車等重型機械。

• 「衡睿」的目標，是希望把環保的知識普及，加強環保措施的效益，為改善環境污染盡力。

• 公司名稱的解讀Eco = ecology = 生態Sage = wisdom = 智慧

開創事業的準備清單

開展業務前• 檢視自己的優勢、強項及弱點

– 以十個Ｄ來評估自己的人格特質

Dream ( 理想 ) Devotion ( 熱愛 )

Decisiveness ( 果斷 ) Details ( 周詳 )

Doers ( 實幹 ) Destiny ( 使命 )

Determination ( 決心 ) Dollar ( 金錢觀 )

Dedication ( 奉獻 ) Distribute ( 分享 )

source from William D. Bygrave, director of Babson College’s Center for Entrepreneurial Studies

• 評估自己對創辦事業的必要條件– 專業技能– 對產品／服務的市場認知– 經營及管理能力– 財務能力– 毅力及魄力

• 營業模式及策略– 銷售對象、場所、市場調查

• 風險評估• 草擬業務計劃• 起動資金預算

開展業務前

• 按有關法例成立公司及領取營業執照• 銀行帳戶開立• 聘用人員及遵循相關法規• 合適的保險計劃• 覓識法律、會計及財務的專業人士• 具體化執行業務計劃• 信貸與集資的途徑

開展業務前

• 發掘開發更好的供應商• 發掘開拓客戶的渠道• 成本控制• 技術改良

開展業務前

Processof

Business Planning

andPitching

Ideas

Writing

Business model

Presentation

Visualization of Ideas

The Back of the Napkinby Dan roam

www.thebackofthenapkin.com

The Back of the Napkin, by Dan Roam

The Visual Thinking Toolkit

The S.Q.V.I.D.

A practical tool of applied imaginationThe Back of the Napkin, by Dan Roam

Business Model Design

Nine Blocks of Business Modelby Alex Osterwalder

www.businessmodeldesign.com

Mapping Story & Model

VALUEPROPOSITION

KEYACTIVITIES

COSTSTRUCTURE

KEYRESOURCES

PARTNERNETWORK

DISTRIBUTIONCHANNEL

CUSTOMERRELATIONSHIP

CUSTOMERSEGMENT

REVENUESTREAMS

infrastructure customer

finance

offer

Company's POV Customer's POVProduct's POV

VALUEPROPOSITION

KEYACTIVITIES

COSTSTRUCTURE

KEYRESOURCES

PARTNERNETWORK

DISTRIBUTIONCHANNEL

CUSTOMERRELATIONSHIP

CUSTOMERSEGMENT

REVENUESTREAMS

infrastructure customer

finance

offer

Outlining the capabilitiesrequired to

run a company'sbusiness

model

Portrays the network of

business partners

Describes the arrangement of

activities & resources

Gives an overall view

of a company’sbundle of products

and services

Relationship established

withcustomers

Channels to reach

customers

Customers targeted by the

company to offervalue to

Sums up the monetary

consequences torun a business

model

Describes the revenue streamsthrough which

money is earned

Nine Building Blocks

• Value proposition: The bundles of products and services that satisfy our customer segments’ needs

• Customer segments: Our groups of customers with distinct characteristics.

• Distribution channels: The channels through which we communicate with our customers and through which we offer our value propositions.

• Customer relationships: The types of relationships we entertain with each customer segment.

• Key resources: The key resources on which our business model is built.

• Key activities: The most important activities performed to implement our business model.

• Partner network: The partners and suppliers we work with.• Revenue streams: The streams through which we earn our

revenues from our customers for value creating and customer facing activities.

• Cost structure: The costs we incur to run our business model.

Definition of the Nine Building Blocks

Drawing of Business Model

Writing Business Plan

Key Topics & Planning Process

Key Topics of Business Plan (1)

Business overview• 1 to 3 pages

Management Team• Bios, resume, personal profile with achievement

Market• Economics and industrial analysis, logical but simple to

understand

Key Topics of Business Plan (2)

Product• Feature and specification addressing “What” & “Why”

Business Model• The Nine Blocks

Strategic Relationships• Uniqueness and secret between you and the suppliers

and customers

Key Topics of Business Plan (3)

Competition• Identify direct and indirect competitors

Barriers to Entry• Any strengths to support you are better than others

Financial Overview• Cash flow vs Profit & Loss, and Balance Sheet• Major figures are sufficient

Key Topics of Business Plan (4)

Use of Proceeds• How and when you spend money

Capital & Valuation• Requiring forecast with substance• Discounted Cash Flow (DCF) approach

Company Logo & Stylesheet• Match your style with arts

Effective Presentation

Pitching to VCsby Davod S Rose

www.ted.com search “david rose”

Elements of Selling• Integrity• Passion• Experience• Knowledge• Skill

• Leadership• Commitment• Vision• Realism• Coachability

Logical progressionThings easily be known or understood

Validity and Viability

Elements of Selling

Good• Short, short bullet points

Better• Just the headline

Best• Only images (diagram, charts, photos)

Ten Slides Approach

1. Problem 2. Your solution 3. Business model 4. Underlying magic/technology 5. Marketing and sales 6. Competition 7. Team 8. Projections and milestones 9. Status and timeline 10. Summary and call to action

10-20-30 Rule of PowerPoint

• A PowerPoint presentation should have– ten slides,– last no more than twenty minutes, and – contain no font smaller than thirty points.

Cover Slide

• Company name, location, tagline, presenter’s name and title.

Intro Slide

• Team

Slide 1

• Company Overview

Slide 2

• Problem/Opportunity

• Problem/Opportunity Size

Slide 3

• Solution

• Delivering the Solution

Slide 4

• Benefits/Value

Slide 5

• Secret Sauce / Intellectual Property

Slide 6

• Competitive Advantage

• Competitive Advantage Matrix

Slide 7

• Go to Market Strategy

Slide 8

• Business Model

Slide 9

• Financial Projections

Slide 10

• Financial Requirements/Milestones

Slide 11

• Summary Slide

Thank You

Mingles Tsoi

www.entrepreneur.hk