business plan by sr mustafa for ea camp 6th june 2008
DESCRIPTION
For startupTRANSCRIPT
By S R Mustafa
Business PlanJSSATE-Science & Technology Entrepreneurs Park
Our Goals for the Course
• Learn to keep your eyes open for new ideas• Develop ways of evaluating ideas (yours and others’) 5Qs• Understand how to develop a business Plan that allows you to document your ideas.• Practice expressing yourself clearly (60-s pitch)
JSSATE-Science & Technology Entrepreneurs Park
Bend it Like Beckham
5 Questions Before Planning
Ask these questions BEFORE somebody else does!
1. How valuable? How painful?Remember, you need to change
somebody’s behavior to buy your product.
2. Business model: Product, Distribution, Location, Technology / Innovation, Service, Brand
3. How many customers are there? (Market size)How many will buy from you? (Market share)Who will be your first customer (besides your Mom)?Who will be your 100th?
4. How are you unique? What do you provide that nobody else can?
5. Location, brand, patent (or other IP), great service, great taste, great fashion sense….
JSSATE-Science & Technology Entrepreneurs Park
• The format of a business plan is the easy part:– We give it to you.– There are lots of places on the web to get
examples.• It’s what you put into it that is important!
– Skill to develop: 5-Questions Assessment• Then, it’s how well you defend your
decisions and assumptions.– Skill to develop: 60-second Pitch
• To justify—TO SELL!—your idea to somebody else.
JSSATE-Science & Technology Entrepreneurs Park
Business Plan, what's to care?
Passion, love, protection
What is Business Plan?
A business plan gives birth to the start-up. It enables the entrepreneur and the team to envision and plan how the business will be run and how funds will be raised. The business plan addresses the needs of both the investors and the entrepreneurs because both have a similar objective – creating a successful business.
*This document is confidential. It is not for re-distribution. JSSATE-Science & Technology Entrepreneurs Park
What Experts says
"In preparing for battle I have always found that plans are useless, but planning is indispensable."
-Dwight Eisenhower
Thirty-fourth President of the United States (1953-1961)
“Those who fail to plan, plan to fail.”-George Hewell
JSSATE-Science & Technology Entrepreneurs Park
Business plans are decision-making tools. There is no fixed content for a business plan
The (very) Basics of a Business Plan
• Executive Summary• Company Overview• Market Environment• Marketing and Sales
Strategy• Operations• Financial Plan
JSSATE-Science & Technology Entrepreneurs Park
Your Business Plan Will...
• Discuss a particular market opportunity.• Examine the markets that you will compete in, and
explain who your customers will be.• Describe the products or services that your company will
provide.• Your competition, and how you will defend against it.• The operation that you will put in place in your company.• The management team that will implement the plan.• The size and profitability of your company.
JSSATE-Science & Technology Entrepreneurs Park
Executive Summary
• The written version of the “60 second pitch.”• Many people who read your plan, will only read your
Executive Summary...• ...and then they may read your financials.• NOT an introduction, but a short version of the whole
plan.
JSSATE-Science & Technology Entrepreneurs Park
Company Overview
• Explanation of history, structure, and organization of your company.
• Strategic direction– Mission statement.– Goals and objectives.– Values and vision.
• People– Relevant skills and expertise of management team.– Directors.– Relationships with experts in the field.
JSSATE-Science & Technology Entrepreneurs Park
Market Environment
• All factors of the market that are outside your direct control:– Market structure– Market trends– Competition– Opportunities/Threats SWOT– Political Atmosphere
JSSATE-Science & Technology Entrepreneurs Park
Marketing and Sales Strategy• Products or services offered.• Follow-on products.• Intellectual property or other defendable
positions.• Market research.• Marketing plan.
– Brand strategy.– Distribution strategy.– Product strategy.– Pricing strategy.– Promotion.
JSSATE-Science & Technology Entrepreneurs Park
Operations
• Practical details required to meet the plan.
• Facilities.
• Manufacturing or out-sourcing.
• Personnel.
Varies widely depending on type of business.
JSSATE-Science & Technology Entrepreneurs Park
Financial Plan
• Three key reports, in a five-year plan:– Income statement.– Balance sheet.– Statement of cash flows.
JSSATE-Science & Technology Entrepreneurs Park
Case Study
Q&A
S R Mustafa#9818249599
JSSATE-Science & Technology Entrepreneurs Park