efactor - business plan writing
DESCRIPTION
Business Plan Writing - A Roadmap to Success Author : Eva Hukshorn, partner EFactor http://www.efactor.comTRANSCRIPT
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Business Plan WritingA Roadmap to Success
Author : Eva Hukshorn, partner EFactor
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1. Efactor is a Smart Network that matches entrepreneurs with the very people who can help them grow
2. Finding Business Partners: from partners to investors, from coaches to customers3. Largest Entrepreneurial Network in the World with 1mio members in 185
countries4. An online community Offering you a network, knowledge, events, and every
business resources you need to succeed @ discount!5. GO Online, fix your personal profile & company profile and get MATCHED!
It’s not about connections - it’s about the right ones…
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A Solid Business Plan is Important : Luck is For The Unprepared!
Business Plan = Guidebook for the Founder
Business plan: learn to Live & Breath your company, market and customers.
Business plan as a tool:• Systematic approach for mapping your idea• Focus• Entry strategy• Identifying gaps: knowledge, experience, specialists• Checklist of resources• Communication tool• PracticeBusiness plan is for YOU and YOUR SUCCESS!
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Some Basic Ingredients to Start a Successful Company
3 Key Elements of Life: Ideas, People and Money
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Take a Different Approach, Become Your Own Investor
You are the biggest investor of them all!
• Your own investment does not consist only of time spend
• Become as critical as your external investors would be
• Your Team is as important as your idea
• Money is the end-game of the investor, so is yours
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Evolution of Your Startup Life
9-12 months Preparation Before Launch
YOUR IDEA• Time Spend: 6-9 months• describe the problem you are solving for whom• Test for outside interestYOUR BUSINESS PLAN• Time spend: 2-3 months• details of the execution process• 5 years, 3 phases, 1st phase 18 months explicitYOUR COMPANY• Time spend: ?• Structure tasks, weekly, monthly• Success = old investors out, new investors in
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Content to Cover in Your Founder’s Guidebook
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Your Idea: Preparation
Problem to be solved
Target group
Need by target group
Unique selling point
Technical details
Comparable product competitors
Superiority of your product
Duplicable
Protection
Costs of production
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Your Idea: Business Plan Content
1. Illustrate & quantify
2. Content:1. Name of product or serve2. Name of founder3. Illustration of product or serves4. Description5. Benefit6. Unique selling point7. Protection8. Description target group & market9. Revenue model
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Marketing & Sales: Preparation
Competitive advantage
Competitors
Substitutes
Describe customer
Choice target segment
Size market
Market share
Market price
Communication
Distribution
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Marketing & Sales : Business Plan Content
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Marketing & Sales : Business Plan Content
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Management Team: Preparation
Members & Responsibilities
Credentials
Founders
Skills
Missing skills
Expansion
Motivation
Advisors
Contracts
Operational procedures
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Management Team: Business Plan Content
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Organization : Preparation
Business model and supply chain
Activities in-house
Activities outsourced
License
Main focus business model
Organization chart
Team expansion and costs
Corporate culture
Picking partners
Your added value
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Finance : Preparation
Assumptions
Cash flows next 18 months
Cash flow next 3-5 years
Profit & Loss next 3-5 years
Balance sheet next 3-5 years
Ratio’s & drivers
Break-even point
Capital need until break-even
Capital need best-case
Capital need worst-case
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SWOT Analysis : Know Thyself
INTERNAL : Strength & Weakness EXTERNAL : Opportunities & Threats
• Resources: financial intellectual• Customer service• Efficiency• Competitive advantages• Infrastructure• Quality & price• Delivery Time• Costs• Capacity• Personnel / management• Organizational structure
• Political• Legal• Economic condition market• Expectations of stake & shareholders• Technology• Public expectations• Competitive environment• Barriers to entry• Commodity prices• Amount of customers• Structure of suppliers
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Funding : Preparation
Capital need until break-even
Capital in up- & downside case
How many funding rounds
Own funds available
External funds needed
Deal: money versus equity/debt
Terms & conditions
Investor type
Return on investment
Exit
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A Summary of Your Vision and Strategy : Your Milestone Overview
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Conclusion & Final Remarks
CONTENT & QUESTIONS for preparationDon’ts:
1. Quick validation2. Sales most relevant3. Delete trial balloons4. Wrong audience5. Advisor plague6. Poor understanding financials7. Poor understanding product8. Underestimate competition9. Low pricing strategy10. Under-define capital requirementsDO: BE PREPARED!!
Next webinar =July 3: Pitching
& Presentation –3 Minutes, 1 Impression
Business plan writing = Roadmap to success!
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Visit Nowhttp://www.efactor.com/
https://www.facebook.com/efactorhttp://www.twitter.com/efactor
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This document was prepared by Eva Hukshorn. Several people and organizations have inspiredher to write this presentation, amongst which are, but not limited to the Founders of Efactor,
McKinsey & Company/New Venture, BiTs, ABN AMRO/RBS
Thank You!