owning and operating a business the business plan
TRANSCRIPT
Owning and Operating a BusinessThe Business Plan
Initial Steps
Before starting a business: See if there is a demand
Market research Develop a business plan
Written description All aspects
What, who, why?? Focus!! Used by potential investors
Venture Checklist
What?Who?Why?Cost?Employees?Physical facilities?Legal documents?Money?
Parts of a Business Plan
Well organized Easy to read Logical 16 essential
parts
Executive Summary
Brief account of key points No more than 2 pages Most important info Compelling story Persuasive Foundational
Management Team Plan and Company Description Presents qualifications Execute business concept Gaps
Provides outline Size, scope, type Success
Product and Service Plan Description Nature of business Unique features Growth potential
Vision and Mission Statements Guiding principles Vision –
Establishes scope and purpose of a company
Reflects values and beliefs Mission –
Specific aspirations of a company Major goals
Bishop Kearney High School Vision Statement:
Bishop Kearney High School is a vibrant community dedicated to providing an environment in which high academic expectations, spirituality, and a strong sense of Catholic community enhance the education of the whole person.
Mission Statement: The mission of Bishop Kearney High School is to
empower young men and women to reach their full potential - academically, spiritually, and socially - by providing a college preparatory, values-based Catholic education in a student-centered family atmosphere, in keeping with the tradition of the Christian Brothers and the School Sisters of Notre Dame.
Go to the Internet -find one company that you do business with and look up their mission and/or vision statement; what do these statements tell you about the company
Industry Overview and Market Analysis Presents research Trends and growth
Customer profile Marketing and sales strategy Geographic, economic,
demographic data
Competitive Analysis and Marketing Plan Advantages Gather information
Web sites Customer interviews Trade shows Articles
Customer awareness Pricing Image Budget Tactics
Operational Plan and Organizational Plan Business processes Production and delivery
People Management philosophy
Go to web and look up definition of philosophy
Form of business
Financial Plan and Growth Plan Forecasts Statements Provides proof
Expansion Plans
To grow and deal with growth