presented by roger pierce newcomerstartup.com 1. control & freedom no job security anymore ...
TRANSCRIPT
![Page 1: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/1.jpg)
1
How to Prepare a Business Plan
Presented by Roger PierceNewcomerStartup.com
![Page 2: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/2.jpg)
2
Control & freedom No job security anymore Pursue your passion Earn money Change the world
◦2.7 Million self-employed in Canada
Why startup?
![Page 3: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/3.jpg)
3
Focus! Organize your thoughts and actions Raise financing Guide your team Proactive not reactive Determine costs
Why create a Business Plan?
![Page 4: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/4.jpg)
4
1. Clear2. Well-researched3. Short (10 pages)4. Comprehensive5. Proofed by experts6. Written by you7. Updated every 2 years
Ingredients of a great plan
![Page 5: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/5.jpg)
5
Cover Page Business name, contact information
Executive Summary Highlights of the plan (1 page)
Business ProfileYour business objectives Growth expectations and strategy
Ownership and Management
OwnershipManagement and advisors Professional advisors (lawyer, accountant)
Business Environment Analysis
History Industry overviewIndustry position
Marketing Plan
Target market CompetitorsCompetitive advantagesSales and marketing plan
Inside a Business Plan
![Page 6: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/6.jpg)
6
OperationsLocation Equipment/TechnologySuppliersCost centresHuman resourcesSalesCustomer Service/Support
Financial StatementsBalance SheetIncome StatementCash Flow Forecast Financing needs (Startup Budget)Banking arrangements
Personal Financial StatementNet worth Employment history
AppendixResearch reportsFloor plans & diagrams
Inside a Business Plan
![Page 7: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/7.jpg)
7
Creating your plan:
ResearchThinkDecideEnter
![Page 8: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/8.jpg)
8
Passion Ambitions in life Work preferences Personal priorities Your skills
What about you?
![Page 9: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/9.jpg)
9
Personal goals Financial goals What will your business achieve? Who will it serve?
Set goals
![Page 10: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/10.jpg)
10
Research your idea◦Customers
Surveys Interviews Focus Group
◦Competition Industry research Trends
Market Research
![Page 11: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/11.jpg)
11
What you will sell What does it do Benefits Suppliers Price Costs
Product description
![Page 12: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/12.jpg)
12
Where will your business operate Who will run it
◦Hiring employees Processes to make a product or deliver a service
Decide operations
![Page 13: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/13.jpg)
13
Calculate Startup Budget◦Capital costs +◦Operating costs (x 6 months)
Revenue & expenses for financial statements
How much money do you need?
Capital Cost Operating Costs
Equipment Heat
Renovations Telephone
Inventory Wages
Building Advertising
![Page 14: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/14.jpg)
14
Savings Friends & family Banks Investors Gov’t Programs Customers & suppliers
Where you’ll get the money
![Page 15: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/15.jpg)
15
1. Professional advisors (banker, lawyer, accountant, coach)
2. Peer advisors (entrepreneurs, mentors, colleagues)
3. Paid help (employees, suppliers, freelancers)
Who will help you in business
![Page 16: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/16.jpg)
16
When will you open for business Planned promotions First customers Schedules Testing your systems
Launch information
![Page 17: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/17.jpg)
17
Underestimate revenue Overestimate expenses Ask several experts to proof it Spell check Run “what if?” scenarios Leave it, return, edit
Test your plan
![Page 18: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/18.jpg)
18
Canadabusiness.ca Bizpal.ca CFA.ca Entrepreneur.com Enterprisetoronto.com NewcomerStartup.com
Helpful websites
![Page 19: Presented by Roger Pierce NewcomerStartup.com 1. Control & freedom No job security anymore Pursue your passion Earn money Change the world ◦](https://reader035.vdocuments.us/reader035/viewer/2022062801/56649e715503460f94b703f3/html5/thumbnails/19.jpg)
19
How to Prepare a Business Plan
THANK YOU!
Newcomerstartup.com/downloads