BLUEPRINT TO SUCCESS

Understanding Business Midterm Presentation

Bob Eccles

What Is A Business Plan?

A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals.

en.wikipedia.org/wiki/Business_plan

A business plan precisely defines your business, identifies your goals and serves as your firm's resume. Its basic components include a current and pro forma balance sheet, an income statement and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make the right decisions.

www.sba.gov/content/what-business-plan-and-why-do-i-need-one

Why Do I Need A Business Plan?

“Just as a home is not built without blueprints or a movie made without a

script, you don’t start a business without a sound and workable

blueprint.”

Smallbizpro.com

What Goes Into A Business Plan?

Executive Summary Mission/Vision Statement Company Summary Market Segmentation/Opportunity

Analysis Market Strategy and Implementation Management and Operations Financial Analysis and Projections Funding Request and Exit Strategy

Why Is A Business Plan So Important?

It helps you determine the viability of your venture on paper before you hit the real world

It will assist in obtaining financing and investments

It provides a blueprint for the future for you to follow that has been thought out, researched and planned

Resources

Small Business Administration (SBA) Small Business Development Center

(SBDC)

Free Business Plan Templates and Information www.bplans.com www.businessplans.org www.planware.org/busplan.htm