writing the best business plan - asi.ucdavis.edu · 1.lean planning canvas 2.one page business plan...
TRANSCRIPT
![Page 1: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/1.jpg)
Writing The Best
Business Plan
with Keith Holtaway
![Page 2: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/2.jpg)
Today’s Agenda
Reasons for Planning
3 Planning Methods
1.Lean Planning Canvas
2.One Page Business Plan
3.Traditional Planning
Finances
Resources
![Page 3: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/3.jpg)
Reasons for Planning
?
![Page 4: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/4.jpg)
? Get money
Provide direction
Create metrics
Get a lease
*Create a business model that works*
![Page 5: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/5.jpg)
Lean Planning Canvas
What is it?
A tool that supports the
business development cycle
Build - Measure - Learn
![Page 6: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/6.jpg)
Lean Planning Canvas
# 1…Customers
Target customers… early adopters…
not eventual mainstream customers
![Page 7: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/7.jpg)
Lean Planning Canvas
#2…Opportunity/need/niche/pain…
in the marketplace
![Page 8: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/8.jpg)
Lean Planning Canvas
#3…Solution
The product or service you are creating
![Page 9: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/9.jpg)
Lean Planning Canvas
#4…Unique Value Proposition
Why is what you are selling different and
worth buying?
![Page 10: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/10.jpg)
Lean Planning Canvas
#5…Channels
How do your early adopters get their information?
![Page 11: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/11.jpg)
Lean Planning Canvas
# 6…Revenue Streams
Where’s the money coming from?
![Page 12: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/12.jpg)
Lean Planning Canvas
#7…Cost Structure / Expenses
Where is the money going?
![Page 13: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/13.jpg)
Lean Planning Canvas
#8…Key Metrics
Retention
Revenue
Referrals
![Page 14: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/14.jpg)
Lean Planning Canvas
#9…Unfair Advantage
“A real unfair advantage is something that
cannot be easily copied or bought”
Jason Cohen, A Smart Bear blog
![Page 15: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/15.jpg)
Lean Planning Canvas
9…Unfair Advantage…Examples:
Insider Info
A Dream Team
Large Network
Community
Existing Customers
SEO Rankings
Really Low COGS
![Page 16: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/16.jpg)
One Page Business Plan
Methodology: 5 Simple Questions
Vision What are you building?
Mission Why are you building it?
Objectives What results will you measure?
Strategies What will make your company
successful over time?
Action Plans What is the work to be done?
![Page 17: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/17.jpg)
One Page Plan
Vision Statement
Answers the question…What are you building?
Complete your vision statement…5 minutes
![Page 18: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/18.jpg)
One Page Plan
Mission Statement
What is your promise to the world in 6 to 8 words
“The World Overnight”…
“Logistics”…
“Satisfaction Guaranteed or your money back”…
![Page 19: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/19.jpg)
One Page Plan
“People don’t buy what you do, they buy
why you do it” Simon Sinek
![Page 20: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/20.jpg)
One Page Plan
Objectives
What results will you measure?
Specific
Measurable
Attainable
Realistic
Timely
![Page 21: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/21.jpg)
One Page Plan
Objectives
Verb + Noun + From + To + By
= Objective
8 to 9 objectives only
Increase sales from $250k to $425k by
YE (year end) 2018
![Page 22: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/22.jpg)
One Page Plan
Strategies
How will I grow and manage this business,
Formula
Verb + Noun + How + How + How
Example
Increase profit by tax planning, technology, cost management
![Page 23: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/23.jpg)
One Page Plan
Action Plans
What is the work to be done?
Description of work + deadline=
action plan
Create product list by 4/30, finish costing by 5/15,
rollout line for sale by 6/1
![Page 24: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/24.jpg)
Traditional Plan
A Narrative
8-10 pages max
Executive Summary and the revenue &
expense projections are key components
Financial projections usually done for 3
years…month by month
![Page 25: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/25.jpg)
Traditional Method
Mission Statement
Business Concept
Goals
Competitive Analysis
Marketing Plan
Operations
Management
Executive Summary
Financials
![Page 26: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/26.jpg)
Financials
For Start-ups
Start-Up Expenses
Revenue Projections
Cash Flow Projections
Break-Even Analysis
Opening Day Balance Sheet
For Existing Businesses
Profit and Loss Statement
Balance Sheet
![Page 27: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/27.jpg)
Financing Options
Commercial Loans
Crowd Funding/sourcing
Government Guarantee Loans (SBA)
Friends and Family
Personal Savings
Credit Cards
![Page 28: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/28.jpg)
Bank Loan
The 5 “C’s” of Credit
Cash..............20-30% of total loan request depending on
the type of loan
Credit............Credit Score of 680 to 700 minimum
Collateral......To cover 100% of the loan
Character......Your experience & who you are as an
individual
Conditions... The outside factors that will be considered,
such as competition and trends of similar
businesses in the industry
![Page 29: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/29.jpg)
Bank Loan
Basic Loan Package
Business Plan: 8 -10 pages of narrative and cash flow
projections for 3 years month by month
Current personal financial statement
3 years of personal income tax returns
Bank loan application form(s)
Resume, (if not included in plan)
Lease (if applicable)
![Page 30: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/30.jpg)
Crowd Funding
Donation / Gift Format
Kickstarter
Indigogo
Gofundme
Equity Format
Upstart
![Page 31: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/31.jpg)
Checklist to launch
1. Complete Business Plan
2. Complete a Request for Services from the SBDC,
www.santacruzsbdc.org to see an Advisor, free of charge
3. Set up your legal business structure
4. Secure financing
5. If appropriate, find a location & secure a lease
6. Get the necessary licenses & permits & a Fictitious Business Name
7. Find out about State & Federal Tax ID information
8. Get insurance, “key man,” liability, etc.
9. Establish a bookkeeping system
10. Open bank accounts
11. Develop an H/R system if appropriate
12. Start pre-opening marketing...Facebook, Social Media, e-mail
newsletters (Constant Contact etc.), website, according to marketing
plan
![Page 32: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/32.jpg)
Resources
– State of California www.calgold.ca.gov
– www.gobiz.ca.gov
– www.business.ca.gov
– www.opencounter.cityofsantacruz.com
– Small Business Administration: www.sba.gov
– www.santacruzscore.org
– Top Startup blogs – www.topblogs.onstartups.com
– Tools for your business -www.zoho.com
– Free credit report – www.annualcreditreport.com
– Legal Information - www.smallbusiness.findlaw.com
– www.nolo.com
![Page 33: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/33.jpg)
Resources
“Art of the Start”... Guy Kawasaki
“One Page Business Plan”... Jim Horan
“E-Myth Revisited”... Michael Gerber
“The Lean Startup”...Eric Ries
“Running Lean”…Ash Maurya
“Start With Why”…Simon Sinek
Wired
Entrepreneur
Fast Company
SethGodin.com
Charlie O’Donnell…Feedblitz.com
![Page 34: Writing The Best Business Plan - asi.ucdavis.edu · 1.Lean Planning Canvas 2.One Page Business Plan 3.Traditional Planning Finances Resources . ... Complete your vision statement…5](https://reader034.vdocuments.us/reader034/viewer/2022050211/5f5d7f76e0a67d19f67a60eb/html5/thumbnails/34.jpg)
To request service from
The Santa Cruz Small Business
Development Center please fill out
the short application found at
www.santacruzsbdc.org
(831)479-6136