PowerUP

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PowerUP!

• How to Write a Winning Business Plan

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WHY? Write a Business Plan

• To build your business idea into a marketable
  service or product
• To clarify your goals avoid Pitfalls
• To persuade others to invest in your business

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WHAT? Are the Keys to a Good Plan

• Clearly Define your Product or Service
• Know or Research Your Field
• Identify your Advantage
• Develop a Strong Marketing Plan
• Make Realistic Projections

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TIPS to Writing Effectively

• Concise 20 pages
• Convincing what is the unique benefit you offer
  your customers?
• Clear answer the following questions
  Who? When?
• What? Why?
• Where? How?

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Biz Plan Websites

• Business Plan Handbook
• www.referenceforbusiness.com
• Small Business Development Centers
• sbdcnet.org/SBIC/bplans.php
• CCH Business Owners Toolkit
• www.toolkit.cch.com/text/P02_0001.asp

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Start With the Basics

• Use a Cover Sheet with the name of the business
  and team members names
• Number Every Page
• Create a Table of Contents List each section
• Bind One Copy One Copy Unbound

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The Executive Summary

• Highlights the Significant Points
• Creates interest to motivate the reader to
  continue reading the business plan
• Write it Last After you Have Completed Your
  Plan

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Business Description

• Describe the Owner(s) their Experience
• What is the Product or Service you will be paid
  to supply?
• How is the Business Structured Why?
• - Sole Proprietor
• - Partnership
• - Corporation
• What are Your Goals in Starting this Business?
• How will you Finance your Business?

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Resources on Legal Structures

• Findlaw smallbusiness.findlaw.com/business-struct
  ures/
• BizFilings
• www.bizfilings.com/learning/comparison.htm

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Operations

• HOW will you make, distribute, deliver your
  product or service?
• A company can both make a product and deliver a
  service
• Flow Charts Time Lines Can Be Useful
• Different Types of Companies Have Different
  Operational Components

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Retail Company Operations-

• For Example Stores Restaurants
• Location and Space Design is Critical
• Suppliers What are the Product Lines, What are
  the Sales Terms, Are they Reliable?

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Manufacturing Operations

• Do you Need Skilled Labor?
• What About Packaging?
• Space Requirements and Location?
• Will you Contract Out Some or All of the
  Production?
• If not What are your Equipment Needs? Your
  Supply Needs?

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Service Business Operations

• For Example Personal Trainer, Child Care,
  Travel Agent
• Personnel is Key Credentials Skills
• Where Will the Service be Performed Identify
  Space or Equipment Requirements
• Will you Bill by the Project or Your Time?

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MANAGEMENT

• Who Will Handle Which Functions?
• Administrative Support Accounting, Marketing,
  Training May be Out Sourced
• Your Employees How Will You Train Them
  Supervise Them?
• Include Job Descriptions, Resumes of Key Staff,
  Salaries, Organization Chart

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INDUSTRY TRENDS

• Whats Changing in Your Industry and Your Market?
  
• - Technology
• - Distribution Channels
• - Demographics
• Resources
• - Trade Magazines
• - Trade Associations
• - Blogs Websites

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Websites for Industry Info

• SBDC National Information Clearinghouse
• sbdcnet.org/industry.php
• Encyclopedia of American Industries
• www.referenceforbusiness.com/industries
• U.S. Economic Census
• www.census.gov/econ/census02/

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Your Competition

• Companies that Sell to Your Audience
• Research their Products, Marketing Techniques,
  Pricing Strategy, and Market Position?
• What are their Strengths and Weaknesses?

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Company Info

• BPL Business Librarys E-Resources
  www.biz.brooklynpubliclibrary.org
• - Mergent FIS Online for public co.s
• - Reference USA for private co.s
• Thomas Register of Manufacturers
• www.thomasregister.com
• Guide Star - profiles of nonprofits
• www.guidestar.org

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SWOT Analysis

• Internal Factors Your Strengths Weaknesses
• and
• External Factors- Your Opportunities and Threats

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SWOT Analysis Questions

• Strengths Do you have a unique location,
  product, value-added service, expertise
• Weaknesses lack of experience, poor location,
  saturated marketplace
• Opportunities new technology, growing
  population, influx of buying power, competitor
  has closed
• Threats new competition, government
  regulations, changing demographics

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What are the Risks Involved?

• How can you minimize threats and sustain your
  business?
• Contingency Plans (and Exit Strategies??)
• Insurance

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Addendum - Supporting Documents

• Financial Statements
• Resumes
• Quotes or Estimates for Startup Costs
• Photos, Blueprints, Designs
• Sample Logo, Advertising, Brochures
• Supplier Information
• Letters of Intent from Prospective Customers
• Copies of leases of Other Contracts