Business%20Plan%20Preparation%20Introduction

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Business Plan PreparationIntroduction

• Frank MoyesLeeds School of BusinessUniversity
  of ColoradoBoulder, Colorado

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Tonights Agenda

• BIC TTO concept presentations
• Discuss Concepts
• Introductions
• Course organization syllabus
• Writing a business plan

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Communications
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• Frank Moyes
• frank.moyes_at_colorado.edu
• Office Hours Koelbel 440
• Tuesday 1000 to 1200 noon
• Wednesday 300 to 530pm
• And by appointment
• George Deriso geode_at_usa.net
• Website http//leeds-faculty.colorado.edu/Moyes

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Materials
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• Lawrence and Moyes, Writing a Successful Business
  Plan, 2008 (download from Resource section of
  Instructors website)
• Moyes and Lawrence, Financial Projections Model
  (download from Resource section of Instructors
  website)

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Objectives of the Course

• Understand what is a business plan when to
  write one
• Learn to write a viable business plan
• Experience the process

Everything is vague to a degree you do not
realize till you have tried to make it precise.

Bertrand Russell
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Course Structure

• Weeks 1 Is This a Real Business?, F2F-R
• Week 2 Select concept teams
• Weeks 3 6 Is This a Real Business?
• Week 5 to 12 Introduce sections of the B Plan
• Weeks 4 to 12 In the Fire sessions
• Week 14 Present business plan hand in
• Jan 2009 Competition

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Grading

• Face to Face Research
• In the Fire
• Team Assignments
• Peer Evaluations
• Individual Participation

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Business Plan Sections

• Executive Summary
• Company Overview
• Product/Service Plan
• Market Industry Analysis
• Marketing Plan
• Operations Plan
• Development Plan
• Management
• Competitive Advantage
• Financial Plan
• Funding

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Why Write a Business Plan?

• Road Map
• Establish goals to make sure that are on track
  and heading in the right direction
• Action Plan
• Small steps lead to large results
• Sales Tool
• Attract investors, vendors, customers, partners,
  employees

If we dont have a plan for ourselves, we will
be part of someone elses. Joan Lunden
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A Good Business Plan

• Explains how you are going to do it
• Provides evidence that customers want to buy
• Tells a story - creates excitement
• Addresses the critical elements
• Should be painful to write

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Critical Elements of a Business Plan( You Must
Address)

• Strong market
• Attractive industry
• Compelling Need
• Clear value proposition
• Sustainable competitive advantage
• Understanding of profitability cash flow
• Management

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Why Not Write a Business Plan?

• Lack experience
• Information
• Time cost to get causes too great a delay
• Cant get
• Situation changes too quickly
• Founder has great experience, successful track
  record has a gut feel for the business

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Writing a business plan is a life changing
event.
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Is This a Real Business?

• Objective set the stage
• Face to Face research
• Secondary research
• Present to entrepreneurs investors Week 6 Oct 15

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Discuss Concepts
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Concept Team Selection Process

• ASAP email Business Concept Description as a Word
  attachment to Instructors
• Must have your name concept name in file name
  and on the attachment
• One day later instructor to will approve concepts
• Sept 17 (Wed) Complete formation of teams

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Concept Description

• Brief description
• Why is there an opportunity/need?
• What is the product/service?
• Who is the target market?
• What are the benefits to the target market?
• Who is the competition? Your competitive
  advantage.
• Profitability.

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Assignments for Next Week

• Review MBAX 6100
• Download Writing a Successful Business Plan
• Decide on a concept select team, email
  Instructors for approval
• Hand in F2F-R Step 1 Gut Check