Strategy and Entrepreneurship:

1
Strategy and Entrepreneurship
The Elements of a Successful Business Plan

• Wayne Smith, Ph.D.
• wayne.smith_at_csun.edu
• Department of Management

2
Entrepreneurship and Intrepreneurship

• Stanford Entrepreneurial Thought Leader
  webcasts/podcasts
• http//ecorner.stanford.edu/podcasts.html
• (but thats just more passive, academic study)
• We need to do the hard work too
• That is, lets design our success
• And for that, we need funding
• And for funding, we need a plan

3
A Business Plan (1 of 2)

• Executive Summary
• Overview of business purpose and highlight of key
  elements of the plan
• Company Description
• Mission, Owners, and legal form
• Industry Analysis
• Nature of the Industry, including economic
  trends, important legal or regulatory issues, and
  potential risks
• Market Description
• Size of market, competitor strengths and
  weaknesses, and five-year sales goals
• Products and Services Description
• Major Goods or Services, with special focus on
  uniqueness vis-à-vis the competition

4
A Business Plan (2 of 2)

• Operations Description
• Manufacturing or Service methods, supplies and
  suppliers, and control procedures
• Staffing Description
• Management and staffing skills needed and
  available, compensation and human resource
  management systems
• Financial Projection
• Cash flow projections for one to five years
• Capital Needs
• Amount of funds needed to run the business,
  amount available, amount requested from new
  sources

5
Relative Importance

• Very Short-run (1-6 months) (the pitch)
• Products and Services Description
• Market Description
• Short-run (6-12 months) (survival)
• Financial Projection
• Company Description
• Long-run (1-5 years) (flourish)
• Capital Needs
• Operations Description
• Staffing Description
• Very long-run (5-15 years) (compete)
• Industry Analysis

6
CSUN Resources

• Ryan Holbrook (Entrepreneurship Program Director)
• Office JH4209
• Phone [phone]
• Email ryan.holbrook_at_csun.edu
• www.csunbullring.com
• Dr. Lois Shelton (Program Director,
  Entrepreneurship minor)
• Office JH4206
• Phone [phone]
• Email lois.shelton_at_csun.edu
• LA CI (pronounced lacey)
• http//csun.laci.org/
• Student Club (coming soon)