The idea of owning running a business is exciting and can be very rewarding. However, becoming a successful business owner can also be very challenging. It requires the right mindset, perspective, attitude, traits & know-how.
Our Free Business Training is designed to give you an insight into what it means to own a business and provide you with the basics to get you started off on the path to success.
This compact but complete 10 session program will cover topics from accessing if business ownership is the right path for you, planning, opening your business to growing and expanding.
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Writing Your Business Plan
1. Welcome
To Our
Free Business Training Webinar
Writing Your Business Plan
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 1
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2. T
r
Training Overview
a
i Topics
n
Is Business Ownership For you?
i
n Writing Your Business Plan
g
Business Organization
Registration, Licenses, Permits Insurance
O
v
Business Finances & Financing
e Business Location
r Tools, Technology & Equipment
v Staffing
i Marketing & Opening
e Growing & Expanding
w
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 2
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3. W
e Writing Your Business Plan
e
k What is a Business Plan?
T
Why Write A Business Plan?
w
o
How Can A Business Plan Be Used?
T
o Anatomy of A Business Plan
p
i
Steps To Writing Your Business Plan
c
s
What To Do / What Not To Do
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 3
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4. W
What Is A Business Plan?
h
a
t
? “…a formal statement of a set of business goals, the reasons they are believed
attainable, and the plan for reaching those goals” wikipedia.org
“…a document that precisely defines your business, identifies your business
objectives, describe your strategies to reach the business objectives, and includes
key financials such as balance sheet and a profit and loss statement” Susan
Urquhart Brown, Author of An Accidental Entrepreneur
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 4
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5. W
Why Write A Business Plan?
h
y
? To help you focus on clarifying and defining your objective and strategies
To objectively access viability of your business
To help you prioritize
To help identify errors, omissions, weaknesses
To help in making better business decisions
Increase your chance of success
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 5
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6. H How Can A Business Plan Be Used?
o
w
To chart a road map for a new business venture
?
Managing an existing business
Growing & expanding
Monitoring progress
Selling / buying and existing business or franchise
Presenting to banks, investors or potential partners
Putting together a team
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 6
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7. F Anatomy Of A Business Plan
o
r
m
No universal format
a
t However, certain elements are expected to be included to be considered complete
Items do not have to be created in any specific order
Clear, professional and readable
Keep it simple
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 7
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8. M Anatomy Of A Business Plan
a
i
n Title Page Products/Services
C Table of Contents Marketing & Sales Plan
o
Executive Summary Operational & Management Plan
m
p
o General Company Description Financial Plan & Projections
n
e Market Research Appendix
n
t
s
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 8
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9. T Anatomy Of A Business Plan
i
t Title Page
l
e The title page identifies your business and should generally include the date of the
plan, business and contact information such as business address, telephone number
P as well.
a
g
e
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 9
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10. T Anatomy Of A Business Plan
a
b Table of Contents
l
e Accurate guide to pages/sections in your plan. Keep to one page if possible
o
f
C
o
n
t
e
n
t
s
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 10
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11. E Anatomy Of A Business Plan
x
e Executive Summary
c
u One to two pages of clear, concise and to the point snapshot of your business concept
t and viability. It is usually written at the end when all the information, research numbers
i have come together.
v
e
If seeking funding, you should be more specific and state how much you need, how the
money will be used
S
u
m
m
a
r
y
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 11
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12. C Anatomy Of A Business Plan
o
m General Company Description
p
a The high level overview of your company which may including:
n
y Mission Statement
D Company Objectives
e Why YOU are in business
s
Skills and experience you bring to the table
c
r Overview of Your products/Services
i Keys to success
p
t
i
o 1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 12
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13. M Anatomy Of A Business Plan
a
r Marketing Research
k
e The general business industry you operate / will be operating in
t
Your target customers
R The Competition/Competitive Analysis
e SWOT Analysis
s
e
a
r
c
h
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 13
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14. P Anatomy Of A Business Plan
r
o Products/Services
d
u Details of Your products or services
c
t Your USP (unique Selling Points)
s Features & Benefits
/
Positioning in market
S
e Stage
r Sourcing
v
i
c
e
s
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15. M Anatomy Of A Business Plan
a
r Marketing & Sales Plans
k
e Delivery channel
t
i
Pricing Strategy
n Advertising and Promotions
g
Sales Plan
& Sales Forecast
S
a
l
e
s
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 15
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16. O Anatomy Of A Business Plan
p
s Operational & Management Plan
& Depending on your type of business, this section may include:
M Location & Facilities
a
Production, Inventory & Break-Even Point
n
a Equipment & Technology
g Records Keeping systems
e
m Legal Business Structure
e Management & Personnel
n
Business Advisors (Accountant, Lawyer, Tax Advisor etc)
t
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 16
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17. F Anatomy Of A Business Plan
i
n Financial Plan and Projections
a
n This can include:
c
i Personal Financial Statement
a
Start Up Expenses and Capitalization
l
s Cash Flow Projections and Assumptions
Loan Requests
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 17
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18. A Anatomy Of A Business Plan
p
p Appendices
e
n All supporting documents such as:
d
i Statistical Analysis
c Forecast, Cash Flow Projection, Competitive Analysis sheets and charts
e
s
Copies of legal documents and agreements
Marketing material
Key employee resume(s)
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 18
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19. S Suggestions When Writing Your Business Plan
u
g
g Be flexible
e Identify deal breakers/killers
s
t Don’t plan too far out
i Get a loan for the amount you need but include a cushion for contingencies
o
Be clear on your key success factors
n
s Test and refine your business model and plan before you expand
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 19
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20. D What To Do / What Not To Do
o
s
Do Don’t
a be overly optimistic or pessimistic
prepare a clear and complete plan
n
present your business plan nicely underplay weaknesses
d
conduct a details research under estimate competitors
D ask experts for their advice. pin your success entirely on your USP
o frequently modify your business plan try to serve everyone
n to account for changing conditions.
’
t
s
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 20
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21. E
n
d
Thank you
o
f
Next Week
W
e
Business Organization
e
k
T
Have a great weekend!
w Visit our blog for online tools and resources
o
www.baanabaana.com
1/11/2013 Free Online Business Training - Week Two - Writing Your Business Plan 21
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