1.
Agenda
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Introductions: Name &Business/Industry

2.
What is the PURPOSE
of a Business Plan?
TOP 4 REASONS TO COMPLETE YOUR BUSINESS PLAN
1. Road Map
2. Clear Vision of your Business
3. Clear Understanding of Roles & Needs
4. Gain Financing or Office Space

3.
Why Should YOU Write
a Business Plan?
TOP 4 REASONS TO WRITE A BUSINESS PLAN
Write to Sell Yourself on the Business
May Save You Grief and Expense
May Show You Another Alternative
First Plan Is the Toughest

4.
What has kept you
from completing
YOUR Business Plan?
TOP 4 REASONS YOUR BUSINESS PLAN IS NOT DONE
1. Time
2. Not Sure What to put in the Plan
3. Not Comfortable with the Financials
4. Didn’t Feel Like you NEEDED a Plan

5.
Business Plan in 10 Steps

6.
Assess Your Business Idea
What Would a Lender or Investor Want to Know
About - Owner, Business, Community?
Planning Process Starts with
Goals Both Business & Personal

7.
Step 1
Executive
Summary

8.
Name of Your Business
 Create a name or reevaluate the
name of your business.
 Does it integrate well with what you
are selling?
 Is it easy to spell and remember?
 Is it a name that can be well
branded over time?

9.
Forecasting for the Future
What will your business look like 5 years
from now?
Employees
Expansion
Company Goals

10.
Step 2
Mission
Statement

11.
Mission
 Defines what your business does.
What activities it performs?
What is unique about your business?
Stands out from competitors.
Why are you necessary?

12.
Step 3
Company
Background

13.
Background
 Education
Experience in the field
Years Established
Management Team

14.
Step 4
Product
Description

15.
Product/Service Description
• What do you sell?
• Write a description.
• What are you top 3
products/services
based on revenue?
• How much are your
products?

16.
Marketing
Plan
Step 5

17.
Marketing Plan
Traditional Marketing
• Word of Mouth
• Flyers /Brochures
• Business Cards
• Newspaper/Magazines
• Billboards
• Website
• Print Newsletter
• Mail
Future Oriented Marketing
• Social Media
• Text Messaging
• Mobile App
• Mobile Site
• Landing Page
• Videos
• Email Newsletter
• Online Newspapers
Choose 3

18.
Competitive
Analysis
Step 6

19.
Competitive Analysis
Library Databases
• Reference USA
• Simply Map
Competitive strengths and weaknesses
• Risks and hurdles
• Industry Trends
• Assessment of the market

20.
SWOT
Analysis
Step 7

21.
Strengths. Weakness.
Opportunities. Threats.
Build on your strengths
Resolve your weaknesses
Exploit opportunities
Avoid threats

22.
Step 8
Operations

23.
Operations
Strategy for implementing the
business plan. Use assumptions
developed here in the financial
sections:
Marketing Strategy
Production Plan
Personnel
Customer Support
Future research and development
plans
Plan to stay technically current

24.
Step 9
Financial
Planning

25.
Financial Planning
 Create budgets to achieve business
objectives
 Control of your cash flow
 Accounts Receivable/Payable
 Due Dates/Loan Payments

26.
Step 10
Timeline

27.
Timeline
 Clearly define what you want to
achieve with your business
Make sure they are quantifiable and
set to specific time lines
Set specific goals for each of your
products or services.

28.
What is Your
Moment?

29.
Additional #BRC Courses

30.
GTCC Small Business Center
• Twitter: @GTCCSBC
• Facebook: Small Business Center GTCC
• Facebook: Business Readiness Certification
336.334.4822 - Greensboro 336.454.1126 – High Point
Mark Hagenbuch x 62003 [mthagenbuch@Gtcc.edu]
DarLinda Finch x62001 [dkfinch@gtcc.edu]
Register for future classes at www.gtcc.edu/sbc