By
Boomy Tokan

Maps out the journey in detail.
Shows you what resources will be needed to make the plan succeed.
Shows realistic time of success.
Shows the weaknesses of the plan and helps to overcome them
BEFORE THEY ARE PUT INTO ACTION.
A useful/necessary tool required by potential investors.
Useful tool in persuading those with the necessary manpower/skill
of your seriousness and commitment.
Fail on paper – a chance for trial AND error before you commit
resources to the project.
Benefit from the process

Marketing plan
• (What you want to do)
Operations plan
• (How you want to do it)
Financial plan
• (How much it will cost)
Appendices
• (What shows you can)
Introduction/Executive Summary
(summary of all aspects. Include Risks)

Marketing plan
• (industry overview/sector
overview, competitors,
business to business,
consumers, marketing
strategy – product, place,
price, promotion, growth
strategy) .
Operations plan
• (structure of the business,
Management, training
requirements, equipment
needs, insurances)
Financial plan
• (survival budgets, cash
flow forecast, profit and
loss).
Appendices
• (cv, letters of intent and
recommendation).
(summary of all aspects. Include Risks)
Introduction/Executive Summary

Introduction/Executive Summary
 Write it first or write it last
 It must include:
- Business background and experience
- The Management Team
- The opportunity and how you plan to exploit it
- The market, your uniqueness and route-to-market
- Risks and how you plan to mitigate them
- Potential profit
- How much do you need, your investment, payback
period and exit strategy

Industry overview
• Past
• Present
• Future
Sector overview
• Past
• Present
• Future
Competitors
• “an important factor that will influence the eventual
success or failure of any business in any market”
(principles of marketing- f. brassington & s. pettitt)

TYPES OF COMPITITORS
Future
competitors
Indirect
Direct

S.W.O.T. Manufacturers Relationships Finance Suppliers
Consumers Promotion Strategy
Geographical
Coverage
Product
Range
Culture
Staff Size
Cost
Structure
Reputation
Ownership
Distributors
Used
Segment
Served
Motivators
Beyond Money
Management
Industry
Opinion

Why Your Competitors Are
Valuable To You?
Part 1
By
Boomy Tokan

Types Of Competitors
 Direct Competitors
 Indirect Competitors
 Future Competitors

2 Major Reasons
 Competition is a proof that a market exists
 Competition shows you what is possible

By
Boomy Tokan

2 More Reasons
 Competition compels you to become more
creative
 Competition ensures customers receive better
services

By
Boomy Tokan

2 Mediums
 Read everything you can
 Visit them physically

By
Boomy Tokan

2 More Mediums
 Use their products
 Obtain their financial accounts

Do some
voluntary
work/
Part time
Work
Shared
Customers
Shared
Accountants
Lawyers
Suppliers
Reports
Exhibitions
Websites,
Blogs & other
Online
Sources
Visit Local
Stores

Distributors
Big/Small
Businesses
Suppliers

Consumers:
•Past Needs
•Present Need
•Future Needs
•Who Are They
•Where Are They
•What Do They Buy
•In What Quantities
•How Often Do They Buy
•Age Group
•Education
•How Will I Market To Them
•Why Are They Buying From The Competitor
•Income
•Favourite DJ
•Radio Station
•TV Program
Consumers
Write A Profile Of Your Typical Customer

Product Benefits
How is it
made?
What is it
made of?
How can
the benefits
be sold?
Does it meet
expectation of
customers?
What
advantage will
it have over
competitors
products?
What is
unique
about your
product?
Why should
customers
buy your
products?

Work From Home
Tube lines
Buses & Trains
Proximity to potential customers
Any other advantages

Using A Pricing Structure
Total Cost
Competitors Price
Ability for customers to pay
• Standard
• Medium
• Average
• Discounted

Newspapers, Radio, Direct mail ,TV and WOM
In Store promotion
Press – editorial
Advertising
Expert Presence On The Internet
Flyers

How?
With whom, Self or,
other Platforms &
methods?
Cost?

How?
Use A Focused Group
Use Your Target
Market

What To Consider #1
 Does the name communicate what the
business does?
 Is there anyone else using the same name?

What To Consider #2
 Availability with authorised registers?
 Does it solve a problem potential customers may have?
 Does it communicate authority?

What To Consider #3
 Easily translated to image?
 Can I get a .com or any other domains?

Getting Started

What To do
 Write down as many names as possible
 Try them out with potential clients
 Use the keyword in that name
*******Now Go Online*********

Online Help

Final Points!
 Always niche their products
 A name that communicates:
Online Traffic = More Clients = More
Money

• Sole trader
• Partnership
• Ltd.
Structure of the
business
• What are they?
Aadvantages and
Disadvantages
• Who are those
that will advise
you?
• What have they
achieved?
Management
• No. of staff
• Type of staff
• Pay of staff
STAFF
• When
• Cost
• Where.
Training
Requirements
• Where
• Cost
• When.
Exhibitions
• Quotations
• Where
Equipment needs
• What are they?
Alternatives
• Types
• Where
• When
• Cost.
Insurances Other

Monthly
outgoings
Survival
budgets 12 months
projections
Cash flow
forecast Annual
Profit and
loss

By
Boomy Tokan

 Cashflow is the flow of cash In and Out of your
business in a given period
 Cashflow is different to Profit and Loss Account
 Cash is King – Make it the King of Your Business
 The cashflow forecast can be quite sobering
- brings to bear the financial realities of a
 business.
Why You Need To Know

 Level 1: Income
 Level 2: Expenses
 Level 3: The difference between the Income and
Expenses as well as carry over from the previous
month
3 Parts To A Cashflow Forecast

By
Boomy Tokan

 Some assumptions
 Most from testing and research
 Some from Competitors
The Source Of Your Figures

By
Boomy Tokan

By
Boomy Tokan

 Send out your invoices on time
 Offer discounts for early payment
 Engage in Trade and Cash works
Level 1 – Improving Your Income

 Get paid a deposit before you start the work
 Get paid in full before you start the job
 Stop working with big businesses that take 90 days to
pay!!!
Level 1 – Improving Your Income

 Spread your purchase cost
 Get longer payment periods
 Get better deals on utilities
 Longer repayment period
Level 2 – Improving Your Expenses
Section

 Pay less wages
 Take less money out of the business
 Use contract workers from places like Fiverr.com,
Elance.com, Odesk.com
Level 2 – Improving Your Expenses
Section

 Understand your bottom-line
 Use this to determine the amount of money needed
Level 3 – The Differential Section

 Recent CV.
 Letters of intent: - From customers who are interested
in purchasing your product or using your service.
 Letters of recommendation from people who know
you professionally.
 Other supporting information

Email your comments to:
boomy@startyourownbusinessacademy.com
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