Main Body
Business Plan Summary Outline (Printable)
BUSINESS PLAN
BUSINESS DETAILS
- What kind of entrepreneur are you? Innovator? Lifestyle? Income-replacement
- What kind of business are you?
- Disruptive Innovation? New-to-the-world Industries? Incremental Product/Service? Innovation? Copy-cat? Market Development Market Paradigm Shift?
- Sole Proprietorship? Partnership? Corporation? S-Corporation? Non-Profit?
- Is your business part-time or full-time work?
- Why do you want to start this business?
- Have you not added your entrepreneurial characteristics quizzes to talk about/discuss yourself in the business details? Remember YOU are your business, and the business identity is shaped in YOUR vision.
INDUSTRY AND MARKET ANALYSIS
- Market/Industry Lifecycle: New Market? Emerging? Growing? Mature? Declining?
- Market/Industry Concentration: Fragmented? Consolidated?
- Market/Industry Geographic Extent: Local, regional or national? Global?
- Competitors: Direct? Indirect? Future Competitors?
- Market Size: Potential Market? Total Available Market? Served Available Market? Penetrated Market?
- Market Analysis Techniques/Tools:
PESTEL Analysis
|
P |
Political |
Political factors include elements such as tax policies, changes in trade restrictions and tariffs, and the stability of governments.
|
|
E |
Economic |
Economic factors include elements such as interest rates, inflation rates, gross domestic product, unemployment rates, levels of disposable income, and the general growth or decline of the economy.
|
|
S |
Social |
Social factors include trends in demographics such as population size, age, and ethnic mix, as well as cultural trends such as attitudes toward obesity and consumer activism.
|
|
T |
Technological |
Technological factors include, for example, changes in the rate of new product development, increase in automation, and advancements in service industry delivery.
|
|
E |
Environmental |
Environmental factors include, for example, natural disasters, and weather patterns.
|
|
L |
Legal |
Legal factors include laws involving issues such as employment, health, and safety, discrimination, and antitrust.
|
SWOT Analysis
|
|
Strengths |
Weakness |
Opportunity |
Threats |
Price |
|
Your Business |
|
|
|
|
|
|
Competitor 1 |
|
|
|
|
|
|
Competitor 2 |
|
|
|
|
|
|
Competitor 3 |
|
|
|
|
|
- Value Chain: Porter’s 5 Forces – inbound logistics; operations; outbound logistics; marketing and sales; after-sales service; procurement; human resource management; technology development; firm infrastructure.
- Why do you think this will work? What opportunity do you recognise? Is there a gap in the market? Are you bringing a totally new innovation?
CUSTOMERS AND VALUE PROPOSITION
- Business Model: Low price (low cost); high differentiation; high customer focus or intimacy; Internet-based model?
- How are you ensuring that your business has a competitive advantage?
- What IS your competitive advantage?
- How do you have a good business model?
- Value Proposition
- How your product or service will solve a problem for your target customers.
- The benefits they can expect – tangible and intangible.
- Why they should buy from you rather than from your competitors.
CREATE VALUE BY:
- Establishing a business character or identity
- Building and maintaining a social status or reputation
- Connecting with your customers
MARKETING STRATEGY
- Marketing Mix
- Product/service: Quality; Performance; Design; Newness or novelty; Colours; Sizes; Specifications; Customization; Packaging; Convenience.
- Price: List Price; Discounts (volume, loyalty, etc); Auction; Negotiated; Payment Terms; Sales and Specific Offers; Differential or Segment Pricing; Reduction in cost of other products/services.
- Promotion: Communication; Advertising; PR; Word-of-mouth; Fairs and exhibitions; Sponsorship; Competitions; Point of Sale Displays; Brand.
- Place: Location; Layout; Distribution Channels; Retail/Wholesale; Internet; Telephone; Face-to-face selling; Accessibility.
- People: Relationships; Service; Advice; Support; Partnerships; Convenience of use.
- Launch Strategy;
- Sales Tactics;
- Communication Tools;
- Word of mouth; Relationships and Networks; Social Networks and Media; Blogging; Guerrilla Marketing; Publicity and Public Relations; Newspaper Advertising; Radio Advertising; TV Advertising; Internet Advertising; Sponsorship; Telephone; Posters; Flyers; Billboards; Direct Mail; Email; Texting/Tweeting.
- Minimum Viability;
- Customer Feedback and Evaluation
- Brand Development;
- Competitive Reaction;
- Product and Market Development;
- Product Modification; Product Expansion; Product Extension; Completely New Products.
- Star; Problem Child; Cash Cow; Cash Dog.
- Acquisition for product and market development.
- Growth Potential and Scale-up Plans.
- Market Penetration; Product/Service Development; Diversification (horizontal integration, backwards vertical integration, forwards vertical integration); Market Development; Franchising.
OPERATIONS PLAN
- Key Operating Activities (i.e. Manufacturing Processes; Business Model; etc.)
- Sole Proprietorship; Partnership; Limited Liability or Corporation; Social Enterprise: Not-for-profit, Charities.
- Safeguarding your business;
- Intellectual Property Law: Patent; Trademark; Registered Design; Copyright.
- Partnerships;
- Business Controls;
- IP Issues;
- Scalability.
- Operations Plan.
- Gantt Chart (Link: Presentationgo.com).
RISK ASSESSMENT
- Identified Risks;
- Pre-launch activities; Post-launch Operations.
- Risk Monitoring and Mitigation;
- Pre-launch Delays; Competitors; Competitive Advantage; Market; Customer Value Proposition; Product/Service quality; Customer Service; Cash Flow; Sales; Profits; Operations; Productivity; Administration; Brand Identity; IP; Technology; Investment; Stocks/Inventory; Merchandising; Debtors/Receivables; Interest rates; Exchange Rates; Management.
- Critical Success Factors;
- Things that are essential to get right if the business is to achieve its mission.
- Assessing Risk: Impact; Probability; Control;
- Strategic Options
- Affordable loss and lean start-up; Borrowing and bootstrapping; Compartmentalizing risk; High margins and low fixed costs;
- 3 High, 3 Medium, 3 Low
- Risk (Medium | External): Snowstorm in winter.
- SO: Online store.
- M: Late opening.
- CSF: Open communication with customers.
MANAGEMENT TEAM
- Key People; their functions and background;
- Culture
- Organizational processes
- Leadership Styles: Authoritarian; Democratic; Laissez-faire;
- Structures;
- Controls and rewards;
- Empowerment;
- Routines; Rituals; Rites and Taboos
- Stories; Symbols and Myths.
- Cognitive Processes
- Ethics; Beliefs; Assumptions and Attitudes;
- Norms and Rules of Conduct.
- Behaviours
- How things get done: Rational v. Politicking; Following v. Bending.
- Vocabulary: Job Titles; Slogans; Metaphors; Signals; Gossip.
- Business Organization or Structure;
- Spider’s Web Structure?
- Hierarchical Structure?
- Matrix and Teamworking Structure?
- Directors, Advisors or Other Key Partners;
- Skills, Gaps and Plans for filling them.
RESOURCES
- Human Capital
- Staff
- Recruiting people:
- Job description?
- Where do you find them?
- What people do you need? What skills/education?
- Full-time? Part-time? Contract?
- Salary? Hourly? Piecework? Commission?
- Social Resources (Strong vs Weak Networks)
- Accountants?
- Lawyers?
- Business Consultants?
- Mentors?
- Emotional Support?
- Financial Resources;
- Where are you getting your money from?
- Premises and Facilities;
- Machinery and equipment;
- Where are you getting your money from?
FINANCING
- Founder’s contribution;
- Loan and/or equity finance requirements;
- Gearing/leverage;
- Timescale and exit routes for equity investors;
- Financial Projections:
- Income Projections;
- Cash Flow Projections;
- Balance Sheet Projections;
- Key Ratios;
- The assumptions on which your projections are based.
EXIT PLANNING
- Exit options
- Sale, Acquisition, Bankruptcy, etc.
