helps an entrepreneur identify exactly what needs to be accomplished to build the venture, and what human and financial resources are required to implement the plan.
Business Planning
IMPORTANCE OF PLANNING
Concentrate on Goals
Keep Track of Finances
Keep track of business progress
Helps understand deviations and failure
Conveys risks of what to expect in advance
T R I M Framework
Team, Resources, Ideas and Market
TYPES OF PLANS USED BY ENTREPRENEURS
I. Feasibility Study
II. Business Model Canvas
III. Business Brief
IV. Pitch deck
V. Business plan
TYPES OF PLANS USED BY ENTREPRENEURS
I. Feasibility Study
II. Business Model Canvas
III. Business Brief
IV. Pitch Deck
V. Business Plan
part of the initial design stage of any project/plan. It is conducted in order to objectively uncover the strengths and weaknesses of a proposed project or an existing business.
FEASIBILITY STUDY
It can help to identify and assess the opportunities and threats present in the natural environment, the resources required for the project, and the prospects for success.
FEASIBILITY STUDY
Elements of a Business Model Canvas
▪Customer Segments
▪Value Proposition
▪Channels
▪Customer Relationships
▪Revenue Streams
▪Key Resources
A visual chart with elements describing a business or product’s value proposition, infrastructure, customers, and finances
BUSINESS MODEL CANVAS
a document that offers the explanation on the reason why a particular model leads to success.
BUSINESS BRIEF
It is used to endorse goods and services to customers, increase profits, offer solutions to industry problems or intensify awareness of business activities.
BUSINESS BRIEF
the first communication instrument that provides an overview of the business in order to raise funds.
PITCH DECK
presented to either on face-to-face or online meetings to possible investors, customers, partners, and co-founders.
PITCH DECK
part of the initial design stage of any project/plan. It is conducted in order to objectively uncover the strengths and weaknesses of a proposed project or an existing business.
BUSINESS PLAN
It can help to identify and assess the opportunities and threats present in the natural environment, the resources required for the project, and the prospects for success
BUSINESS PLAN
COMPONENTS OF A BUSINESS PLAN
I. Title Page
II. Executive Summary
III. Industry Overview
IV. Market Analysis and Competition
V. Sales and Marketing Plan
VI. Management Plan
VII. Operating Plan
captures the legal information of the business includes the registered business name, physical address, phone number, email address, and company logo.
Title Page
provides a summary of the entire business plan. Presnts company’s mission, vision and goals, and description of products or service offerings.
Executive Summary
information provided includes major competitors, industry trends, and estimated revenues, Also, shows company’s position in the industry and how it will compete in the market against other major players.
Industry Overview
details the target market for the company’s product offerings, needs and geographical location. Overview of estimated sales volume
Market Analysis and Competition
details how the company plans to sell its products to target market. Details the company’s advertising and promotion activities, pricing strategy, sales and distribution methods and sales support.
Sales and Marketing Plan
provides an outline of the company’s organizational structure, management team, and internal and external human resource requirements. List of number of employees and the remuneration to be paid to each employees.
Management Plan
provides an overview of the company’s physical requriements, such as office space, machinery, labor requirement, supplies, and inventory.
Operating Plan
determine whether the business requires financing from financial institutions, investors, or venture capitalists. Financial plan includes projected Income Statement, Balance Sheet, and Cash Flow.
Financial Plan
