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Business Planning Basics

Business Planning Basics. !. ?. Time to start? Expand?. Uses of the plan Internal External. The Big Picture. Many names/formats, same 3 parts Market Components Organizational Components Finance Components. Market Section Tips. Market Competition (Supply) Direct Indirect Future

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Business Planning Basics

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  1. Business Planning Basics ! ?

  2. Time to start? Expand? • Uses of the plan • Internal • External

  3. The Big Picture • Many names/formats, same 3 parts • Market Components • Organizational Components • Finance Components

  4. Market Section Tips • Market • Competition (Supply) • Direct • Indirect • Future • Customers (Demand) • Realistic, current, credible data • Secondary Data • Primary Data

  5. Organizational Section Tips • Focus on roles, not individuals • Don’t overlook risk mitigation • Advisory board • Rely on Market Section data

  6. Finance Section • Simple but clear • Accurate • Uses • Benchmark • Dashboard • Budget (Cash Flow Projection) • Resources • Supported by Market Section data

  7. How to Use the Plan • Involve team in process • Update frequently • Provide to funding sources in advance of request

  8. Contact • Alan K. Christensen (Ephraim)(435) 283-7372 • Keith Church (Richfield)(435) 893-2252 www.SnowCollegeBusiness.com

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