1 / 26

Business plan competition for young entrepreneurs

Business plan competition for young entrepreneurs . Guide presentation Adnan Hagoog . Business plan . A “business plan” is a roadmap that describes where you’re going and how you’re going to get there A guide to achieving your goals A tool to spark investor interest

cormac
Télécharger la présentation

Business plan competition for young entrepreneurs

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Business plan competition for young entrepreneurs Guide presentation Adnan Hagoog

  2. Business plan • A “business plan” is a roadmap that describes where you’re going and how you’re going to get there • A guide to achieving your goals • A tool to spark investor interest • A document that helps employees understand the company mission

  3. Getting Started • Is business ownership right for you? • An “entrepreneur” is a person who starts his or her own business • Self-assessment questions: • Are you a self-starter? • How well do you plan and organize? • Can you work long hours? • How will the business affect your family?

  4. What Type of Business Do You Want? • A startup: • Follow your own dream • Buying an existing business: • You will have current customers and a known track record of performance • Franchising: • Brand recognition reduces marketing costs

  5. Questions to ask when starting up A new business • Does the idea suit your personality and interests? • Will you use your own name to brand the business? • Will it be financially viable? • Do you have startup money to invest? • What will your monthly expenses be? • Is there a current need in the marketplace? • Who are you competing with?

  6. Key elements of the business plan • Description of your products and services • Market and industry analysis that demonstrates the need for your business • List of competitors, including their strengths and weaknesses • Marketing strategy (sales approach) • Management team and operations plan • Financial analysis: the investment needed

  7. Business Plan Content • 1. Executive Summary • 2. The Problem & Opportunity • 3. The Business Model • 4. Underlying Ambitions, Skills and Insights • 5. Competition • 6. Management • 7. Product Development & Deployment • 8. Marketing & Sales • 9. Financial Projections • 10. Current status

  8. Executive Summary • A mini-business plan in one or two pages • Highlights the most important points of your business plan • It is NOT an introduction to the plan • It must grab your reader, and entice him/her to read further

  9. Executive… • Identify the company, its background, structure and location • Describe what the company does, and the market it serves • Describe the market potential for the company’s products and services, market trends, etc.

  10. Company Overview • Brief Company Introduction • Mission statement • Location, size, history • Market and products • Overview of company capabilities • Objectives

  11. Industry Overview • Set The Stage • Industry Definition and Description • Major players within the industry • Factors driving dynamics • New products and developments • Legislation and Policies

  12. Market Analysis • Market Definition • Primary Market • Secondary Markets • Market Size and Trends • Current total revenues • Predicted annual growth rate

  13. Competitors • Direct Competitors • Who are they? • Size and product breadth • Revenues and profitability • Strengths and weaknesses • Market shares • Indirect Competitors

  14. Customers • Customer Characteristics • Who are they? • Why do they buy? • Need satisfied by the product/service • How is the need currently filled? • What are the alternatives? • Who makes the decision to buy? • How frequently do they purchase?

  15. Marketing and Sales Plans • Statement of Opportunity • Marketing and Sales Objectives • Existing Customers • Potential Customers • Prospects targeted • How prospects will be targeted and qualified

  16. Marketing and Sales Plans • Marketing Programs • Direct Mail • Trade Shows • Advertising • Internet • Publicity/Public Relations • Marketing Budget • Pricing • Basis for targeted price point • Margins and profitability by volume levels

  17. Marketing and Sales Plans • A “marketing plan” serves as a blueprint for you to follow to get your products and services known and recognized. It has: • Competitor and issue analysis: challenges and opportunities facing the business • Objectives: What do you want to achieve? • Action program: A “to-do” list • Budget: Detail expenses • Strategy: The Four “P’s” • Sales Plan • Sales force structure – (direct or reps) • Sales expectations/quotas • Margins given to intermediaries • Service and warranties • Sales Budget

  18. The Four P’s of Marketing • Product: Describes features and benefits • Price: Lists prices and pricing strategy • Promotion: Tools or tactics to achieve marketing objectives • Placement: Sales philosophies and methods

  19. How Much $$$ Do I Need? • Determine start up costs and estimate monthly operating costs to determine your working capital needs

  20. Financial Plan • THE PRIMARY EVALUATING TOOL • Support all information • Make conservative projections • Start-up Budget: amount needed to open • Operating Budget: ongoing expenses once open • Sources and Uses Sheet

  21. Financing Your New Business • Start up loans are very difficult to obtain • Chances are you have to rely on the funds you can personally raise • Grants?! Sidebar here • World bank grants • ACF- African Challenge fund • BPC for young entrepreneurs • Global Entrepreneurship fund

  22. Financial Plan: Startup Budget • Personnel (costs prior to opening) • Occupancy (lease, rent, or mortgage) • Legal/ Professional Fees • Equipment • Supplies • Salary/ Wages • Utilities • Payroll Expenses • Internet • Licenses/ Permits • Advertising/ Promotions

  23. Personnel Lease/ Rent/ Mortgage Loan Payments Legal Fees Accounting Supplies Salaries/ Wages Dues/ Subscriptions/ Fees Repairs/ Maintenance Insurance Advertising/ Promotions Depreciation Payroll Expenses Internet Payroll Taxes Travel/ Entertainment Miscellaneous 3-6 Months of Operating Capital Financial Plan: Operating Budget

  24. Final Thoughts • Build on every success • Learn from your mistakes • Take time to relax and reduce stress!

  25. Thank you for working so hard today!Contact the office anytime! info@shaqodoon.org

More Related