Business Plan Workbook Workshop 2
Company Name Date
___________________________________ ___________________________________ ___________________________________
The old adage says: “Plan your work and work your plan.” We created the Business Plan Workbook as a tool for your personal business development. By putting earnest time and attention into your Business Plan Workbook, you will set your course for manifesting your life of abundance!
Stuart Ross
Student Business Planning Competition 2008/09
1
“Where you’ll be in 5 years time will depend on the books you read, the people you associate with AND the action you take…” -Brad Sugars-
Stuart Ross
Student Business Planning Competition 2008/09
2
What Do You Want Out Of These Workshops?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
Stuart Ross
Student Business Planning Competition 2008/09
3
Business Plan Contents
Executive Summary Table of Contents Introduction to the Business and its Management Products and Services The Market Competitive Business Strategy Marketing Plan Sales Business Operations Financing Requirements Key Financial Data and Financial Projections Appendix (Session 1) (Session 2) (Session 1) (Session 1) (Session 2) (Session 2) (Session 3) (Session 3) (Session 3) (Session 4)
Stuart Ross
Student Business Planning Competition 2008/09
4
Products and Services
Stuart Ross
Student Business Planning Competition 2008/09
5
What is your product / service. Describe it in clear and simple terms?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
What need/problem is being addressed by these products/services?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
Stuart Ross
Student Business Planning Competition 2008/09
6
What are the features of your products/services?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
What are the benefits of your products/services?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
Stuart Ross
Student Business Planning Competition 2008/09
7
Explain any performance advantages/value advantages over rival products
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
Intellectual property – how will you protect your product / Service
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
Stuart Ross
Student Business Planning Competition 2008/09
8
What price will your products sell at and what is the pricing strategy behind this decision? How does this compare with rivals?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
State the costs of production and distribution for each product /service?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
Stuart Ross
Student Business Planning Competition 2008/09
9
What is the resulting profit and margins on sale?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
What is your high level timescale and milestones to take your product/service to market?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
If you have further ideas or developments in the pipeline – please outline them
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
Stuart Ross
Student Business Planning Competition 2008/09
10
Products/Services
What is your product / service? Describe it in clear and simple terms What need/problem is being addressed by these products/services? What are the features of your products/services? What are the benefits of your products/services? Explain any performance advantages / value advantages over rival products Intellectual property – are any patents or trademarks involved or required? What price will your products sell at and what is the pricing strategy behind this decision? How does this compare with competitors? State the costs of production and distribution for each product /service? What is the resulting profit and margins on sale? What is your high level timescale and milestones to take your product/service to market? If you have further ideas or developments in the pipeline – please outline them. Include any background information relevant to the products or services either in this section or appendix.
What further information do I need to complete this section?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
Stuart Ross
Student Business Planning Competition 2008/09
11
Marketing
Stuart Ross
Student Business Planning Competition 2008/09
12
Marketing Formula LEADS
X
CONVERSION RATE
=
CUSTOMERS
X
# OF TRANSACTIONS
X
AVG £ SALE
=
REVENUES
£
Stuart Ross
Student Business Planning Competition 2008/09
13
5 Minute 7 Question Marketing Plan Example 1. The first sentence tells the purpose of your marketing.
The purpose of Computer Tutor marketing is to book 100% of the company's available time for computer education at the lowest possible cost per hour. 2. The second sentence tells how you'll achieve your purpose, concentrating upon your benefits and your competitive advantage or advantages. This will be accomplished by communicating the rapid learning and high post-course results of attendees, and establishing the credentials of the tutors and the special features of the training equipment. 3. The third sentence tells describes your USP. We will position ourselves as the provider of the courses that provide the guaranteed fastest results from instruction in the operation of small computers. 4. The fourth sentence tells your identity. Our identity will be a blend of professionalism, personal attention, and warm, human regard for our students and the role of computers in their lives and their businesses. 5. The fifth sentence tells who your target audience -- or audiences. Our target market is local small business owners who can benefit from learning to operate a computer; our secondary market is large corporations. 6. The sixth sentence tells the marketing strategies you'll use. Marketing strategies to be utilised will be a combination of personal letters, circulars, brochures, signs on bulletin boards, classified ads in local newspapers, yellow pages advertising, direct mail special offers, advertising specialties, free seminars, sampling, a referral program, telephone training, professional office decor and employee attire, a website offering a free newsletter, and publicity in the local newspapers, on radio talk shows, and on television. 7. The seventh sentence tells your marketing budget as a percent of your projected gross sales. (In l999, the average U.K. business invested around 4 percent.) Ten percent of projected gross sales will be allocated to marketing.
Stuart Ross
Student Business Planning Competition 2008/09
14
1.) The Purpose of my marketing is:
___________________________________________________________________________ ___________________________________________________________________________
2.) What are the benefits and competitive advantage or advantages of my Product/Service:
___________________________________________________________________________ ___________________________________________________________________________
3.) My USP is:
___________________________________________________________________________ ___________________________________________________________________________
4.) My business identity is:
___________________________________________________________________________ ___________________________________________________________________________
5.) My target audience or audiences is:
___________________________________________________________________________ ___________________________________________________________________________
6.) Marketing strategies I plan to use are:
___________________________________________________________________________ ___________________________________________________________________________
7.) I plan to allocate __________ percent of gross turnover to marketing.
Stuart Ross Student Business Planning Competition 2008/09 15
Marketing Strategies
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 41. 42. 43. 44. 45. 46. 47. Local Newspaper Advertising Daily Newspaper Television Advertising Radio Advertising Magazine Advertising Trade Journal Advertising Industry Newsletter Ads School Newsletter Ads Newspaper, Magazine & Newsletter Inserts Public Relations Press Releases Mailbox Flyers Sidewalk Flyer Handouts Catalogs Brochures Yellow Pages White Pages Directories Barter / Trade Exchanges Buy Database Lists Direct Mail Piggy Back Invoice Mailings Preferred Vendor Lists Fax Outs Billboards / Posters Coupon Mailers Taxi Backs Cinema Advertising Sponsorships Post Card Mailings Internet / Web Pages Building Signage Car Signage In-store & Sidewalk Signage Window Displays Site location Point of Sale Material / Displays Product Packaging Video / In-store Displays Shopping Center Promotions Create an Industry Newsletter Stickers and Tags Refrigerator Magnets Named Promotional Gifts Blimps, Balloons, Plane Banners and skywriting Government Programs / Contracts Uniforms / Name Tags Business Cards Networking Functions 48. 49. 50. 51. 52. 53. 54. 55. 56. 57. 58. 59. 60. 61. 62. 63. 64. 65. 66. 67. 68. 69. 70. 71. 72. 73. 74. 75. 76. 77. 78. 79. 80. 81. 82. 83. 84. 85. 86. 87. 88. Salespeople Telemarketing Cold Calling Competitions / Surveys Host Beneficiaries Strategic Alliances Newsletter with Strategic Alliance Write a Book Seminars & Events Business Showcase – Display Tables Business Open House Fundraising Campaigns Trade Shows Party Plan Network Marketing Distributors / Agents Licensees / Franchisees Flea Market Change / Open More Locations Trade Longer / Different Hours Open New Territories Test & Measure Provide Team Selling Incentives Team Buying Incentives Referral System Web auctions Door knob hangers New resident services …………………………………… …………………………………… …………………………………… …………………………………… …………………………………… …………………………………… …………………………………… …………………………………… …………………………………… …………………………………… …………………………………… …………………………………… ……………………………………
Stuart Ross
Student Business Planning Competition 2008/09
16
Stuart Ross
Student Business Planning Competition 2008/09
17
How do you plan to monitor and control the marketing effort to ensure it is effective?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
Stuart Ross
Student Business Planning Competition 2008/09
18
Marketing Summary
What is the strategy for marketing your products? What is your Unique Selling Proposition? What marketing strategies will you use? What will be the cost of your marketing activity? How will this breakdown by category? How will you monitor the effectiveness of your marketing program?
What further information do I need to complete this section?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
Stuart Ross
Student Business Planning Competition 2008/09
19
Sales and Distribution
Stuart Ross
Student Business Planning Competition 2008/09
20
Explain how you will sell your products/services to your target customers. What will be your route to market?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
What is the cost of your route to market channel? Describe any intermediary margin structures for each sales channel you use through to the final consumer. If you need an internal Sales Force, what will be the cost?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
Is there a phased approach to rolling out your sales strategy?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
Stuart Ross
Student Business Planning Competition 2008/09
21
Sales and Distribution Summary
State market segments to whom you are you selling the products/services Explain how you will sell your products/services to your target customers. What will be your route to market? What is the cost of your of your route to market channel? Describe any intermediary margin structures for each sales channel you use through to the final consumer. If you need an internal Sales Force, what will be the cost? Is there a phased approach to rolling your sales strategy?
What further information do I need to complete this section?
___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________
Stuart Ross
Student Business Planning Competition 2008/09
22
Notes
Stuart Ross
Student Business Planning Competition 2008/09
23
Notes
Stuart Ross
Student Business Planning Competition 2008/09
24