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Create a Dynamic Business Plan

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					                   Chapter 11
MT 125 Law, Business & Ethics
What is a Business Plan?
 It is a declaration of your goals and intentions
 It tells what you want to accomplish and how you are
  going to organize your resources to accomplish success
A Business Plan Helps you…
   Clarify your vision and values
   Evaluate the marketplace
   Identify your goals
   Calculate your costs
   Forecast your growth
   Identify your risks

If you have been in business for a while a new or updated
   business plan can help bring new energy to your
   practice
A Business Plan Addresses These
Issues
 What are you offering?
 Who will your clients be?
 What needs do your services satisfy?
 How will your potential clients find you?
 How much money do you plan on making?
 What actions do you intend on taking to ensure
 success?
            Business Plan Outline
   Cover page
   Table of Contents
   Owner’s Statement
   Executive Summary
   Mission Statement
   Purpose, Priorities and Goals
   Business Description
   Marketing Plan
   Risk Assessment
   Financial Analysis
   Operations
   Success Strategies
                    Cover Page
 Title (Business Plan for your business name)
 Your name
 Address
 Telephone numbers
 Fax numbers
 Website address
 Email address
            Table of Contents
 Each section with page numbers
 Title of each appendix
           Owner’s Statement
One page description of the business and owner
 Business name, address, phone numbers, fax email
  website
 Your name, home address, home phone number
 Summary of your business experience an philosophy
 Brief business description (year it was established and
  current financial status, with a new a business, this
  will include HOW you plan on financing the business)

(one paragraph or longer for project)
           Executive Summary
 The business plan highlights
 Essential if you are using your business plan to obtain
  financing
 Must convince lenders and investors that you will
  succeed
 Although it is at the beginning of the business plan,
  write it last, taking the highlights from each section
  and keep it to 3 pages or less

One paragraph or longer for project, answer questions
 from slide four)
           Mission Statement
 Conveys the essence of your business-tells why your
  business exists
 Focus on the benefits your customer receives
 Short and memorable-one to two sentences


“We help clients achieve their wellness goals and enjoy
 vibrant health”
  Mission Statement-example
“Moonshadow Therapeutic Massage provides therapeutic massage and bodywork for the
  enhancement of health and well-being to health-minded individuals. We are dedicated
  to provide our clients with nurturing treatments and continuing education to promote
 relaxation and self-healing. The success of Moonshadow Therapeutic Massage is built on
  trust, expertise, professionalism, and a personal touch that always puts the health and
                               well-being of our clients first.”

                     Moonshadow Therapeutic Massage, Cary, NC
      Purpose, Priorities, Goals
 Short term and long term goals
 State you overall career purpose and at least six
  priorities (long and short term)
 List at least two goals per priority




For project, state overall career goal and three priorities
  with two to three goals for each
Purpose, Priority, Goal-example
 To help clients in their pursuit of relief from physical,
  mental and emotional stress (Purpose)

   Educate clients on the connection between the body and
    mind (Priority)
        Hold one bodymind workshop per year (Goal)
   To continue my education in holistic healing modalities
         (Priority)
        Attend one continuing education workshop per year(Goal)
         Business Description
Brief history of your business (or what you want to
  accomplish)
Describe services you offer
Describe products you sell
Describe special products or equipment you use
Describe the physical location
Describe the unique features that distinguish your
  practice from others

For project, one to three paragraphs
               Marketing Plan
 What image do you want to portray
 Describe your target market
 Clarify your differential advantage
 Give a competition analysis
 Include steps you will take to meet any challenges
 Outline marketing goals for each area-promotion,
  advertising, publicity and community realations

For project, one to three paragraphs, without
  competition analysis
              Risk Assessment
 List possible external and internal barriers to the
  success of your business




For project, one to two paragraphs.
             Financial Analysis
 Potential fees, current financial status financial
  forecast
 Start up capital-how much do you need




For project, one paragraph, list fees, how you plan to
  fund start up costs.
                  Operations
 Overview of your business organization, procedures
  and policies
 Specify the legal form of ownership your have chosen
 Cite licenses, permits and insurance coverage




For project, one to two paragraphs with legal form of
  ownership, required licenses, permits and insurance
  coverage
            Success Strategies
 How will you implement your business plan




 For project, one paragraph.