They comprise the core of a business plan presentation and form the basis for additional discussion when someone asks for more detail. If you are using a business plan to seek individual investors, it is important to state the following on the title page: This is a business plan. paper craft black waves. They are particularly useful for demonstrating a technology or service that is new or novel (see Small Business Insight: VividSky), or to reach a market that is very widely spread out, making conventional promotional techniques too expensive. • An invention plan focuses on the market and operationalization of a new invention. For key employees, knowing the firms operation and prospects helps them visualize their future in the firm. Relevant appendixes might also be included, such as detailed product descriptions or price lists. Elegant geometric blue and gray business background. The best fictional stories are based on what exists now, as a good business plan should be. The kinds of benefits these different groups look for in a plan are given in Table l. The other circumstance under which a business plan is needed is for internal understanding. When you are seeking outside supportwhether financial or expertyou do a busi¬ness plan to signal your professionalism and how serious you are about the business. Test marketing is selling your product or service in a limited area, for a limited time. For bankers, it is the payback (note that this is NOT the payback criterion for investing) of the loan or line of credit, so cash flows and collateral issues are important. Table of Contents For small businesses with an owner-manager and an employee or two, it is easier to just give the description in words. • Plans for an existing business: Occasionally, entrepreneurs start a business before they write a plan for it. When looking for accomplishments, do not limit yourself to business. Executive summaries are usually organized in a series of short paragraphs (three or four sentences), each with a particular Months to Breakeven. Generally if you need outside support to get a business going, those you are seeking support from will want to see a business plan-and you will want to make sure the plan addresses their concerns. Taking a paragraph or two to identify your bank and banker, your attorney and legal firm, accountant or bookkeeper, and other consultants can help show that you have high-quality supports. The summary is probably the single most important written part of the business plan for two reasons. • Cooks Cake Decorating & Candy Supplies (West Allis, Wisconsin): No one should ever go without a decorated birthday cake. Having experience in sales is always useful, as is experience managing projects or people. Product Improvement and New Products. • Contact information (owner names, company address, telephone and fax numbers, e-mail and Web site addresses). From pitch decks to client proposals, investor updates and a company profile template. In either case, income and cash flow are given monthly for the first year, quarterly for the second year, and annually for the third and any later years. Paper cut abstract background. The ones you select depend on what you are trying to highlight in your business plan. When this is the case, you should provide a separate description of each one. The busi¬ness plan takes all the elements and includes them in a complete description of the major elements of the business. You handle this by creating handouts with the new information. A business plan presentation usually lasts 10-15 minutes, followed by 15 or more minutes for questions. 5. Risk slide: Admit to the two or three greatest risks or challenges facing your firm, and for each, explain how you are preventing, insuring, repairing, or monitoring the situations. Being able to name customers (especially repeat customers) really builds up this section. If you are seeking a banker, investor, or partner, yes. For example, accountants typically go to the financial projections after theyve read the executive summary. The target customer section focuses attention on the individual who would buy your product or service. Having been successful in another line of business is a good second choice. When the plan does not clearly specify the key paybacks to readers, it fails to sell them on the idea. 3d clean violet carving art. While you might put in the resumes of one or two key people if you have the space, typically the key personnel are described in a half- to one-page description. • BabyGenie.com (Fort Lauderdale, Florida): The mission of BabyGenie.com is to become one of the best online resources for young mothers and repeat parents. Pro Forma Balance Sheets. They give much more detail about the business than the Free for commercial use High Quality Images Think of yourself as telling a storya fascinating storyabout your business. The business plan tells a story that starts in the here and now and builds believably toward a better future. Explain here how each is used in your firm and in your sales efforts. • Management: Describes the entrepreneur and start-up team in terms of expertise and track record. (3-4 minutes), 3. The project background is an important part of every proposal.It can be very similar to the project rationale or project justification.In a way, it describes the history of how you developed the idea for your project and the status quo that you want to change. MANUFACTURING AND OPERATIONS PLAN Operating Cycle. The best descriptions entice the reader to want to buy the product or service or get involved in the company that sells it. When he started, all he used was his executive summary and the financials. It is important to know that research suggests that firms without a business plan are more likely to close down than firms with plans.6 While having a business plan does not guarantee higher profits/ it is essential to qualify to be considered by business professionals for investments, loans, or credit lines. • Letters of opinion from intellectual property attorneys on prospects for patent or trademark protection or from manufacturers or consulting engineers about the viability of production processes for the product. Yet it is important that the pitch does not sound memorized. Short biographies of the key personnel replace resumes, and the site may also have price or product lists or testimoni¬als. The business plan presentation, like the plan itself, has a very clear tradition about how it is supposed to be done. The Team. Your marketing plan can differ dramat¬ically among the different groups. Brief your team on a new business project with this accessible presentation template, covering project goals, description, competitive analysis, technology, resources, procedures, schedule, and related documents. Michael McMyne won one of the Global Student Entre¬preneur Awards for his consulting business. So in addition to all the material typically included in a full business plan, an operational plan includes detailed specifications of the major techniques, methods, recipes, formula, and sources used by the firm to do its work. The techniques are simpleuse eye contact, use peoples names, remember what they might be interested in or in what they have shown an interest before, smile, and above all, be honest. Good storytellers know that you make the story fit the audience’s time. Plans for any business whose product or service is new, even revolu¬tionary, or in which the entrepreneur is new to the industry, are the ones that really need these 25 pages. topic. In the early stages of finding a partner, however, it is usually too soon to share your detailed finan¬cial information. But now you have to describe these actual processes by which you’re going to lead that project to success. • Book Passage (Corte Madera, California): The Bay Areas Liveliest Bookstore. Typi¬cally, executive summaries start out written, and they remain the most popular item to send people who ask about your business. What they are looking for should be based on discussions with potential customers, and it hopefully matches closely with the value benefits your prod¬uct offers. For example, the Excalibur Seasoning Company says its mission is to provide you, as a customer, with the highest quality products and service available in the seasoning industry.” Typically a mission statement talks in terms of what will make a difference for the customer or the industry. Sales Tactics. For our project business case example we’re going to imagine a growing company that is … A major part of any business plan presentation is a chance for the listener to form an opinion about you as an entrepreneur. On the other hand, there are a lot more famous firms that started from the business plan-Amazon, eBay, Mrs. Fields, Red Hat, Xerox, and Federal Express to name a few.3 When Inc. magazine polled 500 owners of high-performing small businesses, 54 percent had a plan and 41 percent did not.4 Typically, the higher ¬performing firms in any industry (measured in profits) tend to be those who engage in planning.5 Business plans can also be used as a way of establishing a baseline against which a firm can measure its performance. In response, help make the product or serv¬ice seem more familiar by detailing how it is used by customers, and give more background on how the product or service has done in other markets, especially markets similar to yours. A year before, Muhd Fazzuan who was working as the staff in the marketing department discovered a big problem in meeting the need of the Jenz Group in maintaining their first web page to meet the current e-marketing demand on that time. Business plans are a type of story. Besides the development of human resources, a good Because this pitch is for a new type of service, it gives the listener more details about how it works than may otherwise appear in an elevator pitch. Every business faces risks in the real world, so every business plan needs to spend some time addressing them. Each of the risks can be handled, but the best test is to have people in your target audiences give you feedback on your plan. The pitch ends with where the business is now-seeking money from seed investors. Plans, once done, get revisited. In this section you layout the components and supports for the firm itself. A firms vision statement is perhaps its most important single idea. Give this line in your most confident and sales-oriented manner and mention that you believe you have shown this in todays presentation. This description is used in one-on-one business settings and when someone asks for more detail after hearing your concept. There are different kinds of business project proposal samples, and one of them is the event planning business proposal used for sales, marketing, branding, and advertising purposes. • Business: Describes the current stage of the business and when major milestones of starting, sales, or profitability will be met . Confident business woman with santa claus hat sitting at a table with a xmas tree and a gift on it making ok gesture and pointing something in the office on white background, Blonde business woman with santa claus hat sitting at a table with a xmas tree and a gift on it making call me gesture and pointing something on the right side in the office on white background, Modern blue and orange business presentation template. Key Management Personnel. Having these improvements ready requires some preparation on your part. It is designed to open the door to a more a in-depth dialogue. Modern business brochure presentation blue template, Abstract view of urban scene and skyscrapers, Abstract blue wavy business style background, Blurred abstract background interior view looking out toward to empty office lobby and entrance doors and glass curtain wall with frame, Clean red web template banner in minimal style, Blue white low poly triangle shapes background, Businessman showing the changes in the report, Close-up of keyboard and glasses with executives background, Blue technology concept background design, Elegant business background with lines template, Golden luxury background template with geometric shapes, Contemporary building exterior skyscraper design concept, Black friday sale banner with red and black glued paper background, Statistic documents with businessman blurred background, Modern elegant business background with gold ornaments. Learn your presentation so well that it comes out as an often-repeated, beloved story, not as a prepared statement. Investments in higher education have also a lasting positive effect on the employability of the population. Cover letters are typically clipped to the cover, rather than included in the plan itself, so the reader opens the plan to see the title page. If there are plans to expand the facilities, mention them. To be successful in telling the firms story, a business plan needs to match the needs of the reader. It is better to have less material and know it backwards and forwards than to have material in the plan you do not totally understand. Any owners or senior managers count, as do people who will be handling key aspects of the business. What is impressive? In a business plan, you tell the reader about a future place-your business. When Bill Gates and Paul Allen started Microsoft as teenagers, their vision was a computer on every desk running Microsoft software. A startup project template initiates the charter of a project, offers sincere advice for running and launching the project, confirm the project sponsor as well as the project management. However, most small businesses are more imitative than innovative. Many of the parts of the plan will quickly become outdated or need to be changed or adapted as the business is in operation. A business plan is a document designed to detail the major characteristics of a firmits product or service, its industry, its market, its manner of operating (produc¬tion, marketing, management), and its financial outcomes with an emphasis on the firms present and future. • D.A. Some you should be able to supply. Florida, Ohio, and New York had published C H A P T E R 1 Project Background, Objectives, and Research Approach 6STA Interview Responses Figure 1. Ideally, you should have a circle of advisers who can review the plan and help iden¬tify the critical risks and your coverage of them. Informational plans typically consist of company and organization sections. Business Project Proposal Template 12911666 Best s of Business Project Proposal Template Business 600665 Our goal is that these business project template photos gallery can be a guide for you, give you more examples and of course bring you what you need. The document also covers all exciting products and also defines the basic objective of a project. Introductory slide: Has your firms name and the names of the owners and presenters. Be ready to explain where you get your assumptions, your numbers, and your ideas. • Product: Describes the product or service and how it is used. This section gives a brief description of the business-its age and location, as well as the markets it serves or plans to serve. If you have specific goals or objectives for your business (e.g., Third year sales of $50,000, or Picked-up by a major national chain by year 2), they go in a subsection after the mission statement. It is important to keep the specifics of your business and your readers in mind. Partnership - business man shaking hands with effect digital network link connection graphic diagram, digital global technology with cityscape background, Creative image of many business people conference group meeting. Sponsored You conclude with a repeat of thanks, and then ask for questions. If you will take three or more years to show a profit, it makes sense to give projec¬tions for five years. The firms current status (start-up, seed stage, ongoing, expansion, and so on) is covered, and the most recent milestone achieved is often mentioned (received initial investments, finalized product design, tested a prototype, completed market testing, made first sales, and so on). For a start-up business, the tradition is to offer three years of data projections. Assume people do not trust your assumptions when they first read them. A good marketing strategy section focuses on three ideas: (1) The overall strategy your firm pursues in the market, (2) the sales plan that shows the specific ways you apply strategy to secure sales from your customers, and (3) the longer-term competitive plan that shows how you protect your firm from efforts of the competition to unseat you. She has worked in senior level business roles across national and multinational corporations, as well as being a small business owner. Then you point up what your firms projected or achieved profit margins are, I and how Y0nI business model helps make this possible. There is also a line on the slide for what is offered in return (savings moved to a bank, pledged securities, stock in the firm for investors). Contact, Double exposure image of business profit growth, Abstract black and white bokeh background, Abstract digital low angle view of skyscrapers. Providing a comparison of the two is often a good idea. The Market Consider using a video camera to see how natural you seem when making the pitch. The Appendixes VII. If there is any experience lacking, you need to get it yourself or hire it through partners, employees, or consultants working with you. The first step in creating a new business project report is to specify the project. While 15 minutes sounds like a lot of time to talk, when summarizing a 40-page business plan, the time can go very quickly. In either case, the key information is the number of customers approached and the percent who bought. Typically this comes after or as part of the pro¬prietary statement. When you present it, you should be in business suit or dress, clean and pressed. Do not copy, fax, reproduce, or distribute without permission. They will fight back. The value of preselling, pilot tests, or test marketing cannot be stressed enough. Ideally it should sell the reader on the company and the ideas and people behind it. The Organization When you are serious about your business or when a lot of money of your own or someone elses is at stake, creating a business plan is perhaps the most critical activity you can undertake. It is usually better to include fewer numbers, but ones you understand inside-out rather than having lots of numbers, but knowing only in a general way how you arrive at them. They were great salespeople, and yet they were not making a profit. A screening plan can also be a useful way to get into the planning process. In addition to the full business plan described above, there are five other special-purpose types of plan. This sample business plan template contains detailed step-by-step instructions on how to create a complete business plan. The key things an influential person looks for in you are: (1) your passion for the business, (2) your expertise about the busi¬ness and the plan, (3) how professional you are in your work, and (4) how easy it would be to work with you. In addition, many small business consultants and government agencies want to see your business plan in order to understand your operations, goals, and level of understanding. Entry and Growth Strategy. Recognize that tough questions are the listeners way of making sure theyand youare protected from risks. The idea of the elevator pitch is that you are alone with a prospective customer or investor for the length of an elevator ride, say, around 30 sec¬onds.19 That comes out to 100 words or less. At the time, personal computers were being constructed by hobbyists and even lacked keyboards! It also describes the organizational structure of the firm. When they ask tough questions, try not to get nervous, upset, angry, or defensive. Summary slide: This gives a one-to-two line summary of the firm in a positive, upbeat manner (PROmote Advertisings quality service and large potential market will lead to excellent sales and profits). Since they are usually oriented toward those inside the firm or to formal investors, mission statements tend to cover everything that is truly important. CellTunes makes song ordering faster and easier than ever before-you hear it, you got it! Assumptions explain how the computations are made, which items are included or excluded, and whether there are any special considerations underlying the particular numbers. For example, it is not uncommon for a banker to ask, In your cash flow statement for April in the first year, you say you will be spending $1,140 on sales promotion expenses. When writing a plan for an existing business, you have the benefit of knowing the history, the existing market, and the financial track record of the firm. Also, if you are trying to start or run your business in a professional or ambitious way, a business plan is vitally important. A cover letter is a one-page document on business stationery (also called letterhead) that introduces the business plan and owner and indicates why the recip¬ient is being asked to read the plan. If we do not have con¬fidence in the entrepreneur, there is no way to have confidence in the other parts of the plan. • In seeking a marketing or joint venture partner or a key employee, you need to provide more of an idea about your market and approach to it. vision or mission statements or elevator pitch. Overall Marketing Strategy. All relationships carry an element of liking. The first section of a business plan tells the story of your company. 2. Activities undertaken or managed for schools, churches, social organ¬izations, civic organizations, or community groups are often important indicators of expertise. It is typically the first written material someone sees about your business, so it needs to look and sound just right. The Business Plan Story: Starting Small and Building Up Business plans are a type of story. Target Market and Proiections. Accomplishments, and the closer these are to the business, the better. For example, Apple and Microsoft drafted business plans when they wanted to go for venture capital funds.8 3d clean dark carving art. Overstated numbers: Key numbers in your business plan that seem too good to be true, or are just large to begin with, tend to get a lot of attention-most of it negative. Things in the business you imitate from others are classic examples. After signing and approving the Project Proposal a business starts drafting the following documents: a project charter, project plan, contract, etc. The mission statement is closely related to the firms vision statement. The goal for this section is to convince the reader that the business will be successful because it has access to high-quality people both within the firm and within the larger business community, and the organization itself is structured to make the best use of those people. Letters from manufacturers or consulting engineers confirming the viability and production costs of your product go a long way to alleviating fears in this area. Supporting Professional Advisors and Services. and where it is formally registered. Knowing these risk themes, you can go through your business plan, identify the risks, and determine how you want to handle them. Sponsored. Difficulties and Risks. • If you intend to send your plan to professional funding sources such as private banks, investment clubs, or venture capital firms, it is common to send what is called a mini-plan or a screening plan. Another item to include is the name of the person who prepared the business plan, if it is someone other than the owner. While show¬ing this slide, you thank your listeners for the opportunity to present and explain the purpose of the business plan (e.g., financial, partnering). (2-3 minutes), 5. minimalistic modern design for business presentations. Growth plans often talk about longer-term partnerships to be sought, new markets to be pursued, or ways to leverage the firms assets, for example through licensing or franchising. Wooden board empty table top on of blurred background. The nine parts of the full business plan are detailed below. Who are your key personnel? A vision statement is supposed to be inspiring, overarching, and long term. Offering. Know how every number in the plan came about and what it means. Pro Forma Cash Flow Analysis. • Proprietary statement to protect your ideas: For example, This document contains confidential and proprietary information belonging exclusively to [your companys name goes here]. Inadequate cushion: According to the Dun & Bradstreet Failure Record, the single most common reason for business closure is a lack of financial resources. This section should make clear how many employees there are and whether they are full time or part time, permanent or seasonal, family or nonfamily. It rarely discusses profits, but it often mentions the entry wedge that follows from the firms strategy. Pro Forma Income Statements. These situations can cause investors, bankers, and other readers to evaluate a plan negatively? 279,000+ Vectors, Stock Photos & PSD files. • Market: Describes the size and characteristics of the customer group and how it will buy the product or service (e.g., in person, online, catalog). It follows up with the purpose of the service-helping people obtain the song. DESIGN AND DEVELOPMENT PLANS Development Status and Tasks. For example, a stu¬dent was developing a wireless cell phone headset. There are two circumstances under which creating a business plan is absolutely nec¬essary. Other Investors. CRITICAL RISKS, PROBLEMS, AND ASSUMPTIONS. Other good sources include the free consultants from the Service Corps of Retired Executives (SCORE), available via score.org or your local Small Business Development Center (sba.gov/sbdc). Be ready with com¬parisons to competitors and their offerings. Support These days, small businesses are rarely alone, and the quality of the professionals surrounding you tells people a lot about how good you might be. Having enough cash to survive three months goes a long way to avoiding this risk. Just like a project worksheet and a project proposal outline, it is of utmost importance for you to create a project brief whenever you would like to present a particular project to clients.Project briefs can also be a part of your project plan or a project proposal. • Plans for a new entrant business: When your product or service already exists but your firm is the first of its kind in your market, it is considered a new entrant business. These descriptions often include pictures or graphics that help readers visualize the product or service. When you want everyone to understand the business in the same way, a business plan can make a tremendous difference. Sales or profits that are too optimistic, salaries that are too high for a firm of its age, and profitability are the three most likely culprits. This kind of site is designed to solicit information on customer interest. If readers want to know more about something that is not in the plan, they can ask you for the additional information. XII. Sample Business Plan for Acme Management Technology 1.0 Executive Summary By focusing on its strengths, its key customers , and the company's underlying core values, Acme Management Technology will increase sales to more than $10 million in three years, while also improving the gross margin on sales and cash management and working capital .