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2. Content Introduction Why is a Business Plan Important? How to Use a Business Plan Purpose of a Business Plan The importance of a business plan Key elements of a business plan Tools References

3. What is a Business Plan? Written document that: Defines your business Identifies your goals and mission Serves as your business “resume”

4. Why is a Business Plan Important? Roadmap for your business Gives you a better chance for success Required by financial institutions Helps communicate goals and objectives Forces you to look at whole business Stimulates development of new/future business opportunities

5. How to Use a Business Plan Executive summary Solicit interest Screen for investor candidates Mini business plan Banking/leasing document Potential acquirers Full business plan Team planning process Due diligence

6. Elements of a Business Plan Executive summary Farm description Strategic plan Production & operation Marketing plan Personnel plan Financial plan

7. Purpose of a Business Plan Alignment of team(s) Operating plan Communication across company, division, department, business partners Investment capital Expansion capital (banks, leases) Merger/acquisition process

8. Business model How are you going to make money e.g. Our business model is to charge customers Rs ____ per month for the service. Payment will be collected in advance for a quarter. What price point and how does that translate into revenue

9. Farm Description Business type and size Location Facilities History Ownership structure

10. Strategic Plan Mission statement Goals Business Strategy Where you want the business to go and how to get there SWOT

11. Mission Statement A description of what you and/or your business hope to do and be Values Vision Purpose

12. Goals and Objectives Goals Dream with a deadline Desired outcomes for your business Short term (within one year) Long term (2-5 years) Objectives Strategies for reaching goals

13. Production and Operation Crop system Livestock system Other enterprises

14. Marketing Plan Marketing strategy Marketing resources Promotion and distribution Inventory and storage management

15. Personnel Plan Family and hired labor Management team Consultants Personnel management

16. Financial Plan Financial statement Balance sheet Income statement Cash flow statement Long range projections Projected profitability Capital required Asset management

17. Tools Books Agricultural Business Specialist Examples Assistance Software FINPACK Business Plan

18. References www.google.com www.wikipedia.com www.studymafia.org

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