THE DEVELOPMENT OF A BUSINESS PLAN

GRADE 11

1. THE DEVELOPMENT OF A BUSINESS PLAN

2. BUSINESS PLAN A written document that outlines the future activity for an existing or proposed business venture. Is the formal written expression of the entrepreneurial vision, describing the strategy and operations of the proposed venture. A business plan is a document that brings together the key elements of a business that include details about the products and services, the cost, sales and expected profits. A B lue Print

3. 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

4. Business plan guide

5. What Investors Look For How does the team think? How detail oriented is the team? How big is this market? Is there sustainable competitive advantage? What’s the growth plan?

6. https://www.youtube.com/watch?v=Fqch5OrUPvA

7. Competitive ANALYSIS OF A BUSINESS You always have competitors Dig deep, be detailed, be honest Compare features and benefits Technology comparison Whole product offering (pricing, support, etc.) Channels, funding, custome rs

8. FORMAT OF A BUSINESS PLAN

9. TITLE PAGE Name of the business Owner /Owners Contact Details (Addresses, Phone & email etc) EXECUTIVE SUMARY Business ideas & Goals Marketing Operations Finances : Over view of business : Products & services being sold? : Business Location & staff : Breakeven period, finance required.

10. BACKGROUND Mission Statement Company history ( existing business) Business Goals (Short term/Long term) MARKETING Market Research Market Analysis (Industry / Seasonality /Competitors /SWOT ) Marketing Plan (Target market/ distribution channel /pricing) Evaluation of Marketing

11. OPERATIONS & PRODUCTION Legal & Licensing requirements Management details Organization structure & staffing Insurance & Security needs FINANCIAL PROJECTIONS Income & Expenses Financial forecasts IMPLEMENTATION TIME TABLE Time needed to set up & run the business