Professional Documents
Culture Documents
1
The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
www.bplanresources.com
o Print out the BPlan Workbook, make notes on this form or jot
your thoughts into a notebook
2
The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
Introduction
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
4
The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
9 Consider your audience, who are you writing the plan for;
9 Prepare a timeline (how much time you will commit to the project
and the completion date)
5
The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
Before you begin writing within the following section, Business Plan
1. Introduction Outline, make sure that you have done some research. Business Plan
Research helps you make informed decisions and create a successful
direction for your business plan.
2. Workbook
9 Gather information sources
Objectives 9 Record relevant information
9 Analyze the information you have gathered and note the
associated opportunities and risks
3. Business Plan 9 If you are going to submit the business plan to investors,
Research research what types of investment opportunities are available to
you, why you need investment (banks, government,
postidea.com, private equity investors, etc.)
4. Business Plan
Outline What types of information to gather:
(Drafts)
1. Primary Data Sources:
o Focus Groups
5. Actions o Questionnaire/Survey
o Product or Service Sampling
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
Note that there are many different types of Business Plan formats. The
layout is dependant upon the type of business, purpose of the plan,
readership, etc. You may choose to add some more sections to this
outline or ignore some others, but the basics are listed below:
1. Introduction
1. Executive Summary
2. Workbook 2. Company Profile
Objectives
3. Business History
4. Marketing Plan
3. Business Plan
o Industry Trends
Research o Product/Service
o Target Market
o Competitive Analysis
4. Business Plan o Marketing Mix (distribution strategy)
Outline
5. Operational Plan
(Drafts)
Manufacturing
Insurance (Risk Mgmt)
5. Actions 6. Management Team/Human Resources
7. Financial Plan
o Start up costs
o Cash Flow Statement
o Income Statement
o Balance Sheet
o Summary of Financials and Use of Funds
o Expected Outcome of business operations
8. Conclusion/ Actions
9. Appendices
The following pages contain the remainder of the Business Plan Outline
section of the workbook. Be sure to have done some research before
beginning the exercises. Simply use point form descriptions if you like.
Once you have gone through all of the sections of the Outline, you will be
ready to begin your formal Business Plan!
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
1. Executive Summary:
1. Introduction Answer the question of “what business am I in?” (define the core of the
value you are providing to a consumer)
__________________________________________________________
__________________________________________________________
2. Workbook
Objectives Define the opportunity for you to deliver this value (in one sentence)
__________________________________________________________
__________________________________________________________
3. Business Plan Marketing Highlights:
Research
Distinctive features of the Product/Service
__________________________________________________________
__________________________________________________________
4. Business Plan
Outline Target market Summary
(Drafts) __________________________________________________________
__________________________________________________________
What is an Executive Summary? Critical legal issues related to your particular venture
__________________________________________________________
The Executive Summary is the __________________________________________________________
one to two page introduction of
your business plan. It describes Management team overview – roles and pertinent skills of each
the opportunity and proves that __________________________________________________________
any investment in the venture will __________________________________________________________
provide a good return.
Is it an independent business, franchise, expansion, takeover, etc?
Why is it important: __________________________________________________________
__________________________________________________________
o To capture interest and
support from the reader Who will be your major suppliers, and what are the current or proposed
relationships with them:
o Based on the Executive __________________________________________________________
Summary an investor will __________________________________________________________
make up his/her mind
whether or not to read
Financial Highlights:
more about the
opportunity.
Summary of financial requirements and projections
For a financial worksheet and pro Why you need financial input
forma income and balance sheet How you will use it
statements visit us at:
www.bplanresources.com/financialworksh
eets.htm 8
The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
__________________________________________________________
__________________________________________________________
1. Introduction What is the equity that you and any partners have invested in the
venture?
__________________________________________________________
__________________________________________________________
2. Workbook
Objectives
2. Company Profile
3. Business Plan (Draft)
Research Form of Business:
Sole Proprietorship
Partnership
4. Business Plan Corporation
Outline Franchise
(Drafts)
Owners/ Principals
__________________________________________________________
__________________________________________________________
5. Actions
Name of Business
__________________________________________________________
__________________________________________________________
o It is the follow up section Contact Information (tel, fax, http address, email)
to the Executive __________________________________________________________
Summary, providing an __________________________________________________________
overall impression of the
business
Business Advisors (Include Lawyers, Accountants, Consultants, etc.)
o Suppliers and potential __________________________________________________________
partners are often __________________________________________________________
interested in this page. __________________________________________________________
__________________________________________________________
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
________________________________________________________________
2. Workbook ________________________________________________________________
Objectives ________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
3. Business Plan ________________________________________________________________
________________________________________________________________
Research ________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
4. Business Plan ________________________________________________________________
Outline ________________________________________________________________
(Drafts) ________________________________________________________________
________________________________________________________________
________________________________________________________________
5. Actions
If the business plan is being used to support a new business venture, state the
requirements of support. That is, are you seeking a partner, a bank loan, a
private investment, access to an incubator, etc., state the reasons why you are
seeking this type of investment and how an investment in your firm will benefit
this particular type of investor or partner.
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
________________________________________________________________
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
Many issues not necessarily within the control of your business must be
B. Product/Service addressed. These can either positively or negatively directly affect the
your sales. Note any trends, legislation or changes within the following
C. Target Market categories from which your business will ultimately benefit from:
Demographic Change
__________________________________________________________
What is the Industry Overview __________________________________________________________
This section provides a Economic Change (economic & spending trends, tax, interest rates, etc)
synopsis for the reader about __________________________________________________________
the industry and general __________________________________________________________
economy that your business
will be operating in.
Environmental Change (raw material availability, pollution, weather, etc)
Note trends, characteristics, __________________________________________________________
etc. from which you can later __________________________________________________________
justify opportunities or risks.
Consider the trends and how they relate to your venture. What are the
key success factors of your business, which will allow you to benefit from
these trends?
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
_________________________________________________________
What are the barriers to entry for this industry? Is the size of the industry
large or small? Are the costs to enter the market high or low? Is it based
on technological advantage or supplier relationships?
__________________________________________________________
__________________________________________________________
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
B. Product/Service
Marketing Plan
What are your product or service’s unique characteristics?
A. Industry Overview __________________________________________________________
__________________________________________________________
B. Product/Service
__________________________________________________________
__________________________________________________________
C. Target Market Are there any complimentary products/services that your product is
dependant upon? What are they if any?
______________________________________________________
D. Competitive Analysis
______________________________________________________
E. Marketing Mix What are the value added features to the end user?
__________________________________________________________
E.1. Promotion __________________________________________________________
E.2. Place __________________________________________________________
E.3. Price
E.4. Product How is your product/service positioned against the competition?
__________________________________________________________
__________________________________________________________
__________________________________________________________
__________________________________________________________
What are you doing differently from what is on the market currently?
__________________________________________________________
__________________________________________________________
__________________________________________________________
What this section describes: __________________________________________________________
This section describes the
features and benefits of the How has this product/service or a similar product performed in the
product or service that you market?
are selling. It defines the __________________________________________________________
product function, how it will be __________________________________________________________
used, what is the new feature __________________________________________________________
that it brings to market, etc. __________________________________________________________
Note that this is your initial
definition of your
product/service, and most
Provide further descriptions of the product/service (Pictures, specifications,
diagrams, complimentary features to related products/services, functionality
likely this will evolve, as does
description, design components, etc.)
your business. So be sure to
capture the core of what __________________________________________________________
you are offering and keep __________________________________________________________
the description clear and __________________________________________________________
concise. __________________________________________________________
__________________________________________________________
Stress the uniqueness of your __________________________________________________________
product. This is the feature __________________________________________________________
that differentiates your __________________________________________________________
product. That is, the
advantage that your product
has over the competition.
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
C. Target Market
Marketing Plan
Consumer Demographics:
A. Industry Overview
Age Range
Income Range
B. Product/Service
Gender
C. Target Market
Marital Status
Dependants
D. Competitive Analysis Occupation
Location
E. Marketing Mix Average purchase value ($)
E.1. Promotion Frequency of purchase ($) /per month ($) /per year
E.2. Place
E.3. Price
E.4. Product Consumer Psychographics
Lifestyle Description (general points)
Are there any secondary target markets that will have a need filled by
your product or service? If yes, what are the characteristics of that target
market?
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
D. Competitive Analysis
Years in Business
B. Product/Service
Product/Service Description
C. Target Market
E. Marketing Mix
Where do the competitors’ customer purchase the products (online,
E.1. Promotion through distributors, retail, direct from manufacturer, etc.)
E.2. Place ________________________________________________________________
E.3. Price ________________________________________________________________
E.4. Product
Pricing
Marketing/Advertising
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
E. Marketing Mix
Marketing Plan
Note that the basic purpose of the marketing mix is to take the customer
to the process of: Awareness => Trial => Adoption => Retention
A. Industry Overview
Thus, in your promotion strategy, you need decide what the intent is for
B. Product/Service each of your options, how much money to dedicate to it, and what the
intended outcome you are expecting. That is, are your efforts targeted
to build awareness, or to encourage trial, etc.
C. Target Market
E.1 Promotional Strategy
D. Competitive Analysis
For each of the potential promotion channels listed below create a table
E. Marketing Mix to consider:
Costs versus effectiveness
E.1. Promotion Subscription and distribution
E.2. Place Target Market Profile
E.3. Price Distribution coverage
E.4. Product Distribution frequency Is this the
Type of distribution used within the channel right one
for me?
Yes No
Potential Promotion Channels:
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
How are you going to get your product or service to your customer.
Marketing Plan What is the location of your business:
A. Industry Overview
D. Competitive Analysis
Distribution advantages (if any):
E. Marketing Mix
E.1. Promotion
E.2. Place What are the costs associated with this location:
E.3. Price
E.4. Product
This section describes “how” Where else can your product or service be purchased:
and “where” you will sell your
products/service. Online
Retail
You should showcase any Through distributors
market research you have Bundled with other products/services
conducted to add credibility to
Direct (phone sales, contract sales, trade
your claims in this section.
shows, etc.)
You can have as many Other
distribution channels as you
like, simply make sure to Be sure to note the effects on service quality, promotion, and timing
detail each one. with all of your above suggested distribution methods and locations.
Note: You should match your What are the associated costs with each:
distribution channels to the
buying patterns of your target
market. What are the marketing advantages of each?
-- Eg. If your target market is
most likely to purchase
software from a store just as
soon as purchasing it online,
you should describe the Are there any other methods of distribution you currently have or will
distribution approach for retail use in the future?
sales as well as online
initiatives and the related
costs, and advantages.
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
E. 3. Pricing Strategy
Marketing Plan
The general categories of costs for a service or a product as follows;
A. Industry Overview
Pricing a Product or Service:
B. Product/Service Labor = direct man hours into a product or service
Labor ____ Overhead = Indirect costs to produce the product or service
Overhead ____ (electricity, machine time, etc.)
C. Target Market Materials ____ Materials = the direct cost of materials going into the
product/service
D. Competitive Analysis Your desired profit margin will be based on the pricing strategy you
choose to follow. Here are some considerations:
E. Marketing Mix
• retail cost and pricing
E.1. Promotion • competitive position
E.2. Place • pricing below competition
E.3. Price • pricing above competition
E.4. Product • price lining
• multiple pricing
What does “Pricing” cover ? How important is value to the customer? Will the price reflect the
perceived value of the product?
The pricing of your
product/service is the fee that
you will charge to the
customer. This is a number
that will be based on your
costs, competition, and
customers’ perceived value Will you be discounting the price on a regular basis for ongoing
for your product or service. sales, retailer sales discounts, distribution discounts, sales agent
discounts, volume discounts, etc.?
Unit Selling Price: is the price per unit at which you will sell your service/product
Unit Variable Costs: Costs that you only incur if you are producing a unit.
Fixed Costs: These are costs that you incur regardless of how many units your
produce (eg. Rent, Property tax, Telephone, etc.)
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
E. 4. Product/Service
D. Competitive Analysis
Features
• List the features that you wish to emphasize:
E. Marketing Mix a. __________________________________________
b. __________________________________________
E.1. Promotion c. __________________________________________
E.2. Place d. __________________________________________
E.3. Price
E.4. Product
Weigh the Benefits vs. Features:
Also make note of the type of marketing positioning you will follow:
• Market Leader vs. Follower
• Price vs. Quality
• Innovator vs. Adaptor
• Customer vs. Product
• International vs. Domestic
• Private Sector vs. Government
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
Operational Plan
Development Synopsis:
Here you can briefly outline the design and development plans, an
1. Introduction overview of the strategy details for taking your venture from concept
to reality.
3. Business Plan
When is the proposed "finish" date of development? What obstacles,
Research
if any, must the company overcome in this process? What specific
tasks must be completed?
4. Business Plan
Outline
(drafts)
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
Manufacturing Plan
2. Workbook
Objectives Provide a list of the costs associated with this process. Include
direct and overhead costs. These notes will be valuable for your
formal business plan.
3. Business Plan
Research
4. Business Plan
Outline What are the research and development requirements? What are
(drafts) the timelines and costs associated with this?
5. Actions
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
Insurance
Are there any other risks inherent to your business that you should
consider preparing for such as bad credit, piracy of software, etc.
How have you prepared for these risks to offset their potential impact
Why is insurance important?
on your business?
There is always a downside risk
in every venture. Potential
investors and partners, need to
know that you accurately
assessed and provided some type
of insurance against the risk of
loss.
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
Human Resources
9. Business Plan
Research
Who are the other investors and/or shareholders, if any?
4. Business Plan
Outline
(drafts)
A strong management team is of So for example, create a table that looks something like this:
utmost importance to investors, as
is the recognition that where skill Role #1 a) b) c) d) e)
gaps exist, you have developed a
plan to fill in the “gaps” with the
appropriate staff to make it
Role #2 a) b) c) d) e)
happen!
Role #3 a) b) c) d) e)
Role #4 a) b) c) d) e)
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
Financial Plan
3. Business Plan The start-up budget should allow Your operating budget also should
Research for these expenses. include money to cover the first
three to six months of operation. It
Start-up Budget
should allow for the following
4. Business Plan • personnel (costs prior to expenses.
Outline opening)
Operating Budget
(drafts) • legal/professional fees
• occupancy • personnel
• licenses/permits • insurance
5. Actions • equipment • rent
• insurance • depreciation
• supplies • loan payments
• advertising/promotions • advertising/promotion
• salaries/wages • legal/accounting
• accounting • miscellaneous expenses
• income • supplies
• utilities • payroll expenses
• payroll expenses • salaries/wages
Why is the Financial Plan • utilities
important? • dues/subscriptions/fees
• taxes
This section provides your
prospective investor with the facts • repairs/maintenance
and figures of your venture. What
are the costs associated with your
business, what is the marginal
profit. Prepare a list with the associated costs within each section. These
figures should be based upon research you have conducted or can
Do you have a secure path to put forth based on experience or familiarity with the industry/
grow your business, financed by market, etc.
cash flow or debt financing? What
is the time line within which the Note that an operating budget is prepared when you are actually
investor can expect to earn his ready to open for business. The operating budget will reflect your
returns? priorities in terms of how to spend your money, the expenses you
For a financial worksheet use the
will incur and how you will meet those expenses (with revenue or
internet and go to the following debt).
address:
http://www.bplanresources.com/financi If you would like download a financials worksheet please click here
alworksheets.htm
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
Financial Plan
Financial Statements
1) Cash Flow Statement: is the actual money that is collected from sales
2. Workbook and the money that is paid out for expenses during each month.
Objectives List your sources of Cash income:
Sales:
3. Business Plan
Research
Loans:
4. Business Plan
Outline Investments:
(drafts)
Start-up Costs:
When you are making your notes consider the affects of seasonality,
promotions, discounts and payment terms on your monthly cash flow.
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
Note the components of a balance sheet. List the assets on the left side
and the debts/liabilities on the right.
Balance Sheet
5. Actions 3) Income Statement: shows the profit or loss of your business over a
certain period in time.
List the Income for a period of time first, and then the expenses over that
same period of time.
Income Statement
What do the Balance Sheet and
Income Statement show? Revenue (Sales)
(Taxes owed)
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
The Financial Projections Outline Below how you will you use the needed funding for the next year
Summary provides a broad or so. You define the term of investment:
overview of the upcoming
expectations and commitment
levels for your business. The
USE OF FUNDS:
cash, equity and sweat the __________________________________________________
principals have invested in the Acquisition of business $___
business during the past ___
Professional fees, consultants $___
months/years has directly
contributed to the opportunity Marketing campaign for launch $___
outlined here.
Working capital (incl. cash reserve) $___
The Use of Funds is an
important point as well. It Plant and equipment $___
outlines how you will use the
Yours ___? $___
money that you are borrowing
from the bank, private investor, Total $___
partner, etc. It will highlight the
capital allocation for the __________________________________________________
business.
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
Idea
Actions
Business Plan Workbook
Congratulations! You have worked through and itemized some of the
general considerations for your business. You have probably confronted
some issues that have drawn attention to weaknesses as well as
Formal Business Plan highlighted some opportunities by going through this exercise.
Now that you have your notes in hand and stronger understanding of
how to organize and craft a business plan, you can move onto creating
Review your formal business plan!
Although you are well equipped to begin building your own business
Funding (PostIdea.com)
plan, there are still other resources to help you bring your business to
reality with greater success. To help you in your entrepreneurial
endeavors we would like to suggest some of the following options:
Success!
Your own business.
1. Visit http://www.bplanresources.com to download for the Official
Business Plan Workbook for only $20:
=============================
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The Business Plan Workbook
You and the Bplan Chef, create better Business Plans
NOTES:
o
Format your business plan
with great narrative with the o
Bplan Creator at:
o
www.bplanresources.com/bplanc
reator.htm
o
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