1

A BUSINESS PLAN
By Kelli Coplin
 AGENDA
2

• What is the purpose of a business plan?

• What components need to be in a business plan ?

• Why is a business plan important; How to use a

business plan now that it is created?

• What are the risks of not having a business plan?

 3

What is the purpose of a business plan?

• Road Map that spells out how a business product or service will be produced and sold.

• Persuades employees and investors to invest in a business and the business goals and future.

• How they will market their product or service

• Identify a business potential customers will be

• How to target and keep their potential customers.

What components need to be in a business plan ? 4

Seven Elements:
• Executive summary
• Company description
• Market analysis
• Organizational management
• Sales strategies
• Funding requirements
• Financial Projections

Lean Business Plan: Formal Business Plan:

• Strategy • Sections or chapter
• Tactics • Executive summary
• Task • Company overview
• Responsibilities • Information about the product or service
• Financial projections • Marketing plan
• Cash flow • A list of significant business milestones
• Budget expenses • Information about each member of the
management team and their role
 5

Why is a business plan important; How to use a business plan now that it is created?

• Growth of the Business

• Secure loans or investment capital
• Show Companies development and objectives
• Turn business idea into reality
• Shows how to manage resources and priorities
• Risk analysis
• Show entrepreneur, business leaders and Managers to:
• Monitor their progress
• Checking off goals
• Secure funding
• Attract new talent
• Expand operations
• Entice future investors
 6

What are the risks of not having a business plan?

Not be able to:
• Express its purpose
• Express its journey
• Monitor its goals and objectives
• Follow its flexibility, priorities, investments, and
finances
 7

Reference:
• Berry, T. (2018, August 20). What Is a Business Plan? -. Retrieved from
https://articles.bplans.com/what-is-a-business-plan/
• Wade, S. (2015, December 11). Reasons a Business Plan Is Key to Success. Retrieved from
https://www.thebalancesmb.com/why-write-a-business-plan-2948013
• Berry, T. (2011, April 5). How Business Planning Leads to Better Management. Retrieved from
https://www.entrepreneur.com/article/219424
• Robbins, S. (2016, February 10). Why You Must Have a Business Plan. Retrieved from
https://www.entrepreneur.com/article/74194
• Quickbooks. (2019, May 14). A step-by-step guide to drafting a business plan. Retrieved from
https://quickbooks.intuit.com/r/business-planning/7-elements-business-plan/
• Robbins, S. (2004, December 11). Business Plan Risks. Retrieved from
https://www.entrepreneur.com/article/49042
• Francis Wilks & Jones. (2019, May 15). Ten Dangers of Not Having a Business Plan. Retrieved from
https://www.franciswilksandjones.co.uk/site/fwjsays/faq_booklets/ten_dangers_not_having_a_b
usiness_plan_uf.html
 8

Any Questions?