Types of company: PrivateTypes of business… Customers can extend the rental term online without visiting the store. The Executive Summary is usually a … And it’s easier to write a meaningful summary once you have filled in the rest of your plan. Our website will attract potential visitors to the resort. You need a retail location, furnished to meet the demands of your business. Focus on benefits. You will of course need a certain quantity of bikes to service demand, but you will not need a number of different types of bikes. Potential joint ventures. (They'll show up later.) What is the population and spending habits and levels? Promotional events. (In our rental example, one problem is a potential lack of convenience; we will overcome that issue by offering online reservations, on-resort deliveries, and drive-up equipment returns.). Some may pertain to you; others may not. Que vous utilisiez Powerpoint, Keynote, Prezi ou encore Beamer, il y a des éléments que vous ne devez pas oublier dans votre présentation… However, sellers of new equipment do indirectly compete with our business since a customer who buys equipment no longer needs to rent equipment. What may have seemed like a good idea for a business can, after some thought and analysis, prove not viable because of heavy competition, insufficient funding, or a nonexistent market. You've already defined and mapped out your products and services. Many business plans are fantasies. Where your entrepreneurial dreams are concerned, you should do everything possible to set the stage for success. Keep in mind this is just a made-up example of how your Summary might read. This is the section where you provide all financial information related to your business. Your business plan is the foundation of your business. You might be surprised by what you can learn about your business by evaluating other businesses. In the Products and Services section of your business plan, you will clearly describe--yep--the products and services your business will provide. What percentage of that market do you hope to penetrate and acquire? Operating Budget: A detailed breakdown of income and expenses; provides a guide for how the company will operate from a "dollars" point of view. Hi Padmanabhan, you can use the link in the post to download the PowerPoint presentation. The next step in creating your business plan is to develop an Operations Plan that will serve your customers, keep your operating costs in line, and ensure profitability. Here's the best step-by-step template for writing the perfect business plan for your startup. GST302 – Business Creation and Growth, NOUN Students GST302 Business Plan Submission and Presentation Date in 2020_2 Semester. Who are the key leaders? Plus you may also get advance warning about expansion plans, new markets they intend to enter, or changes in management. Blue Mountain Cycle Rentals expects to earn a modest profit by year two based on projected sales. Advertising should help you quickly determine how a company positions itself, who it markets to, and what strategies it employs to reach potential customers. While you don't need to include samples, taking the time to create actual marketing materials might help you better understand and communicate your marketing plans and objectives. While customers in the counties surrounding the George Washington National Forest make up 35 percent of our potential customer base, much of our market travels from outside that geographic area. Copyright © 2008-2020 Cinergix Pty. Hi, yes you can use it to create your own business plan. How will you react to and overcome new challenges? What is the timeline for bringing new products and services to market? And, even if you do not ever plan to seek financing or bring in investors, you absolutely must know your competition. Weaknesses are opportunities you should plan to take advantage of. The key is to define your market--and then show how you will serve your market. Now let's look at the first section of your business plan: The Executive Summary. Our rental shop will offer better prices and enhanced services like remote deliveries, off-hours equipment returns, and online reservations. Make your pitch. This is to inform all National Open University Of Nigeria(NOUN) students that are offering GST302(Business creation and Growth) that Uploading and Presentation of GST302 business plan … But great planning often means the difference between success and failure. Providing great products and services is wonderful, but customers must actually know those products and services exist. What segment of the market do I plan to target? How will they respond when you enter the market? The following is a comprehensive guide to creating a great business plan. Think of it as a written elevator pitch (with more detail, of course). How can I differentiate myself from my competition in the eyes of my customers? Business Plan PowerPoint Template (20 free unique slides). Bottom line: Provide some sizzle in your Executive Summary, but make sure you show a reasonable look at the steak, too. If you hope to attract an upscale clientele, you may need to invest more in purchasing a prime location and creating an appealing ambience. You can either use two mind maps to outline your sales and marketing strategies separately or a single mind map to showcase both. SWOT Analysis Templates and Examples for Any Situation, The Easy Guide to Making a Dichotomous Key with Editable Examples, How to Visualize A Customer-Centric Strategy, The Best Ideation Techniques for Remote Teams, How to Effectively Manage Your Time While Working Remotely, How to Write a Business Project Proposal that Gets Approved, Building Culture While Staying Remote: How to Conduct Virtual Icebreakers, The Quick Guide to Running Productive Retrospectives Remotely, The Complete Guide to Virtual Strategic Planning, The value you can deliver to the customer via your product or service, Which customer problems/s that you are trying to solve, Which is the job that your product helps the customer to finish, What are the different products you are offering to each customer segment. And be objective. Access to the forest is restricted to a few primary entrances, and visitors reach those entrances after traveling on one of several main roadways. Evaluate their marketing and advertising campaigns. If you plan to open a clothing store, you will compete with other clothing retailers in your area. Now distill what you've learned by answering these questions in your business plan: The Competitive Analysis section for our cycling rental business could start something like this: Our nearest and only competition is the bike shops in Harrisonburg, VA. Our next closest competitor is located over 100 miles away. Not a lot to add here. Your marketing program should consistently reinforce and extend your brand. What steps will you take to cut costs if the company initially does not perform up to expectations? Acquiring the right location? Your Summary can serve as a guide to writing the rest of your plan. They learn from mistakes, and adapt and react to changes: changes in the economy, the marketplace, their customers, their products and services, etc. Think about your business and your industry, and if the following conditions exist, you may face competition does the road: In general terms, if serving your market seems easy you can safely assume competitors will enter your market. That way your business plan can share your story clearly and concisely. The Executive Summary is a brief outline of the company's purpose and goals. Since a business plan should above all help you start and grow your business, your Executive Summary should first and foremost help you do the following. It indicates the financial health of a business. Then we'll look at each section of a typical business plan: So first let's gain a little perspective on why you need a business plan. … It proves a case. It helps you make sense of your product or service’s competitive positioning through the survey data at your hand. Then create an overview of that plan to make sure your milestones and timeline make sense. Consider your brand. But above all, your business plan should convince you that it makes sense to move forward. Once you identify your main competitors, answer these questions about each one. Because of the somewhat seasonal nature of the business, part-time employees will be hired to handle spikes in demand. What competitor weaknesses can you exploit? She also has extensive customer service and sales experience, having worked for four years as the online manager of Pro Parts Unlimited, an online retailer of high-end cycling equipment and accessories. Then Financial Analysis can help you answer the most important business question: "Can we make a profit?". What are their experiences, educational backgrounds, and skills? Absolutely not. How will you establish business relationships with vendors and suppliers? Explain the problem you solve. We will partner with local businesses that serve our target market to provide discounts and incentives. Are products or services in development or existing (and on the market)? These aptly summarize all your findings on your customers such as their demographic details, jobs, responsibilities, needs, challenges etc. Préparer la présentation du business plan. So is describing why your products and services are needed if no market currently exists. Those employees will be attracted through competitive wages as well as discounts products and services. It's the perfect way to review and revise your ideas and concepts before you ever spend a penny. Now that we have the rules of writing a business plan out of the way, let’s dive into the elements that you’ll include in it.The rest of this article will delve into the specifics of what you should include in your business plan, what you should skip, the critical financial projections, and links to additional resources that can help jump-start your plan.Remember, your business plan is a tool to help you build a better business, not just a homework assignment. A little Googling can yield a tremendous amount of data. But if you're creating a new product (or service), make sure you thoroughly explain the nature of the product, its uses, and its value, etc.--otherwise your readers will not have enough information to evaluate your business. Joint ventures are like partnerships between two companies. Offering drive-up, express rental return services will be seen as a much more attractive option compared with the hassle of renting bikes in Harrisonburg and transporting them to intended take-off points for rides. How will you determine if your initial marketing efforts are successful? Or you can work with an accountant to create the necessary financial projections and documents. Be clear and to the point. Net income is projected to reach $105,000 in year three as sales increase and operations become more efficient. Blue Mountain Cycle Rentals will be located at 321 Mountain Drive, a location providing extremely high visibility as well as direct entry and exit from a primary national park access road. Focus on the basics first: If you are still stuck, try answering these questions. What products, services, and equipment do I need to run my business? Successful businesses do not remain static. Fortunately, most entrepreneurs have a better handle on their operations plan than on any other aspect of their business. For a business plan presentation, you can use a digital database of your financial information with a simple Creately mind map. What market do current competitors target? Tout d’abord, avant de présenter votre business plan à des partenaires potentiels, il est indispensable de le valider avec un professionnel (un … Since customers currently rent bicycles in the local town of Harrisonburg, road signage will communicate our value proposition to all potential customers. Who is responsible for which aspects of the business? Think of it this way: The Products and Services section answers the "what" question for your business. You can also use it to assess the capabilities of your own company. Your marketing plan should clearly identify benefits customers will receive. Most products and services do not. While we expect sales to rise, for the purposes of performing a conservative analysis we have projected a zero growth rate for the next three years. Focus on differentiation. Thinking of starting a business? Determine how you can best reach potential customers. But the odds are greater that those entrepreneurs will fail. Are there competitive disadvantages you will need to overcome? Dans cette dernière hypothèse, vous ne pourrez pas y échapper : vous devrez réaliser une présentation … Most of all, a good business plan is convincing. As an entrepreneur, you will have to present a business plan to third parties at some point, especially when you are seeking equity or debt financing. You can use Creately Viewer to add this to your online documents, websites, intranet, Wiki, or business plan presentations. What do customers expect to pay for my products and services? Search the Internet for news, public relations, and other mentions of your competition. We will compete with new equipment retailers through personalized service and targeted marketing to our existing customer base, especially through online initiatives. (You can have a great plan to beat your competition, but you also must win the perception battle among your customers. Features 60 unique slides, with an amazing 5 different color schemes. Participation and population trends favor our venture: According to the latest studies, recreation spending in our target market has grown by 14 percent per year for the past three years. Competitive analysis can be incredibly complicated and time-consuming, but it doesn't have to be. A great business solves customer problems. Spending ability is important. Otherwise, include staffing plans in the Operations section. Do you assemble products using components provided by others? In other businesses and industries, answering the above questions can be more difficult. How? While people purchase HVAC systems, "households" consume those systems. Business plans provide opportunities to raise money for your business … Simple and various shapes are included and various expressions are … Your Summary describes the highlights of your plan, includes only the most critical points, and leaves out less important issues and factors. On the other hand, if you live in an area with 50,000 people and there's only one bicycle shop, you may be able to enter that market and attract a major portion of bicycle customers in your area. FedEx had to define the opportunity for a new, large-scale service and justify why customers needed--and would actually use--that service.). How will your operations change as the company grows? If you distribute products to other companies or suppliers and those distribution efforts will impact your overall marketing plans, lay out your Distribution Strategy. If you open a restaurant, what you plan to serve will in some ways determine your labor needs, the location you choose, the equipment you need to purchase. They are established businesses with excellent reputations. After all, some entrepreneurs succeed without writing a business plan. Don't simply assume that just because "the bicycle industry is a $62 billion business" (a number I just made up) that you can capture a meaningful percentage of that market. This section is required if you are presenting your business plan to investors. While you don't need to hire a private detective, you do need to thoroughly assess your competition on a regular basis even if you plan to run only a small business. 2. First, email or mail an introductory letter to your target letting them know you have … (Sometimes even the best ideas are simply ahead of their time.). But most important, financial projections tell you whether your business has a chance of being viable--and if not let you know you have more work to do. In the competitive analysis section, you'll learn how successful your direct and … Celebrity management team members may attract the attention of your readers, but experienced lenders and investors will immediately ask what role that person will actually play in the running of the business--and in most cases those individuals won't play any meaningful role. First and foremost, your business plan should convince you that your idea makes sense--because your time, your money, and your effort are on the line. You cannot market and sell to customers until you know who they are. Price, service, convenience, and extensive inventory are all areas where you may be vulnerable. With your marketing strategy, you have to consider factors like your marketing or communication channels, marketing goals, marketing budgets, resources etc. If a business seeks outside funding, providing comprehensive financial reports and analysis is critical. Blue Mountain Cycle Rentals will offer road and mountain bike rentals in a strategic location directly adjacent to an entrance to the George Washington National Forest. One key note: Don't be tempted to add a "name" to your management team in hopes of attracting investors. question. As a new company, you will likely be an unknown quantity in your market. The Management Team section for our cycling rental business could start something like this: Joe has over 20 years experience in the cycling business. The Strategic Business Powerpoint Template contains 25 slides that can be fully edited to show off your business’s success, work plans, projects, or anything the company needs to inform their … If you already own an existing business, summarizing your current operation should be relatively easy; it can be a lot harder to explain what you plan to become. 460,000 people visited the George Washington National Forest during the last 12 months. Also keep in mind this example focused on the rental business, so a description of products was not included. It shows how and when cash will flow through the business; without cash, payments (including salaries) cannot be made. Our only other competition are the bike shops in Harrisonburg, VA, and our location will give us a competitive advantage over those and other companies who try to serve our market. What is the salary structure for the company, by position? You should already have a feel for the competition's strengths and weaknesses--if you know your market and your industry. Direct cost of sales is projected to average 60 percent of gross sales, including 50 percent for the purchase of equipment and 10 percent for the purchase of ancillary items. Median income. Does your market area have sufficient spending power to purchase enough of your products and services to enable you to make a profit? Competitive analysis can also help you identify changes you should make to your business strategies. And if you plan to develop a product or service, you should thoroughly describe the development process as well as the end result. Or if you plan to sell a commodity readily available in a variety of outlets, the key to your business may not be the commodity itself but your ability to market in a more cost-effective way than your competition. If we do not differentiate ourselves in terms of quality, convenience, and service, we could face additional competition from other entrants to the market. Plus, again in general terms, women make up a relatively small percentage of jet ski purchasers. This tool is used to assess your business competitive strength and position against your competitors. If you are pitching a new product to your investors, you may also want to include your funding requirements. (Ferraris are awesome, but you're unlikely to sell many where I live.). Do they focus on a specific customer type, on serving the mass market, or on a particular niche? Early on, your business is more of an idea than a reality, so your business plan can help prospective employees understand your goals--and, more important, their place in helping you achieve those goals.