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NICNE NICNE Development Development WorkshopWorkshopDEVELOPING A BUSINESS PLAN Jeff Fahrenwald, AVP Graduate and Community Education
•WelcomeWelcome•Mission and SWOTMission and SWOT•Business Plan Development ProcessBusiness Plan Development Process
– Business ModelBusiness Model– Leadership TeamLeadership Team– Market Market – Competitive RiskCompetitive Risk– OperationsOperations– FinancialsFinancials
•Conclusions and Executive SummaryConclusions and Executive Summary•Closing RemarksClosing Remarks
Agenda
Business Plan Development Workshop NICNE Rockford CollegeBusiness Plan Development Workshop NICNE Rockford College
04/20/2304/20/23 Business Plan Business Plan ROCKFORD COLLEGEROCKFORD COLLEGE 3 Development Workshop
Mission StatementMission Statement• Can you clearly state your agency’s reason for
existence and what you are striving to become in the future?
• Can you explain this to others in less then one minute?• Does the mission help guide your thoughts and actions • Does the mission expand or limit your opportunities? NICNE MISSION: To build capacity among nonprofit
organizations to reach the highest levels of service and management excellence, by providing information, education, consultation, and resource supports.
04/20/2304/20/23 Business Plan Business Plan ROCKFORD COLLEGEROCKFORD COLLEGE 4 Development Workshop
Developing a Business PlanDeveloping a Business Plan• Start with an idea– Look at your current offerings– Look at your competitions offerings– Understand your REAL core competencies– Look at the unmet needs of current
individuals and groups that you serve– Look at unmet needs in the community– Look “one step over” from where you are
• Example – Rockford College BSMS
04/20/2304/20/23 Business Plan Business Plan ROCKFORD COLLEGEROCKFORD COLLEGE 5 Development Workshop
SWOT AnalysisSWOT Analysis• Strengths• Weaknesses• Opportunities• Threats• Works better with a team who knows your
organization• Use your mission statement• You can rewrite your mission statement if
there is not a good fit and the opportunity fits well with your real core competencies
04/20/2304/20/23 Business Plan Business Plan ROCKFORD COLLEGEROCKFORD COLLEGE 6 Development Workshop
Business ModelBusiness Model• Briefly idea / program• Summarize the key technology, concept,
or strategy • Fit with mission• Timing and location• Community needs addressed
04/20/2304/20/23 Business Plan Business Plan ROCKFORD COLLEGEROCKFORD COLLEGE 7 Development Workshop
Goals and ObjectivesGoals and Objectives• Strategic goals and objectives• SMART goals– Specific– Measurable– Action oriented– Relevant– Time bound
• Three to five year horizon
04/20/2304/20/23 Business Plan Business Plan ROCKFORD COLLEGEROCKFORD COLLEGE 8 Development Workshop
Leadership TeamLeadership Team• Executive Director, board members,
volunteers staff, outside advisors• Previous accomplishments / experiences
related to idea or program• Champion(s)• Additional help and support
04/20/2304/20/23 Business Plan Business Plan ROCKFORD COLLEGEROCKFORD COLLEGE 9 Development Workshop
Market SummaryMarket Summary• Summarize past, present and future– Note changes in market (leadership, players,
market shifts, costs, pricing, or competition) that contribute to your opportunity
• Potential• Price• Location
04/20/2304/20/23 Business Plan Business Plan ROCKFORD COLLEGEROCKFORD COLLEGE 10 Development Workshop
Plan to Win OpportunityPlan to Win Opportunity• Promotional strategy– Public relations– Personal selling– Advertising– Customer / Client service
• Costs• Partnerships
04/20/2304/20/23 Business Plan Business Plan ROCKFORD COLLEGEROCKFORD COLLEGE 11 Development Workshop
Competitive RiskCompetitive Risk• Summarize the competition• Similar offerings• Competitive advantage• SWOT again• Market size and potential
04/20/2304/20/23 Business Plan Business Plan ROCKFORD COLLEGEROCKFORD COLLEGE 12 Development Workshop
OperationsOperations• Resource requirements for:– Personnel– Technology– Space– Distribution– Products– Support services– Liability
• Strategic alliances
TimelineTimeline• Time to market• Critical steps• Capital requirements• Measure of success• Exit strategy
04/20/2304/20/23 Business Plan Business Plan ROCKFORD COLLEGEROCKFORD COLLEGE 14 Development Workshop
Key Timeline IssuesKey Timeline Issues• Near term– Key decisions and issues immediate or near-
term – Consequences of decision postponement
• Long term– Issues needing long-term resolution– Consequences of decision postponement
04/20/2304/20/23 Business Plan Business Plan ROCKFORD COLLEGEROCKFORD COLLEGE 15 Development Workshop
Financial PlanFinancial Plan• High-level financial plan – Financial model– Cost and pricing assumptions
• Annual revenues and expenses for three years
• Cash flow for three years• Balance sheet for three years• Start up costs• Sustainability • Capital raising strategies
04/20/2304/20/23 Business Plan Business Plan ROCKFORD COLLEGEROCKFORD COLLEGE 16 Development Workshop
Risks and RewardsRisks and Rewards• Summarize risks• Minimization strategy• Expected rewards– Financial– Social – Organizational– Other
04/20/2304/20/23 Business Plan Business Plan ROCKFORD COLLEGEROCKFORD COLLEGE 17 Development Workshop
Creating an Executive SummaryCreating an Executive Summary• Conclusion to document• Executive summary– Last written – first read– Page or two– Highlights of each area
04/20/2304/20/23 Business Plan Business Plan ROCKFORD COLLEGEROCKFORD COLLEGE 18 Development Workshop
Closing RemarksClosing Remarks• Final questions• Thank you for participating• Business Plan Competition