W. Bygrave and A. Zacharakis (2007) Entrepreneurship.

The Business Planning Process

W. Bygrave and A. Zacharakis (2007) Entrepreneurship.

The Business Planning ProcessStart business planning literally when starting to think about a new venture.

Start organizing information.

Focus on critical aspects of the business model and map to the typical format.

Keep in mind that the business plan is a “living document”.

W. Bygrave and A. Zacharakis (2007) Entrepreneurship.

The Business Planning Process The Story Model

How will stakeholders interpret your plan?

A tagline creates a unifying plot line that organizes your thinking

Keep your plan as close to “general format” as possible.

W. Bygrave and A. Zacharakis (2007) Entrepreneurship.

The Business Planning Process The Business Plan/the Cover & Table of

ContentsThe Cover

Controlling

distribution

is particularly

important

The cover

should be

eye-catching

W. Bygrave and A. Zacharakis (2007) Entrepreneurship.

The Business Planning Process The Business Plan/Executive Summary

Write Executive Summary after working through all the other sections;

Hook the reader;

Provide compelling information on the following:- Description of Opportunity- Description of Opportunity- Business Concept- Business Concept- Industry Overview- Industry Overview- Target Market- Target Market- Competitive Advantage- Competitive Advantage- Business Model and Economics- Business Model and Economics- Team and Offering- Team and Offering

W. Bygrave and A. Zacharakis (2007) Entrepreneurship.

The Business Planning Process The Business Plan/Main

Parts

Industry & Industry & CompetitorCompetitor AnalysisAnalysis

Financial PlanFinancial Plan

Critical RisksCritical Risks

TeamTeam

Development PlanDevelopment Plan

OperationsOperations

Marketing PlanMarketing Plan

CompanyCompany&Product&Product

DescriptionDescription

Executive Executive SummarySummary

Ap

App

endix

W. Bygrave and A. Zacharakis (2007) Entrepreneurship.

The Business Planning ProcessTypes of Plans

Operational Plan for internal use. 80+ pages long.

Formal plan for external use. 25 to 40 pages long.

An expanded executive summary for enticing interested stakeholders. 7 to 10 pages long.

W. Bygrave and A. Zacharakis (2007) Entrepreneurship.

The Business Planning ProcessConclusion

The process allows the entrepreneur to better anticipate instead of react.

Entrepreneurs can get feedback from experts, including investors, vendors and customers.