Business planning pflug_2012

Texas State SBDC 2011

Business Planning & Presenting:

How to Communicate, Connect, and Convince Others


Today’s Objective

Lender

PresentationBusiness Plan

Investor

You, Your Plan, Your Business, Your Website

Messages & ImpressionsMessages & Impressions

Traits & Characteristics

Traits & Characteristics

Partner

One-on-One


Before we Begin

50% of the clients don’t come back after our first meeting

D.I.Y. D.I.Y.


First Question …Do You Need it in Writing?

• Do you have a clear vision?

• Do you have years of experience, network, and reputation in your industry?

• Can you clearly describe your customer profile, market niche, marketing approach, sales strategy?

• Do you have the capital, credit score, partners and resources?


Now Let’s Begin !!!

1) Traits, Characteristics, Messages, Impressions.2) You Must Do It Yourself (Work, Selling, Money)3) May or May Not Need it in Writing

• I Don’t Know You ?• I Don’t Know This Business?• Why Should I Even Care ?

• How Can I Help ?• What are the Next Steps ?• Where Do I Send the Check ?


Stop

And

Turn Your Head Around !!!


Turn Your Head Around !!!

If I Build It, They Will Come !!!


Now Stop, Turn Your Head Around !!!



Now Stop, Turn Your Head Around !!!


I am going to solve a problem! I am going to meet the needs of defined customers in a defined market niche !!!


The Paradox

It’s All About You

It’s Not About You


The Paradox

The Same Rule Applies to …

Investors, Lenders, Partners, Customers


What Characterizes a Good Business? 3-Legged Fit

MARKET FIT

FINANCIAL FIT

PERSONAL FIT


What Characterizes a Good Business Plan / Presentation?

• Targeted, direct, purposeful. Specific/Focused• Supported by verifiable research and insightful

analysis. Bottom-up, First.• Recognizes risks, threats, and the competitive

environment. Realistic.• Embodies real-world opportunities and planned

contingencies. Thoughtful & Agile.• Reflects you & your Business. Unique.• Clear, Concise, and Compelling. Respect.


Dispel with the Myths & Misconceptions- Don’t Say Anything that could be disproven !!!

• If I build it, they will come.• Just because I believe, or see, or commit

– Doesn’t mean anyone else will.

• Raising money is the end in itself; it validates you. • Someone is going to steal my idea…

– Beware of confidentiality agreements– The patent will protect me

• No platitudes, Please! • It’s flawless, can’t fail• I must maintain control

• There is no competition• Best customer service


Ten Traits to Convey in Ten Minutes (by David Rose, Venture Capitalist)

Experience Leadership

Knowledge Commitment

Skills Vision

Passion

Integrity

Realism Traction

Humility/Coachability


Additional Suggestions

• Know Your Plan (Walk the Talk)• Get Help & Solicit Genuine Feedback • Make Sure it all Connects, Be Consistent• No Canned Software D.I.Y. • Communicate @ 8th-Grade Level• Professionalism Counts• People Connect to People


Passions & Pennies

• Be Passionate, Don’t “Follow Your Passions”

• In the End, It’s all about the Money

• Make Sure Your Goals are Aligned


Do’s and Don’ts

• Do: Progress logically & use lots of visuals

• Do: Connect to things your audience understands

• Do: Cite independent sources for validation

• Do: Make sure the opportunity is believable

• Do: Edit, Edit, Edit – Devil’s Advocate

• Don’t: Include typos, errors, omissions

• Don’t: Present internal inconsistencies or contradictions

• Don’t: Discuss things the audience won’t understand

• Don’t: Say anything untrue, unbelievable, or irrelevant

• Don’t: Guess at numbers or use random assumptions


What’s New!by Rhonda Abrams (Business Plan Author)

• Consider Globalization / Outsourcing• Greater Emphasis on Feasibility Analysis• Plan for the Use/Role of Technology and

Social Media in Your Business • Address Social Responsibility• Have a Plan for Distributing your Plan• Peter Gruber (Yahoo Finance) …

– “If you can’t tell it, you can’t sell it” (VIDEO)


When it all Seems Overwhelming, Remember .. Persistence Pays


Be Clear, Concise, and Compelling!

Be Unique, Passionate, and Realistic!

Be Ready for Q&A Why This? Why Us? Why Now? Who Cares? So What?

Be able to Educate, Entertain, Engage

Communicate, Connect, Convince !!!

In a Nutshell…


Take Aways

• D.I.Y. – It’s Hard-work, Selling, and Financial Risk• Turn Your Head Around: Customer, Lender, Investor

– “It’s All About You, It’s Not About You”

• Demonstrate that you have a Three-Legged Fit?• Show Characteristics of a Good Planning/Presenting• Dispel with Myths & Misconceptions• Convey Ten Traits in Ten Minutes (David Rose)

– Additional Suggestions, Passions & Pennies, Do’s & Don’ts

• Consider “What’s New in Business Planning”• Persist (Don’t Give Up)

Education

Business planning pflug_2012