Developing a Business Plan - Madhukar Shukla
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8/14/2019 Developing a Business Plan - Madhukar Shukla
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Madhukar Shukla
Developing a Business Plan
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Madhukar Shukla
Agenda
Understanding Entrepreneurship What does an entrepreneur do?
How do entrepreneurs plan/ think?
On Developing a Business Plan
Why do you need a business plan? Key tenets of developing a plan
Structure of a business plan
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What does an entrepreneur do?
shifts economic resources out of an area of loweryield/productivity into an area of higher productivity andgreater yield.
identifies an under-served market and designs &implements a scalable strategy to meet the needs of thesegment.
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How do Entrepreneurs Plan/ Think
Two ways of Reasoning Causal Reasoning
Effectual Reasoning
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How managers think causal reasoning
Rationally: select/ align the means/resources to achieve thepredetermined goal
Goal
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How entrepreneurs th ink effectual reasoning
Imagining/ crafting possible futures through given means/resources
R1 R2
R3
R4 R5
Who I amWhat I know
Who I know
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Agenda
Understanding Entrepreneurship What does an entrepreneur do?
How do entrepreneurs plan/ think?
On Developing a Business Plan
Why do you need a business plan? Key tenets of developing a plan
Structure of a business plan
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Key tenets o f a Bus iness Plan
Business Plan is not just about whatyou want to do -but also about howand whenyou will do it
Make the plan bottom up not top down
Start by writing the Executive Summary first
What do you want to do? How will you do it?
How will you make it sustainable?
Plan for your start-up costs
Salaries, infrastructure, registration, etc.
Cashflow requirements
Pilot, etc.. Till first sales or funding
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Life-cycle of growth and investment/ funding
Time/ years
VentureFounded
Grant/SeedInvestment
InitialInvestment
PhilanthropicAngel Capital
GrowthCapital
Venture Capital/Private Equity/Project Funding
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NKC Study findings source of funding
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NKC Study findings self-financing
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Structure of a Bus iness Plan
What is your Value Proposal? What need are you trying to fulfill?
What makes you unique?
Who are your customers?
What is the Market Size?
What is your market segment?
What is the size of the market?
What is the scope for market penetration?
What are your challenges to scale?
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Structure of a Bus iness Plan
What is your Business and Financial Model
How is it scalable?
What are your dependencies?
What are the key risks?
What is your revenue model?
What is your Competitive Landscape?
Who are the major players in the industry/ segment?
How do you compare with them?
What is the existing demand for the products/ services
you aim to offer?
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Lastly
Quality of the entrepreneur / team is often more
important than the plan!!, e.g.,
Knowledge, skillset and passion of the entrepreneur/
team
Ability to build an organisation and run a business Depth of knowledge about the customer/ market and the
sector
Thanks!
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