Business Planning Berks County Ag Innovation February 20, 2014
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Business PlanningBerks County Ag InnovationFebruary 20, 2014
What is a Business Plan?A description of how an organization: Creates value Delivers value Captures value1. Makes a product or service2. Reaches customers3. Makes a profit
Who Needs a Business Plan?Entrepreneurs/BeginnersOwners ManagersLandlordsLenders Investors
What Can a Business Plan Do for Start-ups?Define your workSave your resources Identify potential customersDetermine pricingAttract capitalCreate opportunity
What Can a Business Plan Do for Existing Businesses Identify new products Identify new customers Improve efficiency/productivity Eliminate or reduce waste Open new possibilities Get ahead of your competition Boost profit
Traditional Business Plan Components Executive Summary Company Description Market Analysis Organization & Management Structure Service/Product Marketing & Sales Funding Request Financial Projections (3-5 years)
9 Key Questions for a Model
1 Who are my most important current and potential customers?
2 What value do I create and deliver?
3 How do I reach my customers?
… Building a Better Model
4 What type of relationship does my
customer want with my business?
5 What values will customers pay for?
6 What are the essential resources my
business requires?
… Building a Better Model
7 What are the important actions for my success?
8 What partners are necessary to my business?
9 What are the key costs of my business?
Same Questions Different Answers
Roadside Stand Pastured Poultry
Same Questions Different Answers
Vegetable CSA Grass-fed Beef
Who Provides the Answers?
o Business operatoro Managerso Staffo Family memberso Existing customerso Potential customerso Competitor researcho Industry analysis
Design Process
Prepare
Gather
BuildTest
Manage
Prep, Gather, Build
• What the process can look like
• Allow time• Set the scene• Call it what it is:
Planning Retreat
“Old School” Print Resources
Business Model Generation by Alexander Osterwalder & Yves Pigneur
Fearless Farm Finances by MOSES (Midwest Organic & Sustainable Educations Services
The Organic Farmer’s Business Handbook by Richard Wiswall
Raising Dough by Elizabeth U
Online Sources for Assistance
http://www.score.org/resources/business-planning-financial-statements-template-gallery
http://nebeginningfarmers.org/farmers/planning-2/business-plan-templates/
http://www.beginningfarmers.org/farm-business-planning/
http://www.sba.gov/category/navigation-structure/starting-managing-business/starting-business/how-write-business-plan
“Your business model is NOT your business. It’s a method of inquiry to help you understand what to do next.” Matthew Milan
Today’s Free Take-aways
“If you find yourself in a hole, the first thing to do is stop digging.”
“Good judgment comes from experience, and a lot of that comes from bad judgment.”
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