Unit 4 Seminar NS499. The Business Plan What is a business plan? What is a business plan?

Unit 4 SeminarUnit 4 Seminar

NS499NS499

The Business PlanThe Business Plan

What is a business plan?What is a business plan?

Components of a Components of a Business PlanBusiness Plan

The executive summaryThe executive summary The proposed scope of the new businessThe proposed scope of the new business Should:Should:

Describe in detail the business and its goalsDescribe in detail the business and its goals Identify ownership and legal structureIdentify ownership and legal structure Discuss skills/experience you or partners Discuss skills/experience you or partners

bring to the businessbring to the business Identify advantage over competitionIdentify advantage over competition Financial needsFinancial needs

How the business Plan is How the business Plan is ReadRead

Characteristics of projectCharacteristics of project Caliber of people in dealCaliber of people in deal Terms of the dealTerms of the deal Balance sheetBalance sheet What is uniqueWhat is unique

Writing a Business PlanWriting a Business Plan

IntroductionIntroduction Company ProfileCompany Profile Market AnalysisMarket Analysis Marketing PlanMarketing Plan Financial Plan Financial Plan AppendicesAppendices

Marketing Marketing

Components of Service model Components of Service model marketingmarketing SimplicitySimplicity RelationshipsRelationships Marketing yourselfMarketing yourself Creating your brandCreating your brand

MarketingMarketing

What is the function of marketing?What is the function of marketing? What activities are involved in What activities are involved in

marketing?marketing?

MarketingMarketing

Assessing and reacting to trends in Assessing and reacting to trends in the marketplacethe marketplace

What are some trends in healthcare What are some trends in healthcare right now?right now?

Your marketing strategy depends on Your marketing strategy depends on these trendsthese trends

MarketingMarketing

Your mission statementYour mission statement What is this?What is this? How can it help your business?How can it help your business?

The marketing MixThe marketing Mix

The fours P’s?The fours P’s? Why are they important?Why are they important?

Marketing StrategiesMarketing Strategies

Concentrated marketingConcentrated marketing Differentiated marketingDifferentiated marketing Undifferentiated marketingUndifferentiated marketing

The Marketing PlanThe Marketing Plan

Identify the product line and target Identify the product line and target marketmarket

Conduct market researchConduct market research Goals and objectivesGoals and objectives Determine marketing mixDetermine marketing mix Develop action plan, delegate Develop action plan, delegate

responsibilitiesresponsibilities Financial planFinancial plan Measure and EvaluationMeasure and Evaluation

Business OwnershipBusiness Ownership

Three business structuresThree business structures What are they?What are they?

Sole ProprietorSole Proprietor

What does this mean?What does this mean? Advantages?Advantages? Disadvantages?Disadvantages?

PartnershipPartnership

What does this mean?What does this mean? Advantages?Advantages? Disadvantages?Disadvantages?

CorporationCorporation

What is this?What is this? Advantages?Advantages? Disadvantages?Disadvantages?

Protecting your Business Protecting your Business IdeasIdeas

What are some traditional ways to What are some traditional ways to protect your ideas?protect your ideas?

Other optionsOther options Written agreementWritten agreement Personal discretionPersonal discretion IncorporationIncorporation

CopyrightsCopyrights

Issued by U.S. Copyright officeIssued by U.S. Copyright office What rights are the owners granted?What rights are the owners granted? How long are they effective?How long are they effective? Copyright is your responsibilityCopyright is your responsibility ““Cease and desist” order must be Cease and desist” order must be

issued for abuseissued for abuse

TrademarksTrademarks

Why and by whom are they issued?Why and by whom are they issued? Service MarkService Mark To establish trademark rights:To establish trademark rights:

File trademark applicationFile trademark application $245 fee$245 fee Effective for 20 years with option to Effective for 20 years with option to

renewrenew

PatentPatent

What is the purpose of a patent?What is the purpose of a patent? Some companies choose to not Some companies choose to not

patentpatent Costly processCostly process

Best Ways to Protect Best Ways to Protect Yourself Yourself

Be ethicalBe ethical Ask advice of those who are Ask advice of those who are

successfulsuccessful Make well thought out decisionsMake well thought out decisions Keep good documentationKeep good documentation Learn from experience Learn from experience