HBIF Meeting 12-09
Finding and Staying on the Path
to Small Business Success!
Administrator
Nicole RoachMarketing Coordinator
BizCentral USA
Key Speaker
Nina Lopez
Small Business Consultant
BizCentral USA
• BizCentral USA: A “One-stop” resource
center for small business resources
nationwide!
• Key Speaker: Nina Lopez
• Questions
• Recorded Webinar Available At:
– http://vimeo.com/channels/smallbusinesswebinars
• Introduction to Business Plans
• Business Plan Components & How to
Use Them
• Benefits of a Business Plan
• Where to Go From Here
90% of new
businesses fail in
the first two years.
Failure is often
attributed to a
lack of planning.
• Taking time to create an extensive business
plan provides a company with insight into
your business.
• For a business to be successful and
profitable, the owners and the managing
directors must have a clear understanding
of the firm's customers, strengths, and
competition.
• Not to Mention…
1. Puts a business idea to the test.
2. Turns a good idea into a viable business or a
working enterprise.
3. Helps you come up with creative ways to make
your business work.
4. Shows what you are up against with
competition.
5. Creates a detailed
action plan to keep the
competitive advantage.
6. Specifies what you need
to start the business.
7. No nonsense list of
equipment needs.
8. Provides a timetable of
items on your to-do list.
9. Helps you get the
funding you need.
10. Tells the world who you
are.
Executive Summary
Company Summary
Products or Services
Market Analysis
Strategy and Implementation Summary
Management Summary
Financial Plan
• A persuasive
summary that will
entice a reader to
take the plan
seriously and read on.
• Communicate with your Customers
– Website, About Us, Marketing Materials
• Company Vision Snapshot
• Communicate with your Management
Team, Board of Directors, Business
Partners
– Objectives, Goals, Solutions, Conclusions
• A company summary should discuss
in detail the business’s ownership
and legal status.
• Also includes information on the
company’s start-up.
• Reach your target audiences,
customers
– Website, press releases, brochures,
pamphlets
• Implemented in sales calls for various
sales strategies and prospecting
• Company overview snapshot
– About your company and your products
• It is important to discuss the competitive
advantage a business’ product or service
has over the competition .
• What makes your product
or service unique?
• Can you price it
competitively?
• Classify your business according to your economic activity
• Analyze, collect, and publish data about your business
• Measure growth and potential for expansion into new products or services
• Knowing the market's needs and how it is currently serviced provides you with key information that is essential in developing your product/service and marketing plan
• Conducting a market analysis will help you:
1.Prepare to enter a new market
2.Launch a new product/service
3.Start a new business
• What resources and processes are
necessary to get the product to
market? This section should describe the
manufacturing, R&D, purchasing,
staffing, equipment and facilities
required for your business.
• Develop a detailed action plan with chronological lists of action steps (tactics)
• Measure if the organization's current structure is appropriate to the intended strategy
• Allows management to think about the organization's communication needs
• Investors must feel confident that the
management team knows its market,
product and
has the ability to
implement the
plan.
• Update the skills of your internal
management staff members
• Describe how each member
contributes to the company
• Set expectations and duties of each
member of the management team
• Used as an organizational chart
• One of the first steps to having a profitable
business is to establish a bookkeeping system
which provides data in the following four
areas:
Balance Sheet
Break-Even Analysis
Profit and Loss Statement
Cash Flow
• Snapshot of your business financials
• Track Progress
• Adjust Future Goals and Sales Objectives
• Resumes
• Credit information
• Quotes or Estimates
• Letters of Intent from prospective customers
• Letters of Support from credible people who know you
• Leases or Buy/Sell Agreements
• Legal Documents relevant to the business
• Business plans are useful at all stages of a companies existence.
• A common myth is that business plans are only useful for startups
• The reality is that every business needs a business plan!
• On average, a start-up plan will take anywhere from 160 to 640 hours to research and write.
• BizCentral Small Business Services
• Business Plan Writing
• Business Certifications
• Incorporation
• Website Development
• Graphic Design
• Marketing
• Bookkeeping & Accounting
• Nonprofit Services
• Contact Us
• Nicole Roach: [email protected]
• Nina Lopez: [email protected]
• Visit www.BizCentralUSA.com or Call 407-857-9002
www.twitter.com/bizcentralusa Facebook Fan Page:
BizCentral USA/CharityNet USA
