The Business Plan

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Course Overview

Whether starting a business or growing the one you have, a business plan serves as a roadmap and can help secure needed funding.  In this course, participants evaluate the many aspects and potential hurdles of the business and  build the Business Plan, one step at a time. 

This practical, hands-on approach encourages participants to immerse themselves in the vision and planning aspects of their business.  Focusing on the most critical components of the Business Plan enables them to uncover hidden risks and assess the business from a marketing, management and financial vantage point. 

Course Outcomes

At the end of this course, participants will:

• Possess a clear description of their proposed business
• Have the basic components of a business plan
• Possess a detailed checklist for next steps to research and launch their business
• Analyze the feasibility of their business

Course Objectives

• Write a clear, succinct business concept statement
• Conduct research on a business and its relation to the industry, competition and marketplace
• Project funding requirements, sales and expenses for a business
• Research, develop and write core elements of a business plan, which can continue to expand and be researched after the conclusion of the course
• Evaluate a business for feasibility

Agenda

Unit One – Getting Started—Refine your concept and begin your plan

• Prepare concept statement—What, Who, Why, When and How
• Identify product/service features and benefits
• Identify limitation, liabilities and regulations
• Write a Business Description and evaluate it against a Business Description checklist

Unit Two – Prepare the Marketing Plan

• Conduct an industry and competitive analysis
• Perform a market analysis and identify target markets and a market penetration strategy
• Identify pricing strategy
• Write a Marketing Plan and evaluate it against a Marketing Plan checklist

Unit Three – Prepare the Management and Financial Plans

• Identify key people and positions, duties and responsibilities
• Determine funding needs and sources
• Create sales and expense estimates
• Write Management and Financial Plans and evaluate them against checklists

Unit Four – Complete the Business Plan and Assess Business Feasibility

• Polish the plan and add final elements—Cover Page, Executive Summary, Table of Contents
• Evaluate business plan against checklist and identify items in need of additional work
• Assess business against feasibility checklist
• Identify next steps